Getting married is one of the happiest times in an individual’s life. They may have been waiting for this moment for a long time. Finally, they are able to share the rest of their life with their best friend and person they love the most. Although this time is full of joy, it can involve legal aspects as well. If individuals have certain assets they wish to maintain control and ownership of, they should consider implementing a prenuptial agreement. Many couples may not see this as a good way to start their marriage, however, it should be looked at as a way to avoid any future conflicts.
What does a prenup include?
Prenuptial agreements are documents that establish what was to happen if a marriage did end. In these documents, individuals that are about to become married can claim what property and assets are theirs. With this written down, there will be no question as to what is owned by who. They are made before couples get married. It can help couples avoid taking legal action after a divorce, separation or death. These instances are already hard enough without individuals having to claim what they own and possibly fighting in response.
In order for the agreement to be binding, there are guidelines that need to be met. It must be a written document that is voluntarily agreed upon by both parties. For it to be effective, it has to be notarized. A prenuptial agreement lists a full financial disclosure for both persons involved to ensure that everything is accounted for. The document should be fair and just to both spouses. Within the document, there is to be no mention of children, regarding child support or custody agreements. These issues are not laid out in these documents because they are not decided upon yet.
Can I get an agreement made after I’m already married?
Couples can decide to get a prenuptial agreement even after they get married. Since this is being done after vows have been exchanged in a ceremony, it is called a postnuptial agreement. The document serves the same purpose as a prenuptial agreement and outlines what assets are owned by which spouse. This may become an option if a spouse were to start a business or acquire a high net worth that they did not have prior to their official marriage. For this document to be legally binding, it must also be written down and notarized. Also, it should be made at the voluntary willingness of each spouse.
Zimmet Law Group, P.C. is an experienced team of attorneys guiding clients through matters of estate planning and administration, divorce and family law, real estate, commercial litigation, business law, bankruptcy, and landlord-tenant law. If you require the services of an effective New York City attorney, contact our firm today to schedule a consultation.