“Is it possible to create a marital agreement regarding property with your spouse after you’re married?”
Many times prospective spouses have substantial assets, children from other marriages, partnership or business agreements, or other reasons why they believe it is important, before marriage, to enter into a Premarital Agreement defining the respective rights and obligations of each party. The parties to a Premarital Agreement may contract with respect to the rights and obligations of each party and any property of either or both of them whenever or wherever acquired or located; the right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of, or otherwise manage and control property; the disposition of property on separation, marriage, death, or on the occurrence or nonoccurrence of any other event; the modification or elimination of spousal support; the making of a Will, Trust, or other arrangement to carry out the agreement; the ownership rights in and disposition of death benefits from a life insurance policy; the choice of law governing the construction of the agreement; and including almost any other matter. Texas courts have taken the position in recent years that they will uphold the enforcement of any marital agreements and there are very few exceptions where a party can avoid the effects of a premarital agreement. As a practical matter in preparing a premarital agreement it is necessary that each party to the agreement have their own attorney.
Also, after the parties are married, from time to time they decide that they wish to have a formal agreement concerning community property, separate property, the income from their separate property, and income from their community property. Also, it is possible for them to convert community property to separate property, or separate property to community property. Again, in recent years the Texas courts have almost consistently upheld the enforcement of post marital agreements and only under a few limited circumstances can one avoid consequences of a post marital agreement. Again, each spouse should be represented by an attorney of their choice regarding representation of a post marital agreement.
John K. Grubb practices family law in Houston. He has a BBA, MBA, and a JD Degree. John K. Grubb focuses a significant part of his family law practice on helping couples create premarital and prenuptial agreements in Texas.