You may view marriage as the combining of your life and your fiancé’s life into a shared one. At the same time, this may involve the combining of your finances with that of your fiancés. This is one of the many reasons why marriage is considered such a huge step that should not be taken lightly. Rather, it is strongly encouraged that you lay out the financial groundwork and have those tough, and sometimes unforgettable situations, regarding money with your fiancé before you both say the words, “I do.” Ultimately, a straightforward approach to accomplishing this is by establishing alimony terms and conditions within a prenuptial agreement. Read on to discover whether it is possible to establish alimony before you get married and how a seasoned New York City prenuptial agreement attorney at Zimmet Law Group, P.C. can help you make the necessary preparations.
Is it possible to establish alimony in a prenuptial agreement?
First things first, a prenuptial agreement is a written contract entered into by you and your fiancé before marriage detailing each of your assets and what will happen to them if you, unfortunately, get a divorce in the future. Such details may go as far as disclosing what financial support you can give, or what financial support you need to receive, should you become independent from your spouse one day. In short, this means that it is very much possible to establish alimony terms and conditions within your prenuptial agreement. Such terms and conditions may include the following:
- You and your fiancé may outline the form of spousal support that should be sent/received (i.e., temporary, rehabilitative, permanent, etc).
- You and your fiancé may outline the amount of spousal support that should be sent/received.
- You and your fiancé may outline the timing that spousal support should be sent/received.
- You and your fiancé may outline the waiver of spousal support entirely.
Is it possible to make modifications to a prenuptial agreement?
Evidently, no couple can predict what the future holds after tying the knot. In other words, it may be rather impossible to predict just what financial situation you and your spouse will find yourselves in in the years after your “I dos.” But with this, you may rest assured knowing that you may modify or terminate the alimony terms and conditions in your prenuptial agreement. Such modification or termination may be warranted under the following circumstances:
- You and your spouse have made significant purchases in real estate throughout your marriage.
- You and your spouse have made significant investments throughout your marriage.
- You and/or your spouse have started a successful business during your marriage.
- You or your spouse have decided to stop working to take care of the household during your marriage.
The best way to protect your finances before entering a marriage is to retain the services of one of the competent New York City matrimonial and family law attorneys. So please do not hesitate to contact Zimmet Law Group, S.C.
