Brooklyn Prenuptial Agreement Lawyer
Your wedding is approaching, and although you love and trust your soon-to-be spouse, a prenuptial agreement is an extra precaution to help protect assets or determine how they are distributed in the case of an unforeseen event. If you’re searching for a Brooklyn prenuptial agreement lawyer, look no further— we can walk you through the process and create an agreement that is satisfactory to all parties.
What is a Prenuptial Agreement?
What is a prenuptial agreement? A prenuptial agreement is simply a contract between the two parties that provides guidelines for the division of their assets in the event of their divorce or one partner’s death. It can also outline expectations of a marriage. This could include what happens to assets in the case of adultery, or if a prenuptial agreement will expire after a certain period of time. It can also include expectations that don’t involve money, as long as they’re reasonable. Whatever a client needs, our firm can put together a contract that covers it all.
Reasons You Want To Consider Getting a Prenuptial Agreement
There are several good reasons to consider a prenuptial agreement. Although a sensitive subject, in this modern age with a high divorce rate, it doesn’t hurt to be protected. Some factors that might make a prenuptial agreement important is if there is partial or full ownership in a business, one person is much wealthier than the other, there are children or grandchildren from a previous marriage, or there are elderly family members to take care of. Further reasons include a future inheritance, a pending degree in a high-paying field, one spouse will be supporting the other through school, or a current job is close to having a dramatic increase in income. A prenuptial agreement might simply serve to protect assets like bonds, stocks, or a home. We can answer any questions surrounding the reasons to use a Brooklyn prenuptial agreement lawyer.
What Does a Prenup Cover?
A prenup can be used to create guidelines for the use and ownership of any assets, debts, and finances during a couple’s marriage. This includes property owned prior to entering the marriage and the support of a spouse and any children from previous relationships in the household.
A few issues that may be determined in a prenuptial agreement include:
- Defining marital and solely-owned property. For example, an individual who owned a home before marrying may opt to retain sole ownership of the property, which means its value will not be divided in the event of a divorce;
- Allocating certain assets to go to one’s children, rather than one’s spouse, in the event of his or her death;
- Determining how marital funds will be saved and divided during the couple’s marriage; and
- Ensuring that any debt accrued prior to entering the marriage remains the sole responsibility of the individual who incurred it.
How to Get a Prenup
Both partners should have their own attorney before signing a prenuptial agreement. After discussing your financial circumstances and the relevant state laws with your lawyers and your partner, draft the agreement. After reviewing this draft, make any necessary revisions to ensure that it is a fair, enforceable contract.
Once you and your partner are happy with the terms of your prenuptial agreement, it must be executed and acknowledged with the same formality as a property deed. In New York, this type of document does not need to witnesses present at its signing in order to be valid. Rather, both partners’ signatures must be on the document and this signing must be made before a notary public. Once you have your prenuptial agreement notarized, its terms go into effect when you are married. It is not necessary to file a prenuptial agreement with the court. Oral agreements and written agreements left unsigned are not valid.
What Requirements Must be Met for a Prenup to be Valid and Enforceable?
A prenuptial agreement is generally presumed to be valid and thus, enforceable. When an agreement contains clauses that cannot be legally enforced, such as a requirement that the couple maintains a specific lifestyle or a requirement regarding how many children the couple will have, that portion of the agreement may be cast aside while the valid portions are upheld.
An individual can also challenge the validity of his or her prenuptial agreement under one of the following circumstances:
- The agreement was signed under coercion or duress;
- The agreement contains wildly unfair clauses that favor one partner; or
- The agreement was made fraudulently, meaning that one partner misrepresented his or her financial and personal information to the other before they signed the agreement.
A prenuptial agreement cannot contain requirements for the custody or support of a couple’s children after their divorce. Unlike some other states, New York does allow couples to waive their spousal maintenance rights after their divorces.
What’s in a Prenuptial Agreement Process?
The prenuptial agreement process. Before drafting a prenuptial agreement it is helpful to sit down with your future spouse and determine the terms of the contract. It can be beneficial to start the process sooner than later, leaving plenty of time before the wedding to make sure everyone is happy with the document.
Whatever your reasons, or terms you wish to include—our firm can help create the right contract for you and your fiancé. If a Brooklyn prenuptial agreement lawyer is what you seek, we can get the job done for you in a timely and sensitive manner before your special day.