New York Prenuptial Agreements | What You Need to Know
When it comes to entering into a legal agreement, you should always do your research and work with an experienced attorney. This is especially true when it comes to prenuptial agreements. A prenuptial agreement can protect both you and your partner’s assets. Additionally, these agreements can help ensure that you are on the same page about important financial decisions before your get married. That being said, it is important to understand what a prenuptial agreement entails, what can be included, and what makes the document valid. Read on to learn more about prenuptial agreements in New York.
What can be addressed in a prenuptial agreement?
A prenuptial agreement can help a couple:
- Determine how property will be distributed in a divorce
- Document both spouses’ right to buy, sell or manage marital assets
- Detail both spouse’s right to join and separate property in a divorce
- Document how life insurance policies will be handled
- Preserve their assets, such as inheritances or any other asset accumulated before, or during a marriage
- Determine minimum alimony payments
However, it is important to know that certain things cannot be included in a prenuptial agreement. For example, you cannot include child custody arrangements in your prenup.
What makes a prenuptial agreement legally enforceable?
Like other important legal documents, your prenuptial agreement must follow certain guidelines in order to be considered valid. To create a valid prenuptial agreement in New York, your prenup:
- must be in writing
- must be fair and just for both parties
- must include full disclosure of each spouse’s financial situation
- must be executed before marriage
- must be notarized
- Must be signed without coercion or deceit
In order to make sure your prenuptial agreement holds up in the future, it is important to work with an experienced family law attorney.
What is a postnuptial agreement?
Some couples avoid creating prenuptial agreements. However, many come around to see the benefits of these arrangements. By this point, it may be too late, as a prenuptial agreement must be created before the couple is married. However, in these cases, you can still create a postnuptial agreement. This is the same document, created during the marriage, rather than before it.
If you have any questions about prenuptial or postnuptial agreements, our firm is here to help. Contact our firm today to discuss your options with an skilled and dedicated family law attorney.
Contact Our Rockland County Firm
If you are faced with a family law matter in Rockland County, contact The Law Office of Peter L. Jameson, PLLC today to schedule a consultation.