Marriage is a big step for couples, and it’s important for those entering this union to take the necessary precautions to protect themselves in the future. One way to do this is by creating a prenuptial agreement, which may not seem romantic, before tying the knot. However, it can help safeguard each spouse’s hard-earned assets and ensure both remain liable for the debts they brought into the marriage. It can also help provide financial stability for any children that may come along in the future. While some couples may feel that creating a prenuptial agreement implies a lack of trust or commitment, it’s a practical step. Before signing this legal contract, it’s imperative to consider a few things and seek advice from an experienced Rockland County Prenuptial Agreement Attorney who can help you determine whether establishing this legal contract is the best course of action for your marital relationship.
Should I sign a prenuptial agreement?
A prenuptial agreement is a legal contract that you and your spouse can sign before getting married, detailing how each of your assets will be divided and how financial obligations will be handled during a divorce. Essentially, this agreement allows you to specify who gets what when divorcing. No matter what stage of life you are at, it’s essential to be as prepared as possible and take the necessary measures to safeguard your financial security for the future.
What should I know before drafting this contract in New York?
Firstly, it’s a common misconception that prenuptial agreements are not legally binding. However, once you sign the agreement, it becomes enforceable, meaning the terms you stipulate will be honored by the court in case of a divorce. Therefore, you should ensure that it explains what you and your spouse have agreed on for the future.
Moreover, it’s likely your spouse may not jump on board right away. It’s common for those entering a marriage not to want to think that their marriage will ever end in the future. However, you can discuss what could happen if you do not establish this agreement and its various benefits. In addition, you should consider what you want to include in this agreement. It’s beneficial to clarify asset ownership, determine alimony agreements, assign debt, protect inheritances/gifts, and consider putting clauses in your prenuptial agreement.
Furthermore, if you have children from a previous marriage, you should consider their financial needs and future inheritances. If you need financial support in the future, stipulating an alimony agreement can help you get the financial support you need for yourself and your children while you get back on your feet. Finally, it would be best to consider how you plan to create this prenuptial agreement, as it can be done online or through the traditional route of hiring an attorney.
It’s in your best interest to retain the legal services of a qualified prenuptial agreement attorney from The Law Office of Peter L. Jameson, PLLC, who can help you draft a well-constructed contract that covers all of your bases to protect you and your children in the future.