What to Know About Prenuptial Agreements in New York

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What to Know About Prenuptial Agreements in New York

Combining your assets is one of the most difficult aspects of a marriage. When it comes to divorce, separating these assets can be even harder. One of the best ways to protect your assets is with a prenuptial agreement. Read on to learn more about prenuptial agreements in New York.

What is addressed in a prenuptial agreement?

A prenuptial agreement is a legal document that declares how a couple’s assets will be split in the event that their marriage comes to an end. These agreements are beneficial to both parties, as they allow you to enter your marriage feeling protected, secure, and prepared for all possibilities. Some of the things you can address in a prenup include:

  • How former spouses will contribute to alimony payments
  • How their property will be divided, should they divorce
  • Both spouse’s right to buy, sell or manage specific marital assets
  • How life insurance policies should be managed or owned
  • Spouse’s right to join or separate property
  • Any other aspect of a divorce that a couple seeks to address, as long as they are in accordance with public policy

What makes a prenup valid?

A prenuptial agreement is an important legal document. As a result, it must meet the following requirements:

  • Prenuptial agreements must be in writing
  • They must be notarized
  • They must be fair and just for both parties
  • They must be executed before marriage
  • They must include a full financial disclosure at the time of signing and execution
  • They must be voluntarily signed by both parties

Can I make a prenup if I am already married?

As stated above, in order to be considered valid, your prenup must be executed before your marriage. But, if you are already married and you wish to create a prenup, you’re in luck. In this case, you can create a postnuptial agreement. This is the same type of agreement, but it is created after the wedding, rather than before.

If your prenup does not meet these requirements, it will likely not hold up in court. This can cause major issues down the line, so it is important to work with an experienced attorney when creating a prenuptial agreement.

If you have any questions or concerns about prenuptial agreements, our firm is here for you. Reach out today to discuss your options with a skilled family law attorney.

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I hired Susan to represent me in a divorce matter where I was fighting for custody and to limit my wife's equitable share of our assets. I won custody of our son, kept the marital residence, kept my professional practice, kept my building and paid less than half to my wife. This was after a long-term marriage. She could persuade the court that equitable is not equal and sometimes the man does deserve to win!

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