New York recognizes prenuptial and postnuptial agreements. The difference between them is: A prenuptial agreement is executed before marriage and a postnuptial agreement is executed after marriage.Nuptial agreements are mistakenly considered to be only for the rich. Anyone with substantial assets, people who are remarried, and others should consider entering into a prenuptial or postnuptial agreement.Nupital agreements ensure that if either part wishes to resign from a unification they will each wal away with the assets they entered in with.
The purpose of a nupital agreement is simple: Asset Protection
Most people realize how many marriages end in divorce. While no one ever believes he or she will be part of the one out of three that will end in divorce, some believe it is prudent to engage in some premarital financial planning to avoid future disputes in the event something happens. Some even see it as a way to enter into marriage mroe quickly, while protecting themselves in the event that it doesn't work out.
There is nothing wrong with planning for contingency, including a problematic marriage, no matter how slight the possibility. The best part about Prenuptial agreements can be for a finite length of time, so if you believe your marriage will be at its peak after two years, then the prenup can simply dissolve after two years.
Anyone can get a prenuptial agreement. The majority of people requesting a prenuptial agreement typically fit into one or more of the following three categories:
Remarriage - When you have seen firsthand that not all marriages work out.
Vastly different economic circumstances - When you want to protect your assets until you are sure that the marriage will work.
-Future dispute avoidance - When you want to be prudent and avoid costly litigation over property distribution if the marriage does not work out.
-Peace of mind - Marriage is big step. A prenuptial agreement can take some of the anxiety away by letting you know what will happen if it turns out that you and your future spouse are incompatible partners
Prenuptial and postnuptial agreements must be drafted properly to be enforceable. In addition, they can be an obvious factor in a divorce.
Eric Gansberg has over twenty years experience handling family law matters, including drafting and litigating prenuptial and postnuptial agreements in Straten Island including: Clifton, Concord, and Grant City. In addition, they are a valuable resource for clients. Because of our experience and knowledge, we can assist clients in anticipating potential future disputes and helping them avoid those disagreements if the marriage fails.
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