How much does a Texas postnuptial agreement cost? This a common question that couples in Texas often ask after they have been married. Let’s explore this question and review some general information about postnuptial agreements and why they are important.
How Much Does a Postnuptial Agreement Cost in Texas?
A postnuptial agreement, also called a marital property agreement in Texas, is a legally binding contract created by a couple after entering a marriage. Postnuptial agreements establish how property, assets, and debts will be divided if the couple decides to divorce or if one spouse dies.
Postnuptial agreements can complicated documents especially if the couple has valuable assets or children from prior marriages. For this reason, many Texas couples choose to hire an attorney to draft their postnuptial agreement. An attorney will know what information needs to be included to protect both parties and be legally enforceable in a Texas court.
Based on ContractsCounsel's marketplace data, the average cost of a postnuptial agreement in Texas is $716.45.
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Why Do I Need a Postnuptial Agreement in Texas?
Postnuptial agreements can be a difficult topic to discuss because most couples don’t go into a marriage planning for a divorce, however these contracts can be great tools. Postnuptial agreements allow couples to protect their assets and plan their financial future.
Texas is one of nine states that follows community property laws. This means that once a couple marries, any assets or debts obtained are equal responsibility of both spouses. Without a postnuptial agreement, when a couple divorces, all assets and debts will be equally split by the court no matter which spouse was responsible for incurring the financial gain or burden.
Is a Postnuptial Agreement Enforceable in Texas?
The Texas Family Code lays out the legal requirements for marital agreements in Texas. This statute addresses what topics can be covered in a marital agreement and how these agreements may be revoked, amended, or enforced.
According to Texas law, a postnuptial agreement must be in writing and must be signed by both parties to be legally enforceable. A postnuptial agreement will not be enforced if any of the following conditions are proven:
- The agreement was not signed voluntarily
- The agreement was unconscionable when signed
- Fair reasonable disclosure of assets was not provided
Unconscionability is also raised when one party has more bargaining power over the other; for example, if one spouse has limited earning power and is supported by the other spouse.
What's Typically Included in a Texas Postnuptial Agreement
The contents of a postnuptial agreement will vary based on the couple’s financial situation. Most Texas postnuptial agreements cover the following issues:
- How finances will be managed throughout the marriage
- How property (both assets and debts) will be divided in the event of a divorce
- Which spouse will have control over certain property gained during the marriage
- The amount of alimony paid after a divorce
- How assets will be distributed if one spouse dies
In Texas, a postnuptial agreement typically cannot dictate child support and child custody. These matters are determined by considering what is best for the child because child support is the child’s right. If a marital agreement does address custody and child support, a court can consider the party’s wishes, and as long as it is in the best interests of the child, it may be upheld.
Benefits of a Postnuptial Agreement
Postnuptial agreements provide couples with many benefits. Some of these benefits include:
- Protection of assets
- Protection from debts
- Reduced suspicion
- Customized plan to distribute assets in a divorce
- Avoidance of a typical divorce settlement
- Comprehensive planning for the future
- Peace of mind knowing that financial matters are settled
A postnuptial agreement allows couples to settle the most contentious financial matters before the breakdown of the relationship that occurs during a divorce.
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Postnuptial Agreement Drafting in Texas
Postnuptial agreements are important documents that can have lasting financial effects on a couple’s lives. It is important that these legally binding contracts are drafted properly by a knowledgeable lawyer who is familiar with Texas laws.
Before drafting a marital agreement, a lawyer will have a consultation with the couple. The lawyer will need to document all the couple’s assets and debts so they can be included in the contract to avoid any issues of unconscionability. Once the lawyer has collected all pertinent information, a customized postnuptial agreement is drafted.
Postnuptial Agreement Review in Texas
Templates for postnuptial agreements are available online so it is possible for a couple to draft their own contract. If spouses draft their own postnuptial agreement, it is highly recommended that they have a licensed attorney review their agreement before signing.
An attorney will look over the contract to ensure that it is fair and abides by all Texas laws. The last thing a couple would want in a divorce is to find out their postnuptial agreement is invalid or unenforceable.
Texas Postnuptial Agreement Drafting Cost
When a couple hires a lawyer to draft their postnuptial agreement, they will incur legal fees because drafting a contract requires the time and legal expertise of a licensed lawyer.
According to ContractsCounsel's marketplace data, the average Texas postnuptial agreement drafting costs are $1,018.75.
Reviewing a Texas Postnuptial Agreement Cost
Hiring an attorney to review a postnuptial agreement will also come with legal fees. The lawyer will use their legal expertise and knowledge of Texas law to review the contract and ensure it is legally binding.
ContractsCounsel's marketplace data shows the average postnuptial agreement review costs in Texas are $414.14.
How Do Texas Lawyers Charge for a Postnuptial Agreement?
Hourly Rates for Postnuptial Agreements
It is common for Texas family law attorneys to use an hourly rate fee structure to bill their clients. Under this fee structure, a lawyer will inform the client of their hourly rate then bill the client for the amount of hours spent working on a case or project.
Billable hours can include consultations, drafting time, revisions, communications, and the time of other staff in the office like paralegals or secretaries.
The marketplace data for ContractsCounsel shows the average hourly rate for a family lawyer in Texas ranges from $200 - $300 per hour.
Flat Fee Rates for Postnuptial Agreements
When a lawyer is hired to complete a drafting project like writing a postnuptial agreement, they may choose to quote a flat fee rate instead of billing by the hour. The attorney will use their experience to estimate how long the drafting project will take then quote the client a fair flat fee for all legal services.
It is important that the client reads over the fee agreement carefully and understands what services are included in the flat fee. Additional consultations or revisions may end up costing more money.
ContractsCounsel's marketplace data shows the average flat fee rate for a postnuptial agreement in Texas is $716.45.
Get Help with a Texas Postnuptial Agreement
Do you need help with a postnuptial agreement project? If so, post a project in ContractsCounsel's marketplace to receive flat fee bids from family lawyers who are licensed to practice law in Texas and can handle your project. All lawyers on the ContractsCounsel's platform are vetted by our team to make sure you are provided with top-tier service.