Weblog
Specialty tag(s): Prenuptial and Postnuptial Agreements
Jonathan James | October 3, 2022
Texas is a group property state, which implies there’s a presumption that cash made, and belongings acquired throughout a pair’s marriage are group property (collectively owned). And within the case of a divorce, they’re usually divided between the events in a settlement that goals to be truthful and equitable, if not solely equal. Nevertheless, there are additionally legal guidelines that apply to inheritances or items obtained throughout the marriage and different belongings gained by one of many spouses earlier than marriage, which they might personal completely if they’ll show the inheritance, reward, or possession was earlier than marriage.
What occurs when belongings are commingled throughout a wedding?
However what occurs when individually held belongings and group belongings turn out to be commingled throughout the marriage? Or what occurs when the acquisition of an asset comes into query throughout divorce proceedings, with one partner claiming it was acquired earlier than marriage and the opposite partner claiming it was acquired throughout the marriage? What about shares or different investments that acquire worth or produce revenue throughout a wedding?
These questions make divorce proceedings difficult and contentious – however luckily, one thing is out there that retains questions on separate and group property from getting into the divorce equation. Pre-marital and post-marital agreements (also called pre-nuptial and post-nuptial agreements) are the gold commonplace for shielding belongings in a divorce and defending {couples} from the acrimony that may outcome from fights over belongings.
What are some great benefits of a pre-marital settlement?
For a lot of {couples}, the largest impediment to getting a pre-marital settlement is bringing it up within the first place. Individuals can’t recover from the sensation that it’s unromantic to convey up the potential for the wedding not lasting eternally. Whereas I perceive that individuals are optimistic about their marriages figuring out as they plan their weddings, I do know {that a} pre-marital settlement is an insurance coverage in opposition to future disputes – so it needs to be a part of a monetary dialogue that {couples} have as they put together to make plans for an extended future collectively. They can be reminded that, for engaged {couples} who’ve kids from a previous relationship, the pre-marital settlement helps defend belongings for his or her kids—not simply within the case of divorce, but in addition if a partner dies throughout the marriage. So, it doesn’t essentially assume divorce.
What are some great benefits of a post-marital settlement?
A post-marital settlement might be simply as efficient as a pre-marital settlement and might be utilized for particular eventualities to guard belongings. For instance, if a pair needs to make use of a part of the spouse’s inheritance towards a down fee on a home, the couple can draw up an settlement stating what quantity went towards the home and the way the home sale proceeds could be divided. On this case, the couple can get a house that they won’t be capable to get with simply collectively held belongings and keep away from disputes that may come up down the street. Some married {couples} determine to have a post-marital settlement simply to lower disputes and stress over funds. This will save marriages, but when it doesn’t, the divorce is usually extra simple as a result of the belongings are already divided.
What are the choices if you don’t get a pre-marital or post-marital settlement?
If a pair doesn’t choose to get a premarital or post-marital settlement; there are different actions every partner can take towards defending their belongings, together with:
- Having bodily proof of when inheritances and different pre-marital belongings have been awarded and purchased
- Avoiding commingling of separate and group belongings (together with avoiding commingling revenue produced by separate property, which is mostly thought-about group property with no pre-marital or post-marital settlement)
- Shifting individually held belongings right into a belief previous to marriage
But when a consumer of mine has a vital sum of money in inheritance or has a high-net price property or different belongings acquired previous to marriage, I strongly advocate for the gold commonplace of a pre-marital or post-marital settlement. It’s merely one of the best insurance coverage in opposition to arguably essentially the most contentious authorized battle during which an individual would possibly discover themselves. And the price of the pre-marital settlement is nominal in comparison with a contentious divorce, which nobody expects to have however occurs each day.
Be taught Extra
Jonathan James is a extremely expert litigator and negotiator in high-conflict authorized conditions and constantly receives reward from his former shoppers for his integrity, professionalism, and responsiveness. Jonathan is Board-Licensed by the Texas Board of Authorized Specialization in household regulation and is a member of the State Bar of Texas. Moreover, he’s skilled in Collaborative Divorce and has been named a Tremendous Legal professionals Rising Star, 2019-2022 and Finest Lawyer 2020-2021 and 2023 by The Finest Legal professionals in America.
To study extra about premarital and postmarital agreements, please contact Jonathan James at 214-473-9696.
