Queens Prenuptial Lawyers
It is a wonderful time when you and your significant other decide to get married. A prenuptial agreement is so far removed from your minds. You only want to concentrate on the life you will have together. Of course, everyone enters into a marriage with the expectation that it will last forever. But, the reality is that you must entertain the thought that perhaps your marriage will end. So, perhaps you should also focus on your future.
A prenuptial agreement is a contract between you and your partner. It is must be signed prior to the marriage. Generally, a prenuptial agreement details the specifics of you and your partner’s assets (including degrees) and liabilities. Both of you must be forthcoming and honest about your assets. In a nutshell, a prenuptial agreement addresses the division of money and property, as well as possible spousal support in the event of a divorce or death. Although such areas are already addressed in New York state laws, a prenuptial agreement makes you and your partner controllers of such areas, instead of the state.
The Uniform Prenuptial Agreement Act (UPAA) has been adopted by the majority of states. However, New York is not one of them. New York state law dictates the requirements for prenuptial agreements. The requirements are as follows:
• Must be written, not oral;
• Must be signed well in advance of the wedding date;
• Cannot be unconscionable (utterly unfair);
• Must be notarized;
• Must be implemented voluntarily (no pressure was applied); and
• Must contain accurate information.
A common misconception is that prenuptial agreements help only wealthy individuals. Its purpose is to provide protection for you in the event your marriage fails. As such, it can address a variety of matters. Such mattersinclude:
• Individual property;
• Support; and
All assets and property acquired prior to the marriage is considered individual, or separate, property. This is property you bring to the marriage. As such, this property is different from the property you and your spouse acquire together. And, a prenuptial agreement will specifically address this division. It is imperative that your individual property is kept separate from the marital property. If it does not remain in your name only, then it could very well be considered marital property and divided accordingly between you and your spouse in a divorce.
We all have some form of debt. However, if you or your spouse has accumulated a significant amount of debt prior to the marriage, then it needs to remain with each spouse. And, a prenuptial agreement can declare such.
If your under-aged children from a previous marriage are not adopted by your spouse, then provisions need to be made for them. A prenuptial agreement will ensure that financial support is provided for your children if a divorce occurs.
If it has been determined that you or your spouse will not pursue your career and become a stay-at-home parent, then a prenuptial agreement can address the financial aspects of this arrangement during the marriage. It can also address the type of spousal support that will be paid during or after a divorce, or if it will be paid at all if a divorce were to occur.
If you are considering a prenuptial agreement, then you should consult a lawyer. A prenuptial agreement can be a challenging document to draft. It requires precision and attention to details. You need a lawyer who knows how to craft such a document. His knowledge will allow him to prepare an impenetrable prenuptial agreement that will withstand any challenge in court. Both your prenuptial agreement and attorney will function as one to protect your interests.