Premarital and Postmarital Agreements
Protect Your Financial Future Together
A premarital or postmarital agreement gives couples an opportunity to discuss financial expectations and make important decisions before disagreements arise. These agreements are not only for people with substantial wealth. They may benefit anyone who wants to clarify property rights, protect a business or family assets, or establish financial responsibilities during the marriage.
Paula Lock Smyth helps clients in Dallas and surrounding communities prepare premarital and postmarital agreements that reflect their individual circumstances, priorities, and plans for the future.
What Is a Premarital Agreement?
A premarital agreement, commonly called a prenuptial agreement or “prenup,” is a written agreement created before marriage and effective when the couple marries. It allows prospective spouses to decide how certain property, income, debts, and other financial matters will be handled during the marriage and when the marriage ends, either by death or divorce.
A prenup may be especially helpful when one person owns a business, has children from a previous relationship, expects to receive an inheritance, or enters the marriage with significant assets or financial obligations.
What Is a Postmarital Agreement?
A postmarital agreement, also called a postnuptial agreement or “postnup,” is created after a couple is already married. It can address many of the same financial matters as a premarital agreement.
Couples may consider a postmarital agreement when their financial circumstances change. This may include starting or purchasing a business, receiving an inheritance, acquiring valuable property, or wanting to clarify the ownership and management of assets.
What Can a Premarital or Postmarital Agreement Address?
The terms of each agreement will depend on the couple’s financial circumstances and goals. A premarital or postmarital agreement may address:
- The ownership and management of separate and community property
- The division of property if the marriage ends
- Responsibility for debts and financial obligations
- Business interests, investments, and retirement accounts
- The purchase, sale, or transfer of property
- Rights involving life insurance or inheritance
- Whether either spouse will receive spousal maintenance
Premarital and postmarital agreements generally address financial matters between spouses. Issues involving children, including child custody, parenting time, and child support, cannot be determined in advance through these agreements.
Why Should You Consider a Marital Agreement?
A marital agreement can provide financial clarity and help prevent misunderstandings. It may be particularly valuable for couples entering a second marriage, people with children from a prior relationship, business owners, or anyone who wants to protect property acquired before marriage.
Creating an agreement does not mean that a couple expects the marriage to fail. It provides an opportunity for open communication and allows both people to understand their financial rights and responsibilities.
When Should You Prepare a Premarital Agreement?
A premarital agreement should be discussed and prepared well before the wedding. Beginning the process early gives both parties time to exchange financial information, review the proposed terms, seek independent legal advice, and make thoughtful decisions without unnecessary pressure.
Experienced Guidance for Marital Agreements
With more than 30 years of family law experience, Paula Lock Smyth helps clients prepare premarital and postmarital agreements that address their financial goals and individual circumstances. She works closely with clients to identify their priorities, address important concerns, and prepare agreements that comply with Texas law.
Plan for the Future with Greater Clarity
Discussing financial expectations can help couples begin or continue their marriage with a clearer understanding of their rights and responsibilities. A thoughtfully prepared agreement can protect important interests and reduce uncertainty about the future.
Contact Paula Lock Smyth Law Offices at 214-420-1800 or contact us online to schedule a consultation.
Frequently Asked Questions
Are prenuptial agreements enforceable in Texas?
Yes. A properly prepared premarital agreement may be enforceable in Texas when it meets the applicable legal requirements.
What is the difference between a premarital agreement and a postmarital agreement?
A premarital agreement (also called a prenuptial agreement or “prenup”) is signed before marriage and becomes effective when the couple marries. A postmarital agreement (also called a postnuptial agreement or “postnup”) is signed after the couple is already married. Both agreements can address many of the same financial issues, but the timing of when they are created is different.
Can a marital agreement protect a business?
Yes. An agreement may address the ownership, management, income, and future division of a business or professional practice.
Can a marital agreement decide issues involving children?
No. Child custody, parenting time, and child support cannot be determined in advance through a premarital or postmarital agreement.
Can a premarital or postmarital agreement be changed?
Yes. The parties may amend or revoke an agreement through a later written agreement signed by both of them.
