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Prenuptial agreements can be a great way for you and your spouse to resolve various possible marital issues before they potentially damage your relationship with one another. However, being married can change your life in big and small ways, and sometimes those changes are significant enough to make an existing marital contract no longer applicable, or even worse, actively harmful to your best interests.
If you have questions about altering the terms of a contract you made with your spouse before getting married, a Hamilton County prenuptial agreement modification lawyer could answer them and help you understand your options. Then, if you elect to go through with a modification, your dedicated prenuptial agreement attorney could walk you through the process and make sure your updated agreement protects your rights and interests while still remaining legally valid.
Unlike with spousal support, child support, and child custody orders passed down by a court, there are no strict legal prerequisites that couples in Tennessee must meet in order to be allowed to modify a prenuptial agreement. Any substantial change in circumstances that makes a prenuptial agreement insufficient in part or whole could be the basis for a modification, as a Hamilton County attorney could further explain.
One of the most common reasons for seeking this type of modification is having children, in order to account for the various financial and personal concerns that come with adding a new member to your family. Likewise, buying a house or obtaining a substantial amount of any other kind of property may be cause to modify an existing prenuptial agreement to include those new assets in a plan for property division that would kick in during a divorce.
Alternatively, a couple may want to start over from scratch with a completely new postnuptial agreement, or just move on with their lives without any such contract. In this kind of situation, it is possible to revoke a prenuptial contract completely provided that the appropriate legal procedures are followed.
Much like with the original agreement, any modification to a prenuptial agreement in Hamilton County must be in writing and signed by both involved parties in order to be legally valid. Additionally, it must not be unfair to either party, and both parties must have agreed to the change freely without any coercion or duress.
It is also critical for both spouses to go through the same disclosure of financial assets, interests, and liabilities during the modification process that they want through when drafting the original contract. A prenuptial agreement modification lawyer in Hamilton County could go into the specific procedures involved and offer guidance with writing a comprehensive addendum—or an entirely new contract—as needed.
Modifying a prenuptial agreement is not quite as legally rigorous a process as modifying other types of orders related to marriage or divorce, but it can still be complicated in ways that may end up seriously sidetracking anyone not prepared for them. Having support from seasoned legal counsel can be vital not just to completing this process efficiently, but also to ensuring your rights are preserved along the way.
A conversation with a Hamilton County prenuptial agreement modification lawyer could give you the clarity you need to determine what steps you and your partner should take. Call today for a consultation.