Knoxville Tennessee Family Law Blog | Law Office of Lisa Collins Werner

The proper way to amend a prenuptial agreement

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Monday, February 11, 2019.

Those looking to get married in Tennessee or any other state may benefit from creating a prenuptial agreement. However, once the marriage becomes official, it is not possible to amend that agreement. Instead, it is necessary to create a new pact that addresses any issues that have come up since the marriage occurred. For instance, if a person received an inheritance, an arrangement created by a married couple could say that it is separate property.

However, this assumes that none of the funds have been commingled prior to the post-nuptial agreement becoming official. Any document created after a marriage takes place must be created in the same manner a prenuptial agreement is created. This means that each party to the marriage must make a full financial disclosure to the other. In addition, it must be in each person's best interest as spouses typically have a fiduciary responsibility to each other.

Jenni "JWoww" Farley's husband wants prenup dismissed

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Friday, February 8, 2019.

Tennessee fans of the TV show "Jersey Show" may have heard that Jenni "JWoww" Farley filed for divorce from her husband of three years, Roger Mathews, in September 2018 on the grounds of irreconcilable differences. She asked for primary physical custody of their children with visitation rights for Mathews. She also asked for child support and that their prenuptial agreement be upheld.

In January, Mathews filed a petition in which he also asked for primary physical custody and child support. The petition requested joint legal custody and asked the court to create a schedule for custody and visitation. Mathews also requested alimony and asked that the prenup be dismissed as unenforceable although the filing did not give a reason.

Adopting your stepchild: Requirements

On behalf of Law Office of Lisa Collins Werner on Wednesday, February 6, 2019.

You got married to the person you believe is the love of your life, and with them came a child. Their child is a joy, and you love raising them. Their other parent isn't present in their life, and you're interested in taking over that role.

There are many reasons why you should adopt a stepchild, though it is not always possible. Adopting a stepchild gives you the same rights as any biological or legal parent. This can give you more authority to help your partner's child and to make sure you have the right to see them if you happen to divorce in the future.

Several reasons to get a prenuptial agreement

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Thursday, January 31, 2019.

Very few couples plan to get a divorce when first getting married, but financial advisers say that getting a prenuptial agreement is in everyone's best interests. Rather than being subject to the laws of Tennessee or another state, couples can establish the terms of their divorce on their own independently. Prenups have become more common in recent years, and they are most popular in second marriages and with couples who have business interests.

A major reason why a person would want to get a prenup is if they have more wealth or earn more money in their profession than their future spouse. State law may allow a spouse to keep the assets they earned before getting married, but this isn't always the case. For those who earn less than their spouse, making arrangements that help them maintain a good quality of life after divorce is important.

Students may benefit from prenuptial agreements

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Tuesday, January 22, 2019.

When Tennessee students think about getting married, they may not think that prenuptial agreements may be useful for them. Many consider prenups to be a matter for people with significant family wealth or celebrity. However, in practice, these agreements can be a wise choice for people across the financial spectrum. Prenups have become more popular as many people choose to marry later in life. By the time many couples come together, they may already have children, including kids from previous relationships. They may have homes, own businesses or be well on the road to a lucrative career.

When students decide to marry, the particular concerns that may motivate others to opt for a prenuptial agreement may be further in the future. However, this fact may actually make prenups a better choice. Because both partners are just starting out in life, their decisions about what to include in a prenup will be based on their ideas about the most equitable way to divide possessions in case of a divorce, rather than protecting existing wealth. Prenups are essentially contracts to address property division in advance, and students may be well-placed to think about their ideal solution to this issue.

Prenuptial agreements aren't just for the rich and famous

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Tuesday, January 15, 2019.

From Tennessee to Silicon Valley and beyond, divorce can be a difficult, messy process, especially when high-value assets are involved. Because marriage is considered a legally binding contract, the dissolution of the marriage often means that the contract becomes null, but the assets accumulated during the period of the contract are to be split as they were acquired during the contract period. To remedy this potential problem, some couples turn to prenuptial agreements before tying the knot.

The proof of the impact that prenuptial agreements can have is evidenced by the case of Amazon CEO Jeff Bezos. According to a report by CNBC, Bezos and his wife decided to split after 25 years of marriage, but no known prenuptial agreement was signed upon entering into marriage. This could mean that Jeff Bezos' financial assets are to be split evenly as the couple go their separate ways, possibly leading to the forfeiture of many billions of dollars for years to come.

Senior marriages and prenups

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Thursday, January 10, 2019.

When older couples get married in Tennessee, they often have financial concerns that younger couples don't. As a result, seniors who enter a "gray marriage" may consider taking legal steps that can protect their financial interests and solidify their estate plans.

Late-in-life marriage presents two significant challenges. The first is protecting the assets of both spouses in case the marriage ends in divorce. Since neither spouse will have the time to rebuild financially, ensuring that both parties are protected is a sound financial move. The second consideration is making sure that children and grandchildren from a previous marriage are provided for in an estate plan.

Protect your business when you go through a divorce

On behalf of Law Office of Lisa Collins Werner on Monday, January 7, 2019.

When you think that a divorce is imminent, you should start taking steps to protect your business. You might think that it is unnecessary to do so, but the reality is that your business could be in danger, even if the other person doesn't do anything with it.

In Tennessee, the law states that property from a marriage is divided equitably. However, what is fair and equitable is open to interpretation. The best thing you can do is work to document what property was yours prior to marriage and also determine which parts of your property should be divisible. If you don't have a pre- or postnuptial agreement, you'll want to talk to your attorney about your business and how to best protect it.

What to know before signing a prenuptial agreement

On behalf of Law Office of Lisa Collins Werner posted in prenuptial agreements on Thursday, January 3, 2019.

Prenuptial agreements may be an effective tool for Tennessee couples who are looking to define the terms of their relationships. However, changes to the tax treatment of alimony may alter the discussion as it relates to what should be included in a specific agreement. Of course, alimony should be just one part of the financial talks that take place prior to negotiating and signing such a pact.

When created properly, they can help a couple avoid a drawn-out divorce in the event that the marriage comes to an end. It can also be used to override or modify state laws regarding property ownership during a marriage. If an estate waiver is used, it could impact the rights of an heir in the event that a person dies while married.

How fathers can obtain rights to their children

On behalf of Law Office of Lisa Collins Werner posted in Child Custody on Thursday, December 27, 2018.

Fathers in Tennessee may be allowed to see their children even if they are not awarded custody. Visitation schedules may be arranged by a judge or determined by the parents outside of court. When parents create their own schedule, it is called reasonable visitation rights. This generally occurs when the parents are able to work together in an amicable manner. If parents are unable to work together, a judge will create a fixed schedule.

It will determine when visitation will take place and how long a father may spend with a child. In some cases, the judge will also determine where the child and parent will spend their time together. Typically, fathers who are granted visitation rights will see their children over the weekend or during school breaks. The process of obtaining visitation depends on whether the father was married to the child's mother when the child was born.