More couples are getting prenuptial agreements before they marry than in the past. That’s in part because people are increasingly putting off marriage until they’re established in a career, financially independent and have had some time living on their own. Therefore, they’re bringing some assets like a home and a retirement account into the marriage.
Postnuptial agreements are also more common than they were years ago – even for couples who got a prenup before they wed. A couple can draw up a postnup early in the marriage or after they’ve been married for many years.
Protecting financial interests
Often, couples get a postnup to replace their prenup to address assets they didn’t have when they got married. This could include investments, real estate, intellectual property, family inheritances and more.
While a postnup is often initiated by higher-earning spouse who individually has more wealth than their mate to avoid having to share it under Texas’ community property law in divorce. However, a postnup is also a good way for a lower-earning spouse who’s been a stay-at-home parent to protect themselves in divorce.
Helping an eventual divorce proceed more smoothly
Sometimes a couple who has been through a rough patch or two and knows that divorce is a real possibility in the future negotiates a postnup to help an eventual divorce go more smoothly. A postnup can outline how assets will be divided, protect individual wealth like inheritances and address alimony (spousal maintenance). Note that a postnup cannot address child custody or support issues.
A postnup can help provide peace of mind for both spouses – whether they live happily ever after or decide to go their separate ways. As with a prenup, each spouse needs to have their own individual legal guidance when developing a postnup to protect their rights and interests.
