People getting married almost always say is “death do us part” with the best intentions, but none of us can predict the future, and divorce is an unfortunate fact of life. Worse, the hurt and frustration of terminating the bonds of matrimony can cause people to misbehave during the dissolution of a marriage. Thankfully, the prenup laws in Tennessee has a remedy to create certainty in the frequently chaotic process, decided when everyone feels more level-headed.
Prenuptial Agreements are contracts couples create before they formally get married. At the most basic level, a Prenuptial Agreement specifies how the parties will handle the division of assets in the event of divorce. Of course, it doesn’t sound very romantic, so it’s worth understanding why some couples take this step.
Many people with a high income or net worth are at the beginning of a marriage worrying about protecting their wealth in the event of divorce. Meanwhile, business owners don’t want to risk their company’s ownership, particularly if the value of the business appreciates throughout the marriage. Some people also want a Prenuptial Agreement to protect themselves from liability for a spouse’s debt.
Prenuptial Agreements can also serve as an essential protection for lower-earning spouses. For example, a parent who intends to stay at home with the children will lose significant career experience and value if forced to later reenter the workforce due to divorce.
Prenuptial Agreements can give the stay-at-home spouse peace of mind that they’ll receive continued support in the event of divorce. Many parents also want to protect assets they have set aside for their children from previous relationships.
Notably, Prenuptial Agreements cannot outline future custody or child support payments. Prenuptial Agreements apply to property, not humans. A Court will consider the child’s best interests when deciding guardianship and financial support matters, not previously signed legal documents.
Furthermore, Prenuptial Agreements are not all created equal, and a skilled lawyer can convince a judge to disregard an unfair or poorly worded document. An enforceable agreement must meet certain specifications, including full disclosure of assets and liabilities and independent legal advice for both spouses. A family law attorney can help you with the prenup laws in Tennessee.
