As you prepare to start your new life together as a married couple, it may be difficult to imagine a time when the two you would not be blissfully happy in your relationship. While most marriages start out in this same fashion, many will unfortunately end in divorce. Divorce can be a messy, financially-stressful process for both parties. Even when you hope for the best outcome for your marriage, it may pay off in the long-run to plan for a worst-case scenario. Preparing and signing a prenuptial agreement with your partner may be one of the best steps that you both can take to protect your interests in the event that things do not work out as planned. This agreement enables you to both agree to divorce terms now rather than at a later point when emotions may be elevated.
Determining If You Need a Prenuptial Agreement
Before you sit down with a Manhattan prenuptial agreement lawyer, you understandably want to know if this type of agreement would benefit you or your partner. In some cases, both partners enter a marriage with minimal financial assets and reasonably low income. They may have few or no assets that they may need to protect in the event of a divorce. On the other hand, there are many instances when one or both partners bring real estate holdings, retirement accounts, stock accounts and even business ownership interests into the marriage. There may also be instances when one partner intends to support his or her spouse through college, creating future financial inequity. These are situations when one or both parties may rightfully be concerned about what may happen to him or her financially in the event of a divorce, and these are situations when signing a prenup may be a smart idea. Consulting with a prenuptial attorney in Manhattan can help you to determine if this type of agreement is beneficial to you.
Understanding Legal Protections for Both Parties
Some people believe that prenuptial agreements only protect the wealthier partner or the partner who earns a significantly higher income, but this is not always the case. A prenuptial agreement may be written so that assets and income are protected in most instances, but there may be exceptions for abuse, infidelity and other breaches of marital vows. In addition, a prenuptial agreement may be in the best interest of one or both parties when assets should be given to other parties in the event of death. You can see that a prenuptial agreement may protect both parties in various ways.
Creating a Legally-Enforceable Prenuptial Agreement
When you meet with a Manhattan prenuptial agreement lawyer, the lawyer will initially ask important questions about both of your financial situations going into the marriage as well as your expected future financial situations. This includes assets, income, retirement accounts and even post-mortem plans for assets. Keep in mind that the laws related to prenuptial agreements vary by state. If you plan to get married in a state other than New York, a Manhattan prenup attorney will not be able to assist you. In addition, remember that an attorney can only legally represent one of you.
Therefore, the other partner will need to hire his or her own prenup attorney to represent his or her interests. In many cases, couples who understand New York’s laws in this area can create terms that they both agree on. However, there are instances when the attorneys may need to negotiate. Once terms have been decided, a Manhattan prenuptial agreement attorney can draft the document for both parties to sign. Once the agreement has been executed, it is legally enforceable.
While it is possible to prepare a post-nuptial agreement, which is created after the marriage has been established, it may be easier for all involved if the couple prepares and signs a prenuptial agreement. It may take several weeks to negotiate the terms of a prenup agreement and to prepare and execute the contract. Therefore, it is wise to consult with a Manhattan prenuptial agreement attorney as soon as possible before your wedding date. Contact our office today to schedule an appointment for an initial consultation and to learn more about your prenuptial options.
In New York, a prenuptial agreement is described as a legally binding contract between two individuals before they get married. If the parties get divorced somewhere down the line, the prenuptial should hold up in court. The parties will make a clear declaration that lays out who is entitled to what. Prenuptial agreements are great for individuals who brings high assets into the marriage and want to have them protected. If you are a person in need of a good prenuptial lawyer, there are many in the Manhattan area. They will assist you with these agreements and get them set up properly.
Well before a couple reaches the point of matrimony, they should already know their rights under the law when it comes prenuptial agreements. The best thing to do is sit down with a prenuptial attorney and find out what your right are. It’s too late after you sign the papers.
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-A prenup will address several issues such as:
-Division of assets when you end your marriage
-The way finances will be handled in your marriage
-Terms of spousal support
-The handling of gifts, trusts and inheritance
-Insurance coverage, benefits and disability
The only way a prenup is considered valid is if it is read and signed by both parties. There is no such thing as an oral prenup agreement. If you feel the need to have a prenup, hire an attorney now. Things may not be as iron clad as you think. Only an experienced attorney can properly put together the paperwork made to your specifications. A good attorney can poke holes in a poorly drafted prenuptial agreement. Make sure you have your prenup up to snuff and impeachable.
There are some ways that a prenuptial agreement can be challenged:
-If you are forced to sign a prenuptial against your will
-If both parties are represented by the same attorney
-There are certain parts of the document that the court refuses to uphold
-If the prenup is extremely unfair to the other party.
If any of these things happen, you will need an attorney to speak up on your behalf. If you feel as though you were not properly treated and were forced to sign a prenup under duress or against your will, you should stand up for your rights. Speak to a seasoned prenup lawyer to determine your next step.
If you are ready to marry and are presented with a prenuptial agreement, you better make sure that it is something you are in agreement with. Signing something blindly can be a huge mistake that can cost you. Once you sign on the dotted line, you could have trouble getting it overturned. This is the reason why you should have a good attorney at your side to help with these issues.
Prenups can be challenging and complex. Divorce is already stressful enough and you don’t need anything else stressing you during the process. Allow a divorce lawyer who is steeped in prenup experience help you. Call today for a free consultation. Your case will be thoroughly examined. You will be given an honest assessment and support from a person who will ensure your rights are protected.