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Rise of post nuptial agreements

Many Texas residents may have heard of a prenuptial agreement-an agreement signed before two people get married that details the division of assets post divorce. However, another type of contractual agreement dictating property division is on the rise-a post nuptial agreement. Unlike their more commonly known partner, these documents are signed after the wedding and in some cases many years after the wedding.

Similar to a prenup, these contracts outline the way assets and property will be divided after a divorce. However, it makes for an easier conversation to have during the marriage rather than before it, when couples can get into fights over signing the document before walking down the aisle.

According to some experts, there are a number of reasons why couples may decide to enter into a post nuptial agreement. One of the more common reasons would be to update their prenuptial agreement. Situations may change, causing a couple to reassess the way they wish to decide assets and therefore a prenuptial agreement is one way that can be reflected. Some couples with family businesses often enter into these agreements to ensure their businesses will remain in the family and isn't risked if the couple decides to end their marriage.

There are a number of reasons people may choose to enter into a prenuptial or post nuptial agreement. But it is wise to consider consulting independent counsel to guide parties through the property division process, as there are a number of factors that must be considered when creating these agreements to ensure they are enforceable.

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