Prenups aren’t just for high-net-worth couples. Today, married couples of all financial statuses can benefit from prenuptial agreements by protecting their assets both during and after marriage. However, it’s common for financial circumstances to change throughout a marriage, so many spouses wonder if a prenup can be altered at a later time. Our law firm has the answers you need! While some states have strict rules about changing prenups, New York courts are more lenient when it comes to allowing a couple to revise their prenuptial agreement. To learn more, read this blog to find out how a Suffolk County Prenuptial Agreement Attorney can provide high-quality legal counseling today.
CAN I REVISE A PRENUPTIAL AGREEMENT IN NEW YORK?
Yes, a prenuptial agreement can be modified or nullified in New York. Couples may legally alter their prenup with a lawyer or request to have the initial agreement thrown out completely. You can also use a postnuptial agreement to alter the terms of a prenup. A postnuptial agreement is very similar to a prenup; the only real difference is when they were written up. As you might be able to tell from the name, postnups are only created after the couple is already married, but spouses can utilize the agreement to protect marital assets and establish how assets will be divided if divorce occurs.
WHY DO SPOUSES REVISE THEIR PRENUPS?
There are various reasons that a married couple might decide to revise their prenuptial agreement. Some of the most common purposes for altering a prenup include:
- The couple simply doesn’t want the agreement anymore
- The couple wants to redistribute their property allocation (ex: defining separate property and marital assets)
- Additional property needs to be added to the agreement
- The financial circumstances of the marriage has changed
- The couple has had children who must be addressed in the agreement
HOW CAN I REVISE MY NEW YORK PRENUP?
While you can legally revise your prenuptial agreement, you can keep in mind that the courts will view your revisions with scrutiny. This is because some spouses might coerce their spouse into changing the prenup, so the courts want to ensure that the agreement is favorable for both parties. To avoid this issue, you and your spouse should have separate attorneys when creating a prenup or postnuptial agreement. This shows that the agreement is in both spouses’ best interests.
Are you considering altering your prenuptial agreement in New York? Are you seeking a talented family law attorney who has your best interests in mind? Look no further because the Law Offices of Susan A. Kassel, P.C. is here to fight for you! Contact our effective team today for an initial consultation.