Although prenups can be sensitive topics to bring up, there are enough benefits to one that it is a worthwhile topic to discuss. In this blog post, we’ll look at what a prenup even is, when it would be most useful, and what factors might end up invalidating one. If you are considering a prenuptial or postnuptial agreement, contact a Suffolk County family court lawyer right away. We have extensive knowledge of the marriage and divorce legal processes. We will advocate on your behalf while being conscious of family dynamics, to keep things as stress-free as possible.
Prenups: Basic and Useful Facts
A prenuptial agreement, or a prenup, is a contract between you and your future spouse. Such agreements can have a high degree of success, and they require both parties to disclose all information about their assets, to acquire independent counsel to represent them, to enter the prenup voluntarily, and to do so with enough time to have sorted through your thoughts.
Prenups can cover topics that typically come up in the context of divorce (and hence make a divorce less of an interruption to daily life than it otherwise would be). Some examples are:
- Spousal support
- Debt and property divisions
When Should You Consider a Prenup?
Prenups are recommended in most cases, but some situations give more urgency to the matter than others. You should strongly consider a prenup if:
- You’re a business owner
- You have more income or assets than your prospective spouse, or you’re anticipating a notable inheritance and or a large monetary gift
- You earn significantly less than your spouse
- You were previously married
- You have children with a past relationship
- You are notably concerned with privacy.
Reasons a Prenup May Be Invalidated
New York also has some unique considerations with regard to prenups.
Prenups are not enforceable if they are the result of duress, coercive, or threatening behavior. However, not all states agree on what is and isn’t threatening. In states like Tennessee, telling your spouse that you won’t marry them unless they sign a prenup is fine and not seen as coercive. Whereas in New York, that same stipulation may be considered duress or coercion enough to invalidate the prenup.
Fraudulent actions in the creation of the prenup are also impermissible, as when, for example, one spouse doesn’t fully explain and detail their financial situation. And an unconscionable prenup is one where the terms are so clearly and obviously unfair that no reasonable person would agree to them and no fair person would ever try and negotiate for such lopsided terms.
