Not every union in Tennessee reaches its happily ever after. Some marriages will end in divorce, but before then, you might both work on fixing what is wrong with your marriage. However, a postnuptial agreement might help you prepare for your divorce if that does not work out.
What is a postnuptial agreement?
A postnuptial agreement is similar to a prenup but signed after the marriage. It outlines the rules of how you want your assets divided in case of divorce or the death of one of the spouses. While it does not contain information on child custody and support, it can address alimony. If the couple does divorce, for example, it helps provide them with a plan for dealing with one of the most complicated parts of the dissolution of the marriage. It must be a fair agreement without financial encouragement for one spouse to choose divorce over the continuation of the marriage.
Why should couples consider a postnup?
There are many reasons why couples should consider a postnup. Even couples at a good place in their marriage might benefit from drafting and signing one. Some of the reasons include:
- The beginning of a new business venture that one spouse wants to ensure will remain theirs in case of a divorce
- The rules for reconciliation in the marriage after a conflict, such as an affair
- A needed change to an existing prenuptial agreement, such as when circumstances have changed significantly
A postnuptial agreement can serve to create a clearer way to handle your assets if your marriage does not work out or if one of the spouses dies and there is a question about who will receive some of their assets. It might be of help with both marriage, as it clears up any doubts about what you both want for your financial future and divorce.