Before getting married, some spouses decide to get a prenuptial agreement drawn up to make certain decisions clear. After marriage, spouses share a lot of property and assets. Their marital assets can get confused with their separate property. Because of this, it can make divorce proceedings difficult. A prenuptial agreement should not be seen as an indication of a possible divorce. Instead, it should be seen as a way to avoid future arguments. Spouses can have a clear mind knowing what is their individual property.
A prenuptial agreement is a document containing a list of all assets that are to be split between spouses. It can address any inheritances that are to be passed down or collected, appreciation of property, spousal support, real estate and fidelity. To ensure that a prenuptial agreement is legally binding, it must be in the form of a written document. Both parties have to voluntarily agree on the decision to get a prenuptial agreement. They must also be accepting of the details written in the document. To make it honest, there needs to be a full financial disclosure presented in this agreement. The agreement must prove to be fair and just for both spouses involved. When it is decided upon, it must be notarized to prove that it is legally binding.
Why might people decide to get a prenuptial agreement?
Couples entering into marriage might consider a prenuptial agreement for various reasons. If they have a prized possession, such as a house that has remained in the family for years, they may want to protect it in the case that something were to happen in the future. If one spouse owns a business or has a high net worth, they may also consider this type of agreement. It can help secure their status as a business owner or high net worth individuals by protecting their assets.
Why do people get postnuptial agreements?
After couples are married, their assets may have changed. One spouse may have recently acquired a high net worth or a business. This could incline them to consider the binding document. One spouse may have inherited money or other possessions from a family member or loved one. They may wish to protect this asset by getting a prenuptial agreement signed by both parties.
Peter V. Mandi, Esq. is an experienced divorce and family law attorney located in Bohemia, New York. If you require strong and dedicated legal representation in Long Island, New York, contact Peter V. Mandi & Associates, Inc. today for a free consultation.