Manhattan Prenuptial Attorneys
As you prepare to start your new life together as a married couple, it may be difficult to imagine a time when the two you would not be blissfully happy in your relationship. While most marriages start out in this same fashion, many will unfortunately end in divorce. Divorce can be a messy, financially-stressful process for both parties. Even when you hope for the best outcome for your marriage, it may pay off in the long-run to plan for a worst-case scenario. Preparing and signing a prenuptial agreement with your partner may be one of the best steps that you both can take to protect your interests in the event that things do not work out as planned. This agreement enables you to both agree to divorce terms now rather than at a later point when emotions may be elevated.
Determining If You Need a Prenuptial Agreement
Before you sit down with a Manhattan prenuptial agreement lawyer, you understandably want to know if this type of agreement would benefit you or your partner. In some cases, both partners enter a marriage with minimal financial assets and reasonably low income. They may have few or no assets that they may need to protect in the event of a divorce. On the other hand, there are many instances when one or both partners bring real estate holdings, retirement accounts, stock accounts and even business ownership interests into the marriage. There may also be instances when one partner intends to support his or her spouse through college, creating future financial inequity. These are situations when one or both parties may rightfully be concerned about what may happen to him or her financially in the event of a divorce, and these are situations when signing a prenup may be a smart idea. Consulting with a prenuptial attorney in Manhattan can help you to determine if this type of agreement is beneficial to you.
Understanding Legal Protections for Both Parties
Some people believe that prenuptial agreements only protect the wealthier partner or the partner who earns a significantly higher income, but this is not always the case. A prenuptial agreement may be written so that assets and income are protected in most instances, but there may be exceptions for abuse, infidelity and other breaches of marital vows. In addition, a prenuptial agreement may be in the best interest of one or both parties when assets should be given to other parties in the event of death. You can see that a prenuptial agreement may protect both parties in various ways.
Creating a Legally-Enforceable Prenuptial Agreement
When you meet with a Manhattan prenuptial agreement lawyer, the lawyer will initially ask important questions about both of your financial situations going into the marriage as well as your expected future financial situations. This includes assets, income, retirement accounts and even post-mortem plans for assets. Keep in mind that the laws related to prenuptial agreements vary by state. If you plan to get married in a state other than New York, a Manhattan prenup attorney will not be able to assist you. In addition, remember that an attorney can only legally represent one of you. Therefore, the other partner will need to hire his or her own prenup attorney to represent his or her interests. In many cases, couples who understand New York’s laws in this area can create terms that they both agree on. However, there are instances when the attorneys may need to negotiate. Once terms have been decided, a Manhattan prenuptial agreement attorney can draft the document for both parties to sign. Once the agreement has been executed, it is legally enforceable.
While it is possible to prepare a post-nuptial agreement, which is created after the marriage has been established, it may be easier for all involved if the couple prepares and signs a prenuptial agreement. It may take several weeks to negotiate the terms of a prenup agreement and to prepare and execute the contract. Therefore, it is wise to consult with a Manhattan prenuptial agreement attorney as soon as possible before your wedding date. Contact our office today to schedule an appointment for an initial consultation and to learn more about your prenuptial options.