It is important to protect yourself from an uncertain future. Though it may seem alien, protecting assets before exchanging vows is an important consideration. Our firm recognizes the stigma attached to prenuptial agreements. Some believe that a prenuptial agreement starts a marriage off on the wrong foot. Some believe that these documents are for the untrustworthy and saved for those who already see the end of the road before even starting a life together. This is an unfortunate and misleading narrative. Prenuptial agreements protect assets, taking the money out of the equation. Couples who draft prenuptial agreements can focus on the love felt as they embark on a wonderful journey together. Separate assets are supposed to be protected. With over 50% of marriages ending in divorce, everyone should prepare for an uncertain future. If you are interested in learning more about prenuptial agreements or to know more about Zimmet Law Group, P.C., please contact our firm for a consultation.
Generally speaking, a prenuptial agreement is a contract drafted between parties that agree to terms if the marriage was to end. For the most part, much of this document will involve the allocation of assets and spousal maintenance if the couple splits ways. A prenuptial agreement may discuss a range of topics, including deciphering between marital and separate property, what would happen if the marriage ended because of marital fault, if a spouse was to pass and, in some cases, very detailed rules to the marriage. It is important to understand that child-related issues cannot be a part of a prenuptial agreement as it does not follow the court’s mandate to act in the best interests of the child. Below are the requirements for a valid prenuptial agreement:
Prenuptial agreements are not solely for the rich and famous. Everyone has assets that deserve protection and a prenuptial agreement is a great tool to accomplish this goal. For example, if a parent married another person after being divorced, they may wish to protect their children’s inheritance or savings. Others may want to keep a home separate because it has been in the family for generations. Sometimes, an individual should protect his or her fortune or draft an agreement for tax purposes. Prenuptial agreements allow couples to control their future, no matter their means.
New York is an equitable distribution state meaning that they will allocate assets in a fair and just manner to both parties. Part of equitable distribution is the valuation of assets and the establishment of marital and separate property. Though it may seem straightforward, there are many instances when this matter is complicated by a number of factors. With the help of a prenuptial agreement, assets can be kept separate, no matter what the future brings.
If you are interested in knowing more about getting a prenuptial agreement, contact Zimmet Law Group, P.C. Our firm’s depth of knowledge can help you make informed decisions about your future. When you meet with our legal team, we can quickly assess your situation and guide you through the best course of action. For a consultation with an effective and knowledgeable law firm, contact Zimmet Law Group, P.C.