Prenuptial agreements are legal contracts created and signed before a marriage that can supply you and your spouse with certain long-term benefits. These benefits are designed to protect you or your spouse in the event of an unforeseen divorce or death. For many people, prenuptial agreements provide them with reassurance in case their marriage ends unexpectedly. To find out more, try talking to a Tennessee family law lawyer.
What Are Prenuptial Agreements?
A is a legal contract created and signed with your spouse before you become married. These agreements come with all kinds of options for what will happen if the marriage leads to a divorce or a partner unexpectedly passes away. When marriages end in either of these ways, figuring out how to divide up assets and make arrangements can be difficult.
As many people already know, legal battles involving divorce can be emotionally draining and tedious. Divorces typically involve worrying about child custody decisions, child support, alimony, and division of property. What a
prenuptial agreement does is decide all of these factors ahead of time. This lets you avoid dealing with a lengthy divorce trial if the marriage ends that way.
Divorce trials can be expensive with all the legal fees involved, overwhelming with all the preparation, and painful when it comes to child custody issues. If you have concerns about committing to a prenuptial agreement, the good news is that these agreements are not set in stone and can be modified.
When it comes to the death of a spouse, prenuptial agreements can help with financial decisions between the other spouse and any children involved. For any kind of prenuptial agreement, you, your spouse, and two witnesses must sign the agreement. These signatures ensure the deal is a solid defense in court.
Benefits of Prenuptial Agreements
There are a variety of for you and your spouse. These benefits can help you with divorce, remarriage, and spousal death. A prenuptial agreement can prevent your spouse from changing or overturning your estate plan after you pass away.
When it comes to remarriage, a prenuptial agreement can ensure your assets are divided up with your first and second families. Alimony can be limited in cases where you earn more income than your partner and want to avoid having this be taken advantage of. For partners with heavy debt, the prenuptial agreement can prevent you from being held responsible for part of this debt.
If you make less income than your partner, this type of agreement can protect you from paying too much in child support or , but can also help you earn the alimony you would need to financially recover.