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Ely
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 86628
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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My husband & I are likely to divorce. He is just entering

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My husband & I are likely to divorce. He is just entering into a business situation that will potentially make him a significant amount of money. We have been married for 19 years and have 3 children. He has admitted to committing adultery and I have proof of the adultery. Given that I still want to keep our marriage & family together. However it appears he may file for divorce. My question is can we enter into a contract that says he will pay may a certain percentage of his future earnings?
Submitted: 8 months ago.
Category: Legal
Expert:  Ely replied 8 months ago.
Hello friend. My name is XXXXX XXXXX welcome to JustAnswer. Please note: (1) this is general information only, not legal advice, and, (2) there may be a slight delay between your follow ups and my replies.

I am very sorry for your situation. Can you please tell me - and this is very important - the money that is being used to enter into the deal: is this money from an account of shared money, or, from an account of money he had prior to the divorce?

Or, from an account of money prior to the divorce but it has been commingled with general money of you and him?

This is not an answer, but an Information Request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.
Customer: replied 8 months ago.

We are not divorced. He will be buying ownership into an existing company and will use money earned during our marriage.

Expert:  Ely replied 8 months ago.
Lea,

Thank you. I actually meant "Or, from an account of money prior to the marriage..."

But you answered my question anyhow masterfully and please hold on momentarily as I am writing out an answer...
Expert:  Ely replied 8 months ago.
L,

Apologies for the wait.

My question is can we enter into a contract that says he will pay may a certain percentage of his future earnings?

Yes. This would be called a POST NUPTIAL AGREEMENT and is very common in Texas, and is recognizable by law. Then, if the two of you get divorced, it controls and overrides default law of division of property/assets and also obligates him to pay you whatever the contract states - this would be incorporated into the divorce decree.

I am including a sample agreement below. Notice that a notary would be necessary for this to hold up in Court.

MARITAL PROPERTY AGREEMENT


This Marital Property Agreement (hereinafter “Agreement”) is made this Sixth day of June, 2009, pursuant to Chapter 4 of the Texas Family Code and to Article XVI §15 of Texas Constitution, by and between HUS (hereinafter “Husband”) and WIF (hereinafter “Wife”) and collectively hereinafter “parties,” to provide for definition of their respective marital property rights.

WHEREAS both parties are desirous to enter into this Agreement in regards XXXXX XXXXX and community property accumulated before and during the span of their legal marriage;

NOW THEREFORE in consideration for the mutual covenants herein, the parties agree to the following:

1. Matrimonial Domicile
The parties, married and residing in the State of Texas and having substantial and continuing ties with the State of Texas, do specifically recognize and agree that the State of Texas is and shall be their matrimonial domicile and intend that the laws of the State of Texas shall govern all matters concerning their marital property. The provisions of this Agreement shall prevail over any contrary provision of law which may be supplanted or modified by private agreement.

2. Separate Property

3. Community Property

4. Payment of percentage/amount of (business)
The spouses agree: (WHATVER THE AGREEMENT IS)

5. Severability
In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement. All remaining provisions of this Agreement shall then continue in full force and effect. If any provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the scope and breadth permitted by law.

6. Entirety
This constitutes entire contract. This Agreement including any addendums or exhibits hereto which are by this reference made a part hereof, contains the entire agreement relating to the assignment of the vehicle and shall bind and insure to the benefit of all respective heirs, personal representative, successors and assigns of the parties hereto except as hereinabove expressly limited. Any oral representation or modifications of this Agreement shall be of no force and effect, excepting modification in signed by the party to be charged. Except as otherwise provided in this document, this Agreement may be modified, superseded, or voided only upon the written and signed agreement of the parties. Further, the physical destruction or loss of this document shall not be construed as a modification or termination of the Agreement contained herein.

7. Enforceability
The parties hereto specifically agree that the provisions of this Agreement are just and right, having due regard for the rights of each party, and intent hereby to estop themselves from any contention to the contrary in any court or jurisdiction. Each party voluntarily and expressly waives any right to disclosure of property or financial obligations of the other party to this agreement. Each party expressly acknowledges that such party understands that this agreement modifies or eliminates marital property rights which would otherwise exist under Texas law in the absence of this agreement. Each party expressly acknowledges that such party has been advised of his or her right to obtain the services of independent legal counsel with respect to this agreement.



I have read this document and have initialed every paragraph to illustrate my understanding of it. I understand it, and I agree to all the terms of this Agreement.
____________________________________
HUS
SS

I have read this document and have initialed every paragraph to illustrate my understanding of it. I understand it, and I agree to all the terms of this Agreement.
____________________________________
WIF
SS

(NOTARY STAMP & SIG)


I hope this helps and clarifies. Good luck.

Gentle Reminder: Please use the REPLY button to keep chatting, or RATE my answer when we are finished. Kindly rate my answer as one of the top three faces and then submit, as this is how I get credit for my time with you. Rating my answer the bottom two faces does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith. (You may always ask follow ups at no charge after rating.)
Customer: replied 8 months ago.

We live in Tennessee. Do you know if this type of agreement is valid in TN?

Expert:  Ely replied 8 months ago.
L,

Oops! Tennessee, Texas. Tomato, tomhato. Just kidding, of course. Yes, this makes a difference. My sincere apologies for seeing Texas instead of TN. The good news is that my answer stands as is. TN recognizes post nuptial agreements as long as they do not violate public policy (i.e., are very, very unfair to a party). Bratton v. Bratton, 136 S.W.3d 595, 600 (Tenn. 2004).

Adjusted sample below:

MARITAL PROPERTY AGREEMENT


This Marital Property Agreement (hereinafter “Agreement”) is made this by and between HUS (hereinafter “Husband”) and WIF (hereinafter “Wife”) and collectively hereinafter “parties,” to provide for definition of their respective marital property rights.

WHEREAS both parties are desirous to enter into this Agreement in regards XXXXX XXXXX and community property accumulated before and during the span of their legal marriage;

NOW THEREFORE in consideration for the mutual covenants herein, the parties agree to the following:

1. Matrimonial Domicile
The parties, married and residing in the State of Tennessee and having substantial and continuing ties with the State of Tennessee, do specifically recognize and agree that the State of Tennessee is and shall be their matrimonial domicile and intend that the laws of the State of Tennessee shall govern all matters concerning their marital property. The provisions of this Agreement shall prevail over any contrary provision of law which may be supplanted or modified by private agreement.

2. Separate Property

3. Community Property

4. Payment of percentage/amount of (business)
The spouses agree: (WHATVER THE AGREEMENT IS)

5. Severability
In the event any provision of this Agreement is deemed to be void, invalid, or unenforceable, that provision shall be severed from the remainder of this Agreement so as not to cause the invalidity or unenforceability of the remainder of this Agreement. All remaining provisions of this Agreement shall then continue in full force and effect. If any provision shall be deemed invalid due to its scope or breadth, such provision shall be deemed valid to the extent of the scope and breadth permitted by law.

6. Entirety
This constitutes entire contract. This Agreement including any addendums or exhibits hereto which are by this reference made a part hereof, contains the entire agreement relating to the assignment of the vehicle and shall bind and insure to the benefit of all respective heirs, personal representative, successors and assigns of the parties hereto except as hereinabove expressly limited. Any oral representation or modifications of this Agreement shall be of no force and effect, excepting modification in signed by the party to be charged. Except as otherwise provided in this document, this Agreement may be modified, superseded, or voided only upon the written and signed agreement of the parties. Further, the physical destruction or loss of this document shall not be construed as a modification or termination of the Agreement contained herein.

7. Enforceability
The parties hereto specifically agree that the provisions of this Agreement are just and right, having due regard for the rights of each party, and intent hereby to estop themselves from any contention to the contrary in any court or jurisdiction. Each party voluntarily and expressly waives any right to disclosure of property or financial obligations of the other party to this agreement. Each party expressly acknowledges that such party understands that this agreement modifies or eliminates marital property rights which would otherwise exist under Tennessee law in the absence of this agreement. Each party expressly acknowledges that such party has been advised of his or her right to obtain the services of independent legal counsel with respect to this agreement.



I have read this document and have initialed every paragraph to illustrate my understanding of it. I understand it, and I agree to all the terms of this Agreement. I have had a chance to have counsel look over this agreement.
____________________________________
HUS
SS

I have read this document and have initialed every paragraph to illustrate my understanding of it. I understand it, and I agree to all the terms of this Agreement. I have had a chance to have counsel look over this agreement.
____________________________________
WIF
SS

(NOTARY STAMP & SIG)


Apologies again for the misunderstanding earlier.

Gentle Reminder: Please use the REPLY button to keep chatting, or RATE and submit your rating when we are finished.
Ely, Counselor at Law
Category: Legal
Satisfied Customers: 86628
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
Ely and 3 other Legal Specialists are ready to help you
Customer: replied 8 months ago.

Great! Thanks so much for the information.

Expert:  Ely replied 8 months ago.
You are very welcome. Good luck, and please don't forget to rate my answer in one of top three faces and then SUBMIT – it is the only way I get credit for my time with you – or, please REPLY to keep on chatting – I want you to be satisfied.

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