Postnuptial Agreements Lawyer in McKinney, TX
Most people are familiar with the concept of a prenuptial agreement but are unaware of a similar document they can sign after their wedding vows are said. Postnuptial agreements are valuable if the circumstances of a married couple change dramatically. Each spouse can have peace of mind knowing their assets are protected in the event of divorce. At Petitt Family Law, you can learn more about what is needed for this document by speaking with a McKinney postnuptial agreement lawyer. Attorney Melody Petitt has over 20 years of experience in family law matters, such as divorce, child custody, and other concerns. Our postnuptial agreements lawyer is ready to work for you.
How a Postnuptial Agreement Can Protect Your Marital Property
Married couples want to focus on making their relationship stronger so it will last. Discussions about prenups or postnups may feel like a direct contradiction to happiness since they address what will happen when a marriage ends. While it is true that talking about a postnuptial agreement may be uncomfortable and lead to awkward arguments, these agreements can be one of the smartest moves you can make.
Money and property can be touchy subjects in any relationship. Postnuptial agreements have the benefit of laying out what each spouse owns and how they expect it to be disbursed in the event of a divorce. Couples who can successfully decide how to address their division of assets and liabilities can end up with even stronger marriages.
Texas is a community property state, so all money and property that come into the marriage are considered marital assets. Your community assets are subject to a just and right division by the court in a divorce unless you have a legal agreement saying otherwise. You can protect any separate property you owned prior to the marriage or partition community property in a postnup. Likewise, both of you can ensure that your financial situation is under your control.
Examples of How Postnuptial Agreements Are Used
Postnuptial agreements are often created when something dramatic has changed in a marriage. Some examples include:
- One spouse wins a significant lottery.
- One spouse receives a large inheritance of money or property in their name only.
- Children are born, and one parent wants to ensure generational assets are handed down to them.
- One spouse starts a business that becomes extremely successful, and the other spouse puts in “sweat equity.”
- Couples purchase multiple houses, vehicles, or other assets and want to detail the post-divorce property division.
- Partners each have a separate bank account and want to ensure they retain those in the event of a divorce.
- There are children from previous partnerships, and each parent wants to establish custody and child support expectations.
Note that postnuptial agreements do not legally define child custody or child support terms.
Precautions to Take When Considering a Postnuptial Agreement
Postnups are generally a good thing, even if both spouses are evenly matched in terms of significant assets or money. However, there are some things to consider that could mean you should think twice before signing. No matter how much you trust your spouse, you must engage a skilled postnuptial agreements attorney to review the document and negotiate your changes.
You should not sign a postnuptial agreement if you have not had sufficient time to review it. This includes having your lawyer review it for any unfair or illegal clauses. Without experienced legal advice, you could sign a binding contract you must follow during a divorce.
You can only fight the agreement in specific situations, such as if you can prove your spouse committed fraud by not fully disclosing their assets. Your family law attorney can hire forensic accountants to investigate your spouse and determine if anything is hidden or devalued. It is far easier to perform this investigation prior to signing the document.
You should also never sign if you feel you are being pressured or forced into the agreement. As with fraud, you can claim this later during the divorce proceedings, but it requires extensive legal representation and may fail before a judge. The best course is to work with a postnuptial agreement attorney so the document is fair and equitable from the beginning.
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Melody was easy to work with, listened to what I had to say, and helped me navigate a complicated divorce. Her knowledge of the law made it easy to feel confident in our case. She was very professional and could not have been more thorough. I would highly recommend her to anyone looking for a great attorney who is willing to fight for you.- Taylor
You don’t know what you don’t know. However, you do know when something is not working out. With that said, I went through a couple of attorneys before being represented by Melody Petitt and that made all the difference.
I will start off saying that the divorce process is like a game. And the law is the rule book, which is a constant that does not change. Where the game gets interesting are the players involved, petitioner, respondent and legal team. Every case is unique, yet some attorneys approach the process as if it’s all the same. However, in my case, we were dealing with a high conflict personality; and, it cannot be taken lightly. Unlike my prior attorneys, Melody jumped on my case and took the time to really understand my situation and what we were dealing with. She took the time to educate me on the law and how it applied in my situation, whether it was something I wanted to hear or not. The law is the law. She knew how to deal with the opposing party. Strategy was the key, and she was prepared for anything. She earned my trust and with that trust, she help make this process tolerable. Most importantly, she was able to get my case wrapped up in a timely manner with a desirable outcome. An outcome that would not have been possible otherwise. I highly recommend Melody Petitt.- Dai
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