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Prenuptial agreements: Not only for the super rich

On Behalf of | Dec 11, 2015 | Property Division

If you and your marriage partner feel comfortable with the idea, a prenuptial agreement is a great idea for every marriage, no matter how wealthy the individuals happen to be. The fact is, prenuptial agreements just make sense and if two people joined in matrimony truly love one another, they will want to ensure that if a divorce becomes necessary, it will be handled easily, quickly and peacefully. This is exactly what a prenuptial agreement can achieve.

Planning a marriage and one’s future together is exciting. Some couples will plan everything down to the minutest of details relating to their wedding day, where they will live, where they will go on vacations and even the names of their children. However, this is no reason to ignore the reality that many marriages don’t last forever. A prenup acknowledges this fact with mutual respect for the wants and needs of both parties involved.

Prenups used to be something that only the super rich created to protect their assets from a spouse who might try to take them during a divorce. However, in a study by the American Academy of Matrimonial Lawyers, 60 percent of divorce attorneys agreed that more and more people are signing prenuptials these days before they say “I do.”

How can a prenup benefit you if you’re not a part of the super rich elite? Well, if you’re the opposite of rich and have a lot of debt, a prenuptial can protect your spouse from assuming that debt — which might be a prohibitive factor in the way of getting married. In this sense, a prenup could actually help you get married. More importantly, it will also set up a framework for how your divorce will be handled, which will make the entire process easier and less stressful, if — and this is a very big IF — it ever becomes necessary.

If you are headed into marriage and considering a prenuptial agreement, a qualified Tennessee family law attorney will be able to assist you. Your attorney will review you and your future spouse’s financial and life situations, as well as your personal wants and needs, to draft a prenuptial agreement that directly addresses your situation.

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