What is the Point of a Postnup?
A postnup is a pillar of a good marriage.
A postnup has the same force, effect, and purpose as a prenup. Additionally, in many cases, a well-timed postnup may be more effective than a prenup. Postnups take full advantage of the emotional benefits of property agreements. Spouses usually sign postnups after the honeymoon period ends and day-to-day details, like relationship-ending money squabbles, set in.
Marital property agreements take money out of the equation, so these disputes never have a chance to undermine a relationship. These agreements also clearly set forth property management responsibilities, once a spouse’s talents and interests become clearer. Finally, like any other insurance policy, a post nup prepares couples for the unexpected and unwanted. Perhaps best of all, a Ft. Worth family law attorney can draft a comprehensive post nup in just one office visit.
Property Agreement Nuts and Bolts
Postnups and other property agreements primarily focus on financial matters. Disputes over such matters are not only a leading cause of divorce. Should the unexpected come, they are also often the most time-consuming portion of a marriage dissolution proceeding.
Property ownership rights should be crystal clear right off the bat. Property agreements distinguish between what is yours, mine, and ours.
Assume Husband, a doctor, owned a struggling practice before the marriage. Wife, a medical office manager, joined the office staff, and the practice became profitable. If the couple divorces, the medical practice could be Husband’s separate property, Wife’s separate property, or community property, depending on the additional facts.
A property agreement, which is amendable by agreement at any time, gives the practice one of these three labels.
The same thing is true in reverse. Dr. Husband may use proceeds from the practice (community asset) to pay off his student loans (separate debt). In the event of divorce, Wife may be entitled to substantial reimbursement, unless a postnup provides guidance in this area.
Postnups are perhaps best known for their spousal support limitations. Most property agreements include stair-step limitations. The alimony ceiling gets higher the longer the marriage lasts.
As for emotional benefits, property agreements usually strengthen marriages, as mentioned above. Furthermore, and this benefit is especially key if either spouse has children from a previous marriage, post nups put inheritance and succession matters into black and white.
Enforcement Issues
Texas lawmakers have adopted the Uniform Marital and Premarital Agreements Act. The UMPAA streamlines many issues in these matters, especially enforcement issues. Usually, a challenging spouse can overturn certain provisions in a postnup if:
- Involuntary: Property agreements are involuntary in extreme duress situations (e.g. Husband hands Wife a prenup when she joins him at the altar). One party’s fraud also makes an agreement involuntary, if the information was unavailable elsewhere.
- Unconscionable: An unconscionable agreement is so one-sided that it turns the stomach (e.g. you get all the debt and I get all the assets). The agreement must have been unconscionable when it was made. Stock options may be worthless one day and extremely valuable the next day.
Most marital property agreements have severability clauses. If a judge invalidates one portion, the remainder is still in effect.
Reach Out to a Dedicated Tarrant County Attorney
Postnups strengthen marriages. For a confidential consultation with an experienced family law attorney in Ft. Worth, contact the Law Office of Kyle Whitaker by calling 817-332-7703 or going online now. Convenient payment plans are available.