Knoxville Prenuptial Agreement Attorney
Practical, Valid and Enforceable Prenuptial Agreements
No one gets married planning to divorce. Everyone marries with the best of intentions, but a great many marriages do end in divorce, or even the sudden and unexpected death of a spouse. Talking with your partner about these facts and how you each would want certain aspects handled in the event of divorce can help strengthen your bonds as you enter into marriage and prevent costly, drawn-out and hostile legal battles in the event things don’t turn out as you planned. Below are some important things to know about prenuptial agreements in Tennessee, including what they are used for and what makes them valid. If you are planning to get married, Knoxville prenuptial agreement attorney Patrick L. Looper can help you negotiate, draft and review a prenuptial agreement that will meet your needs and be valid and enforceable under Tennessee law.
Why do people create prenuptial agreements?
Prenuptial agreements are most popular between couples who are going into marriage with a lot of assets or a large financial inequality between the two. The wealthier spouse may want to protect those assets and not lose half of them in a divorce, but the less wealthy spouse will also want to know that he or she will be treated fairly if a divorce does occur. Couples entering marriage where either one or both have been married before also often seek prenuptial agreements. They may have children from a previous marriage and they want to protect their inheritance, or they may simply want to avoid the strain of a difficult divorce if their previous experience was especially negative. Actually, any couple can benefit from putting a prenuptial agreement in place and avoiding contentious divorce disputes or arguments over who gets what in a divorce.
What do prenuptial agreements do?
A prenuptial agreement can be used to decide in advance what happens if the couple divorces or separates, if one spouse dies, or any other event they wish to address. The prenuptial agreement can state what happens to each spouse’s separate property and how marital property will be divided. The prenup can also state whether alimony will be paid, how much and for how long, depending on the length of the marriage, marital misconduct or other factors the parties want to include. A prenuptial agreement can also require one or both parties to make a will and dictate certain terms of the will, require the purchase of a life insurance policy, provide protection for one spouse from the other spouse’s debts, and more. A Tennessee prenuptial agreement cannot, however, dictate the terms of child custody or child support. Such provisions would not be enforced if they were challenged in court.
What makes a prenuptial agreement valid or invalid in Tennessee?
A prenuptial agreement is a contract made by two people who are contemplating marriage, and it becomes effective as soon as the marriage is performed. A prenuptial agreement should be in writing and signed by both parties. Each party should make a full disclosure of their financial assets and liabilities before signing the prenup. A prenuptial agreement may be challenged in court if that disclosure was not made, unless it’s clear that one party waived the other party’s obligation to disclose their finances. A prenuptial agreement may also be challenged on the basis that one party deceived the other regarding the agreement (fraud) or used pressure or threats (coercion or duress) to get the other party to sign.
Sometimes one party will be responsible for drafting the agreement and then give it to the other party to sign. It’s important in this situation to have the agreement reviewed by an experienced Tennessee family law attorney before you sign it. Each party should have their own attorney in this process; this is best for you and for the validity of the agreement, should it later be challenged.
Help is Here from a Skilled and Knowledgeable Knoxville Prenuptial Agreements Attorney
Patrick L. Looper is an experienced Knoxville family law attorney who can negotiate, draft or review a prenuptial agreement on your behalf, making sure you are protected and your needs are met. To discuss a prenuptial agreement in your upcoming marriage, call Patrick L. Looper, Attorney at Law, at 865-229-3164 for a free consultation.