When drafting a pre-marital agreement, it is crucial to understand the legal implications of signing these types of documents. You and your soon-to-be spouse should both have legal counsel to ensure your rights and interests are being protected.
If you are considering a prenup, learn about the role of a Chattanooga pre-marital agreements lawyer. Our dedicated attorneys at Yates & Wheland can explain what services we can provide and how we can help you in your case.
When drafting a pre-marital agreement, the lawyer needs to understand the couple’s whole financial picture. This includes both parties’ ability to earn and any existing property owned at the time of the marriage. The agreement will set the rules for distribution in the event of a divorce, so the most important role of the lawyer in this regard is to gather information about the parties’ financial situation.
An attorney must understand each party’s ability to earn when determining spousal support terms in a prenup. In most cases involving alimony determinations, one person is financially dependent on a high-earning partner. The lawyer for the dependent party must gain a full understanding of the other party’s ability to earn money, and how that may increase or decrease over time.
This is a crucial aspect of drafting an agreement that holds up in the future, as the parties’ financial circumstances may change from when they sign the prenup to when they divorce. The job of a Chattanooga pre-marital agreements lawyer is to help the parties make an agreement that makes sense for the long term.
If a party does not fully disclose the nature of their assets, then the agreement has the potential to be unenforceable. As such, it is crucial to have attorneys on both sides of the case. Hopefully, each lawyer will explain to the importance of full financial disclosure to their client and can help them gather the necessary documents and information. It is the attorney’s job to inform the client about the consequences of hiding assets when creating a prenuptial agreement.
One of the most common scenarios for pre-marital agreements is when there is a large wage disparity between partners. Alimony often comes into question in divorce cases where one spouse earned significantly more than the other.
A well-practiced local attorney could advise a client on the standard deviation for hearings in these types of cases and help draft a prenuptial agreement that lands within that range. A lawyer with knowledge about the courts and how judges rule on those issues can be an essential resource in drafting an appropriate prenuptial agreement.
The role of a Chattanooga pre-marital agreements lawyer is to act as a guide and advocate for you and your best interests. At Yates & Wheland, our attorneys are prepared to discuss your situation, finances, and wishes for the future. Our legal team asks the right questions to create a document that fits your needs. Give us a call today to set up a consultation and learn more about your options for protecting your financial future.