Prenuptial or Antenuptial agreements are enforceable many states. Certain states, including Tennessee, require these agreements to be drafted in compliance with their statutes.
Generally, for a prenuptial agreement to be enforceable, the spouses must enter into the agreement in good faith and without duress or coercion from the other spouse. Additionally, the parties must disclose the true nature and extent of their assets to each other prior to signing the agreement. Certain issues may not be dealt with in a prenuptial agreement such as child custody and child support as courts always have the right to protect the interest of minor children. A properly drafted and executed prenuptial agreement is a binding contract between the parties and will be binding upon the parties in the event of a divorce. As this is a binding document on the parties, it is advisable to contact an attorney who is familiar with the law in this area prior to drafting or agreeing to sign any prenuptial agreement.
In Tennessee, parties have the right to enter into agreements before marriage that will dictate the terms of a property settlement during a subsequent divorce. These agreements can address many issues including but not limited to property ownership, property division, and alimony.
Generally, parties may enter into agreements after they are married that deal with the same issues as a prenuptial agreement. These agreements are called postnuptial agreements and if drafted and executed properly, they can provide the same peace of mind to the parties as it relates to the distribution of assets in the event of a divorce.
If you have questions or would like to learn more, please call Berry Cannon Crawford Macaw, PLLC for more information.