Although previously considered with much controversy, prenuptial agreements (often referred to as “prenup” agreements) are becoming more commonplace in New York. They offer couples who are getting married the security of an agreement regarding such topics as child custody, spousal support and property distribution in the case of a divorce or the death of one spouse.
A New York divorce attorney can help you create a prenuptial agreement if this is something you are considering. You will find that an attorney’s advice and input on this matter will allow you to fully cover all bases and create a prenuptial agreement that will be best for you and your future spouse.
Statistics have shown that about one in three of all first marriages and an astounding 50 percent of second or third marriages end in divorce. With the divorce rate being so high, it is wise to invest time into the planning of your long term financial future. When you get a divorce, your spouse may be entitled to a percentage of your personal property such as your house, stocks, and retirement income. In order to avoid devastating loss, you should consider getting a prenuptial agreement.
A lawyer at Brian D. Perskin & Associates P.C. can help you create an agreement that fully addresses all of your concerns and that will work for you in the future, should the need arise. While we wouldn’t draft a prenup with the intention that your marriage will end, it is often a good insurance policy, so to speak, in case anything does come up.
Life is often unexpected, and things don’t necessarily always go as planned – especially with love and marriage. With an attorney to draft a prenuptial agreement, you can:
- Protect your separate property
- Support your estate plan
- Define what property is marital property and separate property
- Reduce conflicts and save money if you divorce
- Clarify special agreements
- Establish procedures and ground rules for deciding future matters
You should contact a lawyer at our firm and consider getting a prenuptial agreement if:
- You have assets such as a home, stock or retirement funds
- You own all or part of a business
- You may be receiving an inheritance
- You have children and/or grandchildren from a previous marriage
- One of you is much wealthier than the other
- One of you will be supporting the other through college
- You have loved ones who need to be taken care of, such as elderly parents
- You have or are pursuing a degree or license in a potentially lucrative profession such as medicine, law or finance
- You foresee a large increase in income because your business is growing
If you are considering a prenuptial agreement, you should speak with your fiancé first. While prenuptial agreements generally have a negative stigma, you should think of it as a way of communicating and planning out your long term financial situation. Communicating about financial matters in advance may, in fact, strengthen your relationship. It will also build trust and honesty.
After you and your spouse discuss the agreement and reach an accord about what you want the contract to say, you should draw up a list of your assets. Talk about the list before you hire an attorney. Be mindful that any licenses or degrees that you may obtain during the marriage are subject to equitable distribution if you get divorced.
When these steps have been carried out, you should seek professional help from a lawyer. It is advisable that you and your spouse have separate lawyers, so that both of your best interests are taken into consideration. At Brian D. Perskin & Associates P.C., a lawyer can help you work through the prenuptial agreement process. We will ensure that your property is protected and see that every step is carried out in a comfortable manner for you and your future spouse; contact us today!