NYC Prenuptial Lawyers
Divorce is the last thing that someone about to marry wants to concern themselves with. People tend to think of prenuptial agreements in those terms. They tend to see them as a sign that the person who asks for one has little faith in the durability of the marriage. But establishing a plan for divorce is not the primary function of prenuptial agreements. The main aim of such contracts is to remove the discretionary power of judges over property. New York State gives judges wide latitude in deciding how marital assets are to be distributed in the event of divorce or the untimely death of the wealthier partner. A prenuptial agreement provides instruction for how assets and wealth are to be disposed of if either of the two were to occur.
If you possess substantial and extensive assets, asking your future spouse to sign a prenuptial agreement is really not about you. Your position more than likely involves you in a number of ongoing business concerns and enterprises. Your wealth is tied up in companies and commerce that underwrites the livelihoods of a great many people. It is important that these operations carry on intact no matter what. Their fate cannot hinge on the state of your love life or your mortality. A prenuptial agreement separates these interests from your marital estate, allowing them to carry on as they have been regardless of what may occur in your personal life.
However, you do not have to be a wealthy individual or be at the head of a business enterprise to find some use in a prenuptial agreement. Even if your assets are much more limited they are still worth protecting. If you own property and are marrying someone who doesn’t, it is not unreasonable for you to want to remain the sole proprietor of it. You see no reason to expect anything but a long, loving, and happy marriage. But you need not make assets that you have strived to accumulate part of the marital estate in order to show your confidence in your future spouse.
Another ordinary use of prenuptial agreements concerns the management of debt. If you and your intended are like most couples, you both are entering the marriage with debt. There tends to be no way around incurring debt in today’s society, so it is a perfectly normal thing for both of you to have. After you marry you will probably take on more debt. A prenuptial agreement will ensure that you are not compelled to service the debt incurred by your partner before the marriage should the latter ever be dissolved. This is a practical, common sense thing that many couples are willing to agree to.
One of the best and most valuable uses of pre-nups is to keep family heirlooms separate from the marital estate. If you have inherited diamonds, precious stones, jewelry, antique furniture, ancient artifacts and other items of sentimental as well as monetary value, you should get a prenuptial agreement that ensures that you remain the sole owner of those items no matter what happens in the marriage. You can also have the agreement stipulate that in the case of your untimely death the objects you inherit will go to your children or if you don’t have children to some other relative. The point is that a prenuptial agreement will guarantee that family heirlooms stay within the family.
Working with a lawyer specialized in drawing up prenuptial agreements is the best way to go. It will ensure that you get a prenuptial contract that is sound and solid and will act as the governing instruction in the event of divorce or your untimely departure.