If you are getting married, you and your partner may be thinking about the best ways to combine your assets. Are there certain assets that you would prefer to keep separate? Do you own a business together? Do you simply want to feel prepared for all possible future outcomes? If you are grappling with these questions, you may benefit from creating a prenuptial agreement. A prenup is a legal document that declares how a couple’s assets will be divided in the event that the marriage ends, due to separation, divorce, or death. While people tend to believe prenups have a negative connotation, the reality is, these agreements can greatly benefit both parties in a number of ways. Read on to learn more.
Why create a prenuptial agreement?
Couples draft prenuptial agreements to protect various assets including:
- 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
How can I ensure my prenup is valid?
If a prenuptial agreement does not meet certain requirements, it won’t hold up in court. This can cause a lot of issues down the line, so it is important that your prenuptial agreement meets the following requirements:
- 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
Can I Be Forced to Sign a Prenup?
In some cases, couples may not be on the same page when it comes to creating a prenup. Because the document must be signed voluntarily, you cannot be forced to sign. If there is proof of manipulation, coercion, or duress, the prenup can be contested. That being said, it can be beneficial to have an open discussion regarding your differing opinions and explore other options with the help of an experienced attorney.
If you are interested in creating a prenuptial agreement, our firm is here to help. Reach out today to discuss your options with a skilled and dedicated 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.