Modifying Marital Property Agreements

Marital-Property Agreements and Texas Law

In Texas, couples can make agreements before or after their wedding that outline their respective obligations and entitlements in the event of a divorce. Premarital agreements, which are entered into before the wedding, come into effect on the wedding date, whereas post-marital agreements are signed during the marriage and become operative immediately. The rules for premarital and post-marital agreements are largely the same in Texas. Specifically, they must be documented in writing as the courts will not enforce oral agreements. Furthermore, they must be signed by both parties, and entered into voluntarily. The agreement generally cannot be unfair, although there are some exceptions where unfair agreements can still be upheld. If an agreement is deemed unfair, the Texas Family Code requires the court to uphold it, provided that both parties were informed of each other's assets and debts, or have waived the right to disclosure in writing.

Modifying Marital-Property Agreements

There are several circumstances that may arise prompting parties to seek modifications to their marital-property agreements in Texas. For instance, one may acquire separate property such as real estate or start a business, which they would like to protect through an amendment to the agreement. Alternatively, a couple may agree that one party should receive spousal support in the event of a divorce and therefore wish to modify their marital-property agreement accordingly. Changes in employment, health, and income can also trigger alterations to marital-property agreements.

Under Texas law, it is possible to modify a marital-property agreement by entering into a subsequent agreement that either amends or voids the original one. Both parties must agree to the new terms for the modification to be effective. While obtaining legal representation is not mandatory, it is advisable for each party to hire their own lawyer to avoid unintentionally waiving rights or agreeing to unfavorable conditions. Additionally, if both parties are represented by attorneys during the modification process, they are less likely to dispute the validity of the agreement in case of a divorce. It is also more challenging for either party to challenge the marital-property agreement after signing it if they had legal representation when signing it. Essentially, the same requirements that apply to executing a marital-property agreement apply to modifying it. The agreement must be in writing, signed, and entered into voluntarily, with full knowledge or disclosure of each party’s assets and liabilities or with a written waiver of the right to such disclosure.

Speak with an Experienced Divorce Attorney

A marital-property agreement can be instrumental in avoiding lengthy and acrimonious legal battles should a couple decide to end their marriage. However, certain situations may arise that require modifications to such agreements. The attorneys at Wilson Whitaker Rynell have extensive experience helping clients create marital agreements that protect their assets in the event of a divorce. Our firm represents clients in divorce cases in various Texas cities, including Dallas, Austin, Houston, Fort Worth, and all cities within Dallas County, Tarrant County, Collin County, and Denton County.