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Why a Prenuptial Agreement Makes Sense

Tennessee couples who are planning to get married should learn the many ways that a prenuptial agreement can help them.

When considering plans for a wedding and future together, a prenuptial agreement may not be the first thing that comes to the minds of Tennessee residents. However, it really should be something considered along the way. Prenups today give individuals and couples great power and make a lot of smart sense.

Marital contracts have a reputation of being needed only by very wealthy people with the sole intent to protect against the loss of precious assets in the event of a future divorce. While certainly today’s prenups can and do offer asset protection in this way, they can do so much more as well.

Protecting reputations matters

Social media is a standard part of many people’s lives today. In most situations, it is a source of fun, entertainment and a way to stay connected to others. However, the power to reach a large audience in virtually milliseconds-especially when considering how easily information can be shared, retweeted and more-highlights a potential risk for some.

When a couple is in the midst of a divorce, very rarely are the two people likely to make pleasant posts about each other. In the best case scenario, they would simply refrain from posting about the other person altogether. Yet the temptation to make negative comments online about the other person is real. Fox News notes that social media prenups can help prevent this from happening.

These agreements include carefully crafted parameters about what is and is not acceptable on social media. ABC News adds that violations of such terms can result in some serious financial penalties. One inappropriate post can cost up to $50,000 in some cases.

Protecting assets after death

Another new reason to get a prenuptial agreement has nothing to do with the couple getting divorced. Provisions surrounding post-death wishes can be built into prenups and be valuable aids to other estate planning tools and documents. Any couple can benefit from this, but people getting married after prior divorces, especially when children are involved, may find this particularly helpful.

USA Today notes that prenups can even be used by couples to legally document an agreement on how to care for aging parents or other relatives before or after the death of one spouse.

How should a prenup be developed?

Today explains that prenups can be declared invalid if they are not appropriately drafted. Some problems can include signed agreement dates very close to the wedding dates. Another problem is lack of proper representation. Each party must have separate lawyers in order to ensure it is fair for both parties.

Tennessee couples should discuss their desire to have a prenup with a lawyer and ask questions about how to make a contract best suited to their needs.