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prenuptial agreements Archives

What goes into a prenup

Tennessee couples who are planning to get married may consider completing a prenuptial agreement before doing so. However, it is important that they are aware of what can be included in the legal documents. State law governs how separate property and marital property are distinguished from one another. When a marriage ends by divorce, a court will use the principle of equitable distribution when dividing up marital assets. A valid prenuptial agreement could contain a provision that would override that.

The benefits of a prenuptial agreement

A prenuptial agreement may provide many benefits for Tennessee residents who are planning on getting married. For instance, it may be possible to determine how assets will be divided during a divorce before a couple says their wedding vows. It may also help to make sure that a person doesn't take on the debts of his or her spouse. It can even be used to decide how property will be handled if one person dies.

Why people may consider a prenuptial agreement

In the past, Tennessee residents and others may not have made much use of the prenuptial agreement. However, it has become more popular among Millennials, and women are asking for them in larger numbers in recent years. One of the reasons why these documents are more popular today is that people tend to have assets prior to getting married. Therefore, individuals prefer to have a way to protect those assets if the marriage doesn't work out.

Prenuptial agreements have both pros and cons

While prenuptial agreements may not seem romantic, they can save Tennessee couples a lot of grief after they get married. Having one does not mean a couple is planning to divorce later on. Rather, with financial woes causing many a couple to divorce, it may save a marriage since couples will be disclosing their financial pictures before the vows. Couples should discuss a prenup early on in their engagement and not wait until the last minute to talk about it.

Why some married couples get postnuptial agreements

While some Tennessee couples who are planning to get married may take the time to draft a prenuptial agreement, not all couples do this before tying the knot. If the marriage later becomes troubled, however, the married couple may have the option to draft up a postnuptial agreement.

Why a prenuptial agreement may be ideal

Prenuptial agreements can be a practical and responsible way for Tennessee residents to control their financial futures. They may dictate what happens to assets in the event of a divorce, death or accident. It is important to understand that these agreements are not meant to keep one person down in the event of a divorce or some other unforeseen event. Ideally, they help each party protect whatever they bring into the marriage.

The benefits of prenuptial agreements in Tennessee

Studies have shown that February represents the busiest month of the year for divorce in many states. While divorce can have a significant effect on someone's life and finances, a prenuptial agreement could significantly limit any negative impact. Prenups can both reduce the risk of a surprising outcome from a divorce and protect a spouse's finances.

More millennials getting prenup agreements

Tennessee couples who are considering marriage may be interested to learn that a little more than half of family law attorneys who participated in a survey saw a boost in the number of prenuptial agreements that were being requested by 18- to 34-year-olds. These numbers are consistent with a 20-year trend where more couples were requesting prenuptial agreements.

Putting prenuptial agreements into proper perspective

The prenuptial agreement has gotten a pretty bum rap over the years. For those who believe that love is all that matters, the concept of asking a future spouse to sign a contract that defines who will get what in the event of a divorce is sacrilegious – a signal that the couple is somehow less than committed.

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