Divorce could happen to any married couple. While it may seem comforting to think that a relationship will last forever, that mindset may not always be realistic. Because of the potential for relationships not working out, Tennessee residents may want to prepare for property division proceedings before they take place.
One way that individuals in Tennessee can prepare for this area of divorce is by creating a prenuptial agreement. This type of contract has become more popular over the last 20 years, and individuals in the millennial generation have shown a particular interest in getting this agreement in place before getting married. Some speculation indicates that, since millennials are getting married at older ages, they may have more assets they want to protect from the possibility of divorce.
A survey conducted by the American Academy of Matrimonial Lawyers indicated that 63 percent of lawyers who participated in the survey saw an increase in prenuptial agreement interest in the past three years. Additionally, over half of those surveyed also indicated that more millennials were looking into having these contracts made. Financial obligations have reportedly played an important role in many decisions made by those in the millennial generation, so it makes sense that they would want financial and asset protection where possible.
It is understandable and wise to want to protect one’s interests whenever possible. Even if a prenuptial agreement is never used, it can still be smart to have this contract in place. If Tennessee residents of any age looking to get married are interested in this option, they may wish to consult with knowledgeable attorneys to understand state property division laws and other important information.