In recent years, many people in Tennessee have come to embrace the benefits of prenuptial agreements more than they did several decades ago. No longer are these marital contracts thought of as only needed by the rich and famous. Everyday couples now realize they can get valuable protections with these documents. For those couples that did not get a prenup before they got married, there is still the chance to be protected by creating a postnuptial agreement.
According to Today, one of the most common situations that may necessitate a postnup is the decision by one person to quit working to stay home and raise the family's children. This may be a mom or a dad and the challenges faced by either are the same. The years spent raising a family are often some of the most critical ones for building a career and increasing a person's earning power. When these years are lost, the former at-home parent cannot expect to go back into the workforce at the same responsibility or pay level that they previously held.
A postnup can help families make the choice to have one person stay home with the kids giving them the insurance they need to know they will be financially compensated should the marriage eventually fall apart versus penalized for making that choice.
Bloomberg adds that couples who are attempting to put a damaged marriage back together or keep it from dissolving altogether may find a postnup an aide in this effort. Spouses may create a posntuptial agreement identifying what would happen if they get divorced as a condition for continuing to work on the marriage versus divorcing right away.