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Reasons why prenuptial agreements are becoming popular

On Behalf of | Mar 17, 2020 | divorce

Prenuptial agreements can be ideal for Tennessee couples who are planning on getting married in Tennessee. This is because they allow a couple to negotiate some of the terms of a potential divorce before their wedding day. Depending on how the agreement is structured, an individual may be allowed to retain ownership of a business or keep the majority of the funds in a retirement account. Individuals are more likely to bring significant assets into a marriage in part because they are getting married later in life.

Prenuptial agreements are also becoming more popular because women have obtained greater levels of financial independence over the past several decades. Therefore, they may want to make sure that they retain ownership of their homes and savings accounts in the event of a divorce. While they were once seen as a tool for the rich and powerful, prenuptial agreements can be effective for those who aren’t wealthy when they get married.

In some cases, it can be used as a way to retain ownership of a business or other intellectual property that may be created in the future. Finally, such agreements have become popular because younger people may have seen their parents get divorced. Therefore, they want to make sure that they are not caught unprepared if the same happens to them.

A person who is asked to sign a prenuptial agreement may want to have it reviewed by a family law attorney before it goes into effect. An attorney may also review it prior to a divorce proceeding to determine its validity. Prenuptial agreements may be considered invalid if the terms are unreasonable or if one party was forced to sign it under duress.