renuptial Agreement Lawyer Protecting Your Assets in Divorce
Nobody wishes for or foresees divorce, yet 40-50 percent of marriages in the U.S. end in dissolution. While marital agreements, namely prenuptial or postnuptial agreements, are not the most romantic aspect of a union, they are nonetheless critically important. These legally binding agreements protect each partner’s property, and make the divorce process easier if your marriage does not endure. If you are considering signing a prenuptial or postnuptial agreement, reach out to a dedicated prenuptial agreement lawyer. Attorney Ryan Dougay has years of experience in family law and will work closely with you to draft marital agreements that protect your best interests. Contact The Law Office of Ryan S. Dougay online or call (512) 469-0811 today to schedule your consultation.
A prenuptial agreement is created and signed before a couple walks down the aisle. Its purpose is to clarify the division of property and spousal supportshould a marriage dissolve. It is considered a contract, much in the way marriage is considered one, and is enforceable by law. Sometimes simply referred to as prenups, these agreements may outline the terms of other marital issues besides property division, such as child custody, visitation, and support. There may also be clauses that are punitive, such as the forfeiture of assets, if the divorce is based on a spouse’s poor conduct, like adultery. In addition to protecting partners’ from each other, prenups can protect property from creditors. Prenups may also outline that property is transferred to a spouse, and not in entirety to the children, in the event of a partner’s passing. Although many consider prenuptial agreements a measure only taken in high-asset cases, the truth is that many couples can benefit from this process.
When a couple who is already married decides to outline the terms of their division of assets, spousal support, joint or sole custody, or other marital matters related to a possible divorce, it is called a postnuptial agreement. These documents differ from premarital agreements simply in that they are drafted and executed after the couple has wed.
A pre or postnuptial agreement provides extraordinary protection against the division of property outlined by Texas law.
A postnuptial agreement can be created anytime after a couple has entered into matrimony, although it is commonly formed when a couple is experiencing marital problems. Postnuptial agreements are not as ironclad in the eyes of the law as their prenuptial counterparts, and can therefore be harder to enforce during a contested divorce. For this reason, prenuptial agreements are always preferable.
Why a Prenuptial or Postnuptial Agreement?
The state of Texas is a community property state, which means that at the time of divorce, collective property accumulated during the marriage will be divided between each partner. It does not matter how disparate the income, savings, real estate, or other assets; all of the wealth will be taken into consideration. For example, if you started a successful business while married, it would be divided in a divorce and ownership would be split with your spouse. The only caveat to this arrangement is if a prenuptial or postnuptial agreement outlines a different method for property division. Such an agreement provides extraordinary protection from the loss of properties or investments.
Protect Your Assets
Learn how Mr. Dougay can create a prenuptial or postnuptial agreement that protects your property throughout your marriage and after, if necessary. Schedule your consultation by reaching the firm online or by calling (512) 469-0811.