Watch this Episode of BoomerTime with Nancy Cogar
Pre-nuptial agreements, which are contracts made before marriage, are not as rare as you might think. On this episode of BoomerTime, we will discuss why people are considering prenups and what you need to think about before you say, “I do.”
Today, we are discussing how modern marriage has changed and why pre-nuptial and post-nuptial agreements are no longer just for the rich and famous. Divorce is on the rise, even in the Bible Belt. Believe it or not, Tennessee is in the top 10 states in the country for the number of divorces, as are Georgia, Alabama, and Kentucky. Arkansas has the highest number of divorces.
A prenuptial agreement is a legally binding contract that a couple voluntarily enters into before marriage. This agreement sets terms and conditions for certain less romantic, but necessary, aspects of a marriage. These agreements cover asset protection for both your property and your partner’s property, as well as the marital property. They also address debt allocation and liability. Full disclosure is essential, so both parties must disclose what they own before entering into the agreement.
Younger people are entering into these agreements before marriage, and so are some Boomers. These Boomers are slightly older and may have been married before. Since fifty percent of marriages end in divorce, it might be wise to consider what would happen “if” the marriage ends.
Downloadable Resource for You
This downloadable resource that you can use to assist your pre and post nuptial agreement needs.
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Disclaimer: The information provided on this website and on the podcast is not intended to be considered as legal advice or constitute an attorney/client relationship as provided under the Tennessee Rules of Professional Conduct.
