Most couples enter into a legal partnership believing that it will last forever. While many relationships do last the distance, the reality is that a lot of marriages end in divorce.
There are a number of factors that could lead to the breakdown of a marriage, with arguments over finances being at the top of the list. Prenuptial agreements are one legal instrument that can be utilized to provide financial security to both spouses. Although such agreements are frequently viewed in a negative light, they can actually help to lay the foundations of a successful marriage. Outlined below are some key reasons why you should consider a prenuptial agreement.
Securing your assets
A prenuptial agreement allows both you and your partner to clearly define property and assets before the commencement of the marriage. The result of this is that you have security and peace of mind in terms of how the property would be divided in the case of divorce. Property division forms a key part of the divorce process, and matters can be highly contested when left in the hands of the courts.
Keeping your business separate
You may have worked extremely hard to establish a successful business before meeting your partner. Whilst you might wish to share the benefits of this with your loved ones, this doesn’t necessarily mean you want to give up a share of the company. A prenuptial agreement allows you to retain full control of your business, meaning that your business interests are not jeopardized during divorce proceedings.
Prenuptial agreements promote open and honest financial discussions between partners, which is actually fundamental to a successful marriage. In the event that your marriage has broken down, you should make yourself aware of your legal rights as a spouse in Tenessee.