Family law in Texas is not just about marital status but about finding ways to protect assets and navigate challenging situations in the best ways possible. These situations can include anything from property division to child custody and more. For some people, a prenuptial agreement can be a helpful tool. While in the past, such documents were considered to be only needed for the wealthy. However, today they are growing in popularity among other groups as well.
Another related agreement can also be helpful to married couples. A postnuptial agreement can be developed if spouses did not institute a prenuptial agreement draft before getting married but later find themselves in a situation that could benefit from such a marital contract. A recent news article discussed in particular the benefit of postnuptial agreements for women that quit their jobs in order to stay home and raise their children.
Often, women lose tremendous earning potential when they remain out of the workforce for several years. An example was given of a woman who left a $500,000-a-year job to be a stay-at-home mom. Upon re-entering the workforce 10 years later, she was making just over $100,000. The fact that Texas is a community property state may help such women but that does not negate the assistance that may be gleaned from the formalized postnuptial contract. To some experts, it is a smart way for women to protect rights.
Whether you are already married or not yet married, talking with a family law attorney about a prenuptial or postnuptial agreement may be helpful to you and your partner. The ability to ensure fairness in a marriage and even in a potential divorce can be important.
Source: The Daily Beast, “Why Stay-at-Home Moms Should Demand Postnuptial Agreements,” Keli Goff, December 3, 2013