A premarital agreement, also commonly referred to as a prenuptial or antenuptial agreement, is a legally binding contract, entered into by parties before their marriage, that defines what will happen if the marriage ends. A postnuptial agreement is an agreement that parties enter into after they are married when they wish to provide for a specific division of assets or the fulfillment of certain obligations in the event of the dissolution of the marriage. Both types of marital agreements allow parties to sort through financial issues so that each has a clear understanding and expectation concerning their financial rights and obligations.
A properly drafted premarital or postmarital agreement can be used to protect financial interests if one spouse has substantial wealth or disproportionate wealth relative to the other spouse. It can also be used to protect the interests of the spouse who is contemplating marriage or who has already entered into marriage with someone who has a disproportionately greater amount of wealth.
A premarital agreement or postmarital agreement can be invaluable in protecting family-owned interests or future inheritances as well as any other interest in a business or professional practice. A marital agreement can also be used to limit liability for debt obligations that a spouse brings to or incurs during the marriage and can set or limit spousal support (alimony).
Parties contemplating premarital or postmarital agreements need a Tennessee divorce lawyer who understands the delicate balance in preserving the parties’ personal relationship before or after the marriage while negotiating for the financial results the parties seek to achieve. Our attorneys can help you negotiate this delicate balance with a combination of sensitivity and skill.