Both prenuptial and post-nuptial agreements are designed to protect the financial matters of each spouse. They can be drawn up either before the couple marries or after they marry. Essentially, they are contracts that clearly define what will happen with each spouses’ property, assets, or debt when the other spouse dies or when a divorce occurs. Though they are helpful in the case of one spouse dying, they are mostly used to divide property after a divorce.
When considering a prenuptial agreement, make sure you have a New York City Prenuptial Agreement Attorney skilled at understanding the fine print. The accuracy of a prenuptial agreement can be vital in the unfortunate event of a divorce. A mistake in the original agreement can make an easy dissolution much more difficult.
These are the Most Important Planning Tools for People who are Getting Married
These planning tools have nothing to do with menus, flower arrangements or wedding venues, but they have everything to do with protecting your future. While you may think prenuptial and postnuptial agreements are only for the wealthy, they are for anybody who wants added assurance that in the event of the end of a marriage, terms regarding assets, debts and property are spelled out. In fact, these agreements date back thousands of years and were used by ancient Egyptians and by Hebrews, for whom this “marriage contract” is called a Ketubah.
Through our vast experience in drafting and reviewing “prenups” and postnuptials, we feel everybody should consider an agreement prior to marriage, especially if you:
Have children from a prior marriage
Own a business
Have heirlooms, investments or property that you owned before the marriage
Want the comfort of having an understanding about household bills and other payments will be handled
Want it to be part of your estate plan
Who Should Get a Prenuptial Agreement?
Prenuptial agreements aren’t just for the wealthy. Anyone who is getting or has been married should consider working out a prenuptial agreement. Even if it is just instructions on how your home or savings should be divided up, a clearly defined prenuptial agreement can save time, money, and court dates in the future. When a couple divorces, property is declared as either separate or marital.
Separate property is anything acquired before the marriage or given solely to one spouse after marriage. Marital property is anything acquired after the marriage. Though it seems that property and assets should fall clearly into one of these black and white categories, that is not always the case. Sometimes property acquired after the marriage should be regarded as separate, but because it is considered marital, it will be subject to equitable division when a couple divorces. Prenuptial agreements clarify the line of what is separate and what is not to rule out possible disputes.
When considering a prenuptial agreement, many couples may have trouble bringing up the subject with a spouse. After all, marriage is supposed to be forever, right? A prenuptial agreement essentially says, “I want to be with you forever, but just in case…” Obviously, this may be a sensitive matter for some couples to discuss, but it doesn’t have to be.
Prenuptial agreements can be a great conversation that opens up couples’ opinions about what they want from their marriage. It can also help couples better understand their finances and assets, such as retirement accounts and businesses or partnerships.
A New York City prenuptial agreement attorney can help couples create a prenuptial agreement fair to both spouses. They can also help couples avoid loopholes and unclear language when drawing up a prenuptial agreement and handle any changes that need to be made in the future if new property is acquired. The end goal of a prenuptial agreement is to smooth out the property division process in the event of a death or divorce without leaving your valuables in the hands of the court.
New York City Attorney Experienced with Prenuptial Agreements
If you are looking to create a prenuptial or post nuptial agreement between you and your spouse, contact the law office of Vivien I. Stark, P.C. today. She is a New York family lawyer with over 30 years of experience across all aspects of family law. She serves the five boroughs of New York City and the surrounding communities. Deeply committed to her clients, she has been recognized by Avvo as a top contributor and top divorce lawyer in New York City with superb ratings.
She is also an accredited member of the Better Business Bureau. Vivian I. Stark works to keep her client’s best interest in mind at all times. She will help you and your spouse clearly understand the value of your property and assets and outline a fair agreement.
To discuss your needs, please contact us online or call us at (212) 349-1600 to schedule an in office or telephone consultation.
The Law Office of Vivien I. Stark, P.C. can assist you with the following areas of prenuptial and post nuptial agreements: