Prenuptial agreements are controversial. But, this controversy is rooted in misconception. Read on to learn more about prenuptial agreements and some of the most common myths surrounding them.
Prenuptial Agreement Myths
- Only wealthy couples need a prenup
- Some people incorrectly believe that prenuptial agreements are only necessary when couples are of especially high net worth. Others believe prenups are only useful when one couple has significantly larger assets than the other. In reality, a prenuptial agreement can benefit anyone who has any property they wish to protect. This can include certain assets, items of sentimental value, and more.
- It is easy to keep separate property separate
- When a couple gets divorced in New York, their assets will be divided through the process of equitable distribution. This means that the assets may not be divided 50/50, but instead will be divided in a way that is fair to each party. Only marital assets will be up for division. In New York, your assets are considered marital property or separate property. Marital property is property that was acquired during the marriage, whereas separate property was obtained before the marriage, or purposely kept separate from the other spouse. It is important to know that separate property can become marital property, so if you want to keep any property separate, it is best to list it in your prenuptial agreement.
- A prenuptial agreement means my marriage is unstable
- Because a prenup deals with the end of a marriage, many couples avoid them. But, creating a prenuptial agreement does not imply a lack of trust or an unstable marriage. In fact, it can make a marriage even stronger. This is because it allows both parties to feel safe, secure, and stable while entering this exciting new chapter of their lives. Additionally, couples who create prenuptial agreements will inevitably have important conversations about the future, finances, and more, before the wedding, rather than after it.
- A prenuptial agreement won’t hold up in court
- If you create a prenuptial agreement with the help of an experienced attorney, it can save you a lot of time and money in the event of divorce, as it may help you avoid a lengthy litigation process.
If you are interested in creating a prenuptial agreement, contact our firm today to speak with an experienced family law attorney.
CONTACT OUR 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.
