Franklin & Nashville Marital Agreement Lawyers

Common Issues Addressed in Marital Agreements 

Every couple is different, and the agreement should reflect that uniqueness. These are some of the issues most commonly addressed…

Property and Debt

One of the primary purposes of marital agreements is to determine how property and debts will be divided in the event of divorce or separation. This includes specifying how assets such as real estate, savings, and retirement accounts, will be divided. 

Couples can also address the allocation of debts, such as mortgages, credit card balances, or personal loans. By outlining these terms in advance, couples may be able to  reduce the financial and emotional strain during a divorce or separation.

Defining Separate Property

Tennessee law distinguishes between separate property (assets owned before the marriage or acquired individually through gifts or inheritance) and marital property. A marital agreement allows couples to codify these distinctions, thereby protecting their individual assets. This step is particularly beneficial for people with substantial personal assets or family heirlooms, as it aims to prevent potential disputes over ownership.

Spousal Support (Alimony)

Marital agreements often address spousal support, laying out terms for whether alimony will be paid, to whom, and under what conditions. For example, the agreement can specify a fixed amount or limit the duration of payments. 

Financial Responsibilities During the Marriage

Spouses may decide how to share household expenses, such as mortgage payments, utilities, or childcare costs. Marital agreements can also include terms for managing large purchases, such as vehicles or significant home improvements, by specifying when mutual consent is required. Clear financial guidelines may help foster transparency and reduce disagreements about money during the marriage.

Inheritance Rights

Marital agreements are especially useful for those with children from prior relationships who want their inheritance plans respected. The agreement can detail how assets will be distributed upon death, balancing the needs of the surviving spouse with the rights of children from other relationships. This helps minimize the likelihood of posthumous legal disputes.

Business Interests and Investments

Entrepreneurs and professionals with significant business interests often rely on marital agreements to protect their ventures. These contracts can specify how ownership stakes, business income, or other investments will be treated. By addressing these issues upfront, business owners can safeguard their ventures, facilitating continuity and clarity in the event of a separation.

Legal Fees

Marital agreements can also tackle how legal fees and costs will be managed if disputes arise regarding the enforcement or validity of a prenuptial or postnuptial agreement. For example, couples may agree to share legal costs equally or specify that one party will cover them. This provision provides a clear framework for handling legal expenses, reducing financial uncertainty during potential disagreements.

Modification and Termination

Circumstances in life can change, and marital agreements can include terms for how they may be modified or terminated. Couples might agree on specific triggers, such as the birth of a child or significant changes in income, that could warrant modifications. By defining these terms, marital agreements allow the document to remain flexible and relevant while continuing to maintain clarity and enforceability.Common Issues Addressed in Marital Agreements 

Every couple is different, and the agreement should reflect that uniqueness. These are some of the issues most commonly addressed…