One of the scariest aspects of marriage is uncertainty. Even though you love your significant other, nothing in life is 100% guaranteed. Unfortunately, there is no real romantic way to suggest getting a prenuptial agreement to prepare for divorce before you are even married. However, the truth is, a prenuptial agreement may prove to be a huge help in the future.
When spouses cannot agree on the terms of their divorce and they do not have a marital agreement in place, their assets are very often subjected to equitable distribution. This is a legal means of essentially saying that a court will decide “who gets what.” Fortunately, when couples draft a prenuptial agreement before marriage, they can very often save their assets entirely from the equitable distribution process. If this sounds like something that may appeal to you, please read on and hire an experienced attorney to learn more. Here are some of the questions you may have regarding prenuptial agreements:
Why should I get a prenuptial agreement?
Couples draft prenuptial agreements to protect various assets, including, though not limited to:
- Ownership rights of disability policies
- Retirement funds acquired before marriage
- Family inheritances
- Each party’s finances
- Any spousal support or alimony obligations, should a marriage end
- Division of property that either or both spouses own
- Ownership rights of life insurance policies
What makes a prenuptial agreement valid and enforceable?
There are several qualifications for a valid and enforceable prenuptial agreement in New York State. They are as follows:
- Prenuptial agreements must be in writing
- Prenuptial agreements must be executed by both parties before a notary
- Prenuptial agreements must include a full disclosure
- They must be fair and just
- They must be executed voluntarily
If, however, you are already married, you may no longer draft a prenuptial agreement. However, there is an alternative–you may draft a postnuptial agreement. Postnuptial agreements serve essentially the same function as prenuptial agreements, though they are drafted after a marriage is already official.
Though understandably, it may be difficult to explain to your spouse why you feel a postnuptial agreement is necessary, it may give both of you the peace of mind to sleep soundly at night, knowing your assets are safeguarded. However, it is always important that you remain open and honest in your reasoning with your spouse. If you or your spouse are interested in drafting a marital agreement, do not hesitate to reach out to our compassionate firm.
Contact our experienced Long Island firm
Peter V. Mandi, Esq. is an experienced divorce and family law attorney located in Bohemia, New York. Our firm understands the impact a divorce can have on your life. If you require strong and dedicated legal representation in Long Island, New York, please do not hesitate to contact Peter V. Mandi & Associates, Inc. today.
