When it comes to planning your prenuptial agreement, you will have a lot of flexibility with regard to how this legal document is worded. Since the way you draft this document will govern how your divorce will proceed — in the unlikely event that you even have a divorce — you will want to take care to ensure your prenuptial agreement is lawful, treats your fairly and preserves your legal rights.
Here are a few things you might want to consider incorporating into your prenuptial agreement:
A statement about separate and marital property
The most important part of your prenuptial agreement — if you have a considerable amount of personal assets — will relate to your separate and marital property.
Protection from premarital debts
Another important part of your prenup will involve protection from “debt mixing.” If you or your spouse have tremendous debts going into the marriage, your prenup will prevent both of you from assuming ownership of the other spouse’s premarital debts as a result of the marriage.
Preservation of your children’s inheritance
By virtue of your marriage, your spouse may have the right to receive a large portion of your personal wealth if you die. If you have children from a prior marriage, you can use a prenuptial agreement to ensure that your children receive the inheritance you intend them to receive.
These are just several things you should consider including in your Tennessee prenuptial agreement. If you want to explore the full scope of your legal rights concerning your prenup, schedule a meeting with a qualified family law or divorce attorney now.