Couples who did not sign a premarital agreement before getting married may complete a postmarital agreement to save time and litigation expenses in the case of divorce. These agreements typically outline how community property will be handled, which can involve wages, real property, and income earned from separate property that was accumulated individually before entering the marriage. Community property includes the assets owned jointly by a married couple. Unlike other states, Texas courts divide property in a way that is considered “fair and just,” which isn’t always “equal.” Couples who file a postnuptial or postmarital agreement can use it to exchange and move around their community and separate property how they see fit.
Partition and Exchange Agreements
Partition and exchange agreements are for individuals who wish to convert community property into their own separate property, or conversely, separate property into community property. The agreement can be initiated at any time, just as long as it takes place after the couple enters a marriage. In order for it to be enforceable, both spouses must sign the agreement – in some cases, however, a spouse may challenge the agreement in an effort to avoid the agreement’s enforcement.
In order to make the agreement unenforceable, a spouse must show that:
- There was no voluntary signing of the agreement
- The agreement was unreasonable
- The spouse was not given full disclosure of the obligations outlined in the agreement
Questions about postmarital agreements? Contact us today!
Although these types of agreements aren’t necessarily a very romantic aspect of a marriage, they can be extremely beneficial for some couples. At Hunt Law Firm, PLLC, our Katy divorce attorney has experience assisting clients with divorce matters, including postmarital and partition and exchange agreements. At our firm, you can trust that we prioritize your best interests above all else.
Secure the legal guidance you need by calling Hunt Law Firm, PLLC at (352) 781-0320. Schedule your consultation today!