Understanding marital contracts in Tennessee

Couples living in Clarksville, Tennessee can find unique benefits to prenuptial and postnuptial agreements that include estate planning and more.

Like their counterparts around the country, many couples that live in Clarksville, Tennessee may still believe that prenuptial agreements are only useful to those people with very great wealth. That may have been true a generation ago but today's society makes marital contracts useful by virtually any couple. This includes postnuptial agreements as well as prenuptial agreements. While identifying what is marital property versus what is separate property can still be done in a prenup, there are other uses for these contracts as well.

Benefits of postnuptial agreements

The Daily Beast highlights the importance of a postmarital contract for couples that choose to have one partner quit working to stay home and take care of children. Even couples who originally intended for both parties to work outside the home once children were born can change their mind and wish to have a parent at home. When this happens, the person who is to leave the workforce faces an uncertain future in terms of work and earning capability. A postnuptial agreement can guarantee that spouse an income for some time should a divorce take place. This can often help make the decision to stay at home more palatable.

Estate planning with prenuptial agreements

Prenuptial agreements give people with children from previous marriages or relationships a valuable way of protecting the inheritance rights of those children. When entering into a new marriage under these circumstances, each partner may understandably want to ensure that certain belongings or assets will go to their own children upon their death.

The New York Daily News discussed how a prenuptial agreement can stipulate what will happen to life insurance benefits, special family heirlooms and other assets after the death of one or both spouses, helping to avoid unpleasant situations down the road. It can also help to bring families together without reservation to get the new marriage off to a strong start.

Prenuptial agreement protections in the event of divorce

In addition to outlining provisions for specific assets, a prenuptial agreement can state what each partner is and is not able to post on social media platforms about the other person. The goal with these social media clauses, as noted by Fox News, is to prevent any online slander and reputation damage of one person by the other.

Be reasonable

The Huffington Post points out the importance of making all provisions reasonable as one way to ensure the enforceability if needed. Couples in Tennessee are encouraged to work with an attorney when drafting any marital contract to ensure this happens.

Keywords: divorce, prenuptial, agreement, contract