Before entering into a marriage, the partners to a Tennessee couple may decide to protect their financial futures by entering into a prenuptial agreement. A prenuptial agreement, sometimes referred to as a prenup, is a contract that two people make in anticipation of marriage that outlines their financial rights and responsibilities to each other during their marriage and how their assets and debts will be handled in the event of divorce. While most prenups survive scrutiny and serve their purposes for couples that divorce, others are considered invalid for a variety of reasons.
One reason that a prenup may be found invalid is if it fails to satisfy the procedural requirements for such a document. For example, if the parties fail to sign a prenuptial agreement or memorialize the terms of the agreement in writing, then the document may not be considered binding on them. Additionally, if the prenup lacks required information, such as one's assets or income, then it may be thrown out as invalid.
Additionally, a prenuptial agreement may not survive review if it is found that one party took advantage of the other. If one party subjected the other to duress during the execution of the prenup or if one party failed to disclose assets during the negotiations of the prenup then the document may be set aside.
Prenuptial agreements serve an incredibly useful purpose for men and women who want to have some control over their property and assets as they contemplate marriage. Though practically everyone goes into a marriage expecting it to last forever, divorce tears apart a number of marriages each year. Having a valid prenup in place is a good way to have security and understanding when entering into a marital union.