Prenuptial Agreement Attorney

Drafting a Prenuptial Agreement

Prenuptial agreements have received a bad name in the press and in pop culture in recent years. Frequently touted as a document intended for the “old money” wealth and those who believe their marriage will not last, it is often frowned upon throughout today’s yuppie population. However, what few understand is the practicality of a prenuptial agreement not only in a country with a skyrocketing divorce rate, but also for second marriages and those with important assets to protect.

What is a Prenuptial Agreement?

Prenuptial agreement literally means a contract entered into prior to marriage which often includes provisions for the division of property and support upon a potential divorce. Prenuptial agreements can additionally include many other factors, such as the disposition of stocks, custody of future or current children, and even estate planning documents. While most prenuptial agreements are formed in order to protect children from a former marriage, some people with significant assets (such as their own small business) may simply want to protect their business interest. When you have worked so hard to achieve a small business salary, you understand the blood, sweat, and tears which go into the business development and you do not want to give this up in case a divorce occurs. Prenuptial agreements can protect your share in the business as well as protect your current spouse from going after it as an investment in case of a disputed divorce.

Prenuptial agreements can serve as a good substitute to a will in case you do not have time to draft one before a fatal accident occurs. A prenuptial agreement can dictate what happens to your property when you die, which is extremely important if you have a number of assets which can only be disposed of through estate planning documents.

Recent horror stories in the legal community of New York have indicated a new rise of poorly drafted prenuptial agreements which do not stand up in court. It is important that you hire a family law attorney who has experience drafting prenuptial agreements and can guarantee you a well-drafted document. A prenuptial agreement must have the following characteristics in New York:

• It must be in writing
• It must be entered into voluntarily
• Both parties must exercise full disclosure to the other
• The agreement cannot be unconscionable
• Must be signed and notarized by both parties

A prenuptial agreement can save both you and your spouse time, energy, and money in the event that something happens later down the road. Divorce attorneys are expensive, and dividing up all the assets can be time-consuming for everyone involved. A prenuptial agreement can cut this time down dramatically by simply stating the wants of each party prior to marriage. Many prenuptial agreements are cut and dry, allowing spouses to leave the marriage with what the entered in, with further provisions for collectively bought items. You want to be able to protect the assets you acquired before marriage, especially if you have children from a prior marriage.

NWCET Law | New York Family Law Attorneys

If you are contemplating a prenuptial agreement before marriage, do not hesitate to contact the offices of NWCET Law. Our attorneys can sit down with you and assist you in drafting a prenuptial agreement that will protect your assets and hold up in court.