Tennessee residents who get married for the first time earlier in life, such as during their 20s and 30s, may not be overly concerned about completing a prenuptial agreement. They may not have significant assets, so getting a divorce could be a very simple matter. However, for people who get married for a second time later in life, such as during their 50s or 60s, a prenuptial agreement is necessary.
In many cases, people who are getting married for the second time will have accumulated homes, significant assets, business ownership, retirement funds and children from a previous marriage or relationship. Getting remarried without a prenup in place might mean that there would be severe financial consequences if the marriage ends in a divorce.
There are many concerns people may have if they are getting married later in life. They may be concerned about being able to support a spouse during retirement and old age or bequeathing assets to children. Additional concerns may include addressing the needs of the spouse while assisting their own children at the same time and making sure that if the marriage fails, the divorce process will be as civil as possible.
A prenup for a second marriage can help couples address how their household will be supported during the course of the marriage. The couple can also include in the prenup a plan for when retirement assets will be used. Details regarding who will be paying for household expenses and to what degree can also be included in the agreement.
A family law attorney may advise individuals intending to marry for a second time about how prenuptial agreements can help protect their rights and interests in the event of a divorce. The attorney may work to negotiate on behalf of clients for favorable prenup terms.