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Divorce Issues: Prenups Need to be Revised After Life Events

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In the past few years, people are entering marriage at a later age. They seek to explore first and pursue their individual ambitions. As a result, many of them already have assets prior to marriage. Many of them have an interest to protect their assets. This is also why prenuptial agreements have become more popular.

Revisions in the Prenuptial Agreement

Prenuptial agreements clarify property distribution, which can help narrow down the community property in case of divorce. The couple specifies some properties as separate property with a prenup. Of course, subject to conditions of the law. 

Couples can actually revise the agreement by making a postnuptial agreement. These agreements actually exist, although they are not as common (and usually involves less drama) than the prenuptial counterparts. It will allow the couple to take into account the changes in each other’s circumstances after the marriage.

Other circumstances like an incurable disease can force the couple to make preparations in anticipation of death. 

Postnuptial Agreements and Spousal Support

Spousal support is usually in postnuptial agreements. The state of Texas has very strict conditions for spousal support. Usually, those with marriages that lasted less than ten years are prohibited to petition for alimony. A postnuptial agreement can remedy this.

The postnuptial agreement allows the couple to specify the amount/percentage of income to be paid. Couples can also extend the duration or totally eliminate spousal maintenance in the event of divorce.

Agreements on Family Business

Another major change in a couple’s life is when they venture into a family business. The post-nuptial agreement may be a business plan in case the couple would end up in divorce. It is only practical to address possible issues that may arise, specifically the designations of the couples in the company. 

The postnuptial agreement can specify the delegation of a certain role. For example, appointing their adult child or relative to replace one of the spouse’s roles.

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Hutton Law

Mr. Hutton is a Divorce and Custody Lawyer based out of Round Rock, TX. His background is with child psychology at Arizona State University where he received a B.S. in 2006, and he continued this by working with the Children’s Right’s Clinic at the University of Texas School of Law where he received his J.D. in 2009. Throughout his practice, he has been a strong proponent of utilizing modern technology to improve his practice and the representation of his clients. He currently is the technology chair of CAFA of Travis County and is committed to improving and modernizing the practice of law in Texas. If you have any questions you can contact him at timothy.hutton@austintexaslegal.com

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