Modifying Marital Agreements
While people typically expect their marriages to endure throughout their lives, some people have the presence of mind to understand that many marriages end, and it is practical for parties to protect their interests via marital agreements. Marital agreements can help prevent protracted litigation in the event of a divorce, but circumstances can change over time and render a once-appropriate marital agreement unsuitable. In such instances, it may be appropriate for parties to contemplate taking the measures necessary to alter their marital contracts. If you are considering changing your prenuptial or post-nuptial agreement, you should speak to an attorney experienced at modifying marital agreements to assess your options. The trusted Dallas family-law attorneys of McClure Law Group are heedful of the importance of having a sound marital agreement in place, and if you engage our services, we can assist you in seeking your desired modifications.Common Grounds for Modifying Marital Agreements
There are numerous reasons parties may want to modify their marital agreements. For example, one party’s income or financial status may change drastically, prompting the parties to reassess the character of their assets as defined by the marital agreements or their right to spousal support. In other cases, one party may suffer a decline in health, motivating the parties to include provisions to ensure that the ailing spouse is adequately taken care of financially in the event the other spouse dies or the parties divorce. If a couple has children and one spouse stops working to raise the children and take care of the household, the couple may want to alter the terms of their marital agreement to provide the spouse who no longer works with greater property and spousal support rights, so that they are financially protected if the marriage ends.Modifying Marital Agreements Under Texas Law
The Texas Family Code (the “Code”) permits parties to enter into both premarital and marital property, or “post-nuptial,” agreements. Premarital agreements are contracts between future spouses that they enter into in contemplation of marriage. Such agreements are effective and enforceable on the date of the marriage without any consideration exchanged between the parties. They must be in writing and signed by both parties. Premarital agreements can be used to define the obligations and rights of each party with respect to property they either have or will acquire in the future and how any property will be disbursed in the event of divorce or either party’s death. Premarital agreements can also be used to make wills or trusts, define rights with regard to spousal support, and for any other matter that does not violate public policy or the law. They cannot be used to affect the right to child support, however. After the parties are married, their premarital agreement can only be revoked or modified via a written agreement signed by both parties.
Similarly, marital property agreements are contracts used by parties to define property rights; they differ from premarital agreements in that they are entered into by spouses after the date of marriage. They can be used to define separate and community property and partition or exchange all or part of community property. They must be in writing and signed by the parties as well and do not require the exchange of consideration to be enforceable. Any changes to marital property agreements must be in writing and signed by both parties as well.Confer With a Capable Dallas Attorney Today
Marital agreements can provide people with peace of mind that their interests are protected, but if agreements become outdated or unsuitable, they may need to be modified. If you need assistance altering a marital contract, you should confer with an attorney as soon as possible. The capable Dallas lawyers of McClure Law Group are proficient at modifying marital agreements, and if we represent you, we will fight to help you seek the changes you prefer. Our main office is in Dallas, and we are available to meet parties for conferences at our Collin-County office in Plano. We frequently help parties with family-law matters in Dallas, Rockwall, Fort Worth, McKinney, Richardson, Frisco, Garland, and Irving. We also assist people with family-law issues in cities in Dallas, Denton, Collin, Tarrant, Rockwall, and Grayson Counties. You can contact us by calling us at 214.692.8200 or using our online form to set up a confidential meeting.