Before marriage, creating a prenuptial agreement may seem like a bad omen as you are already thinking about divorce while planning your wedding. However, this legal contract has numerous advantages. While some may perceive establishing a prenuptial agreement as evidence of an underlying lack of trust and commitment, this is not necessarily true. The execution of this legal contract can offer each spouse financial protection in the event of a divorce, incapacitation, or death. Therefore, if you’re considering creating a prenuptial agreement before you tie the knot, there are a few things you should start thinking about. Please continue reading to learn what you should consider before signing a prenuptial agreement and how a trusted Suffolk County Prenuptial Agreement Attorney can help you guide you through this proactive approach to marriage.
What Should I Consider Before Signing a Prenuptial Agreement?
Before getting married, discussing a prenuptial agreement can be a difficult and uncomfortable conversation that causes strain on your relationship. As such, it’s essential to consider whether your future spouse will be receptive to establishing this legal contract. They may not be on board initially, but you can help them mull over the decision by explaining what could happen if you do not establish this agreement and its benefits.
After convincing your partner to establish a prenuptial agreement, consider the validity requirements and state compliances. New York has strict requirements that must be met to have a valid prenuptial agreement that is enforceable in court. If you fail to meet the requirements, the court will likely not adhere to the terms previously stipulated in the contract, meaning the decisions regarding the terms that will apply to the termination of your marriage will fall into a judge’s lap. New York is an equitable distribution state, meaning your marital assets will be split equitably, but not necessarily in an even 50/50 split. With a prenutpial agreement, you can protect your hard-earned assets. You can specify which assets are considered separate property and what will be considered marital property. Separate property is not subject to division in a divorce.
Moreover, it would be best to consider what to put into the prenuptial agreement, such as alimony agreements, debt assignments, inheritances and fits, and other clauses. If you have children and are a financially disadvantaged spouse, you should consider whether you want to waive alimony or leave it up to the courts, as it could affect your financial security in the future. You can ensure that your partner’s debts brought into the marriage remain theirs, protecting you from being held liable. Ultimately, a prenuptial agreement can help you protect your assets in the future.
The bottom line is that there’s much to consider when establishing a prenuptial agreement. As such, you should enlist the help of an experienced attorney from The Law Offices of Susan A. Kassel, P.C., who can help you determine whether signing this contract is the best course of action for your situation.