Although many couples do not wish to start off their marriage by signing a prenuptial agreement, it can be a good way to prepare for the future. By creating one of these agreements, it can prevent heated arguments about money and possessions. A prenuptial agreement can allow both spouses to have their assets claimed to avoid any confusion over who owns what possession. Instead of thinking about prenuptial agreements as a negative document, it’s better to think of it as a way to avoid conflict.
The Process of Obtaining a Prenuptial Agreement
Prenuptial agreements are documents that establish what will happen if a marriage ends. A postnuptial agreement can serve the same purpose. It can help couples avoid taking legal action after a divorce, separation or death has occurred. 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 and postnuptial agreement lists a full financial disclosure for both parties involved. 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. Matters involving the children are made during the divorce process, not in these documents.
Post Nuptial Agreements
If they decide not to execute a prenuptial agreement, they can opt to get one after they are already married. However, this is then known as a postnuptial agreement since it is being made after the couple is officially married. Couples may wish to do this if they acquire a high net worth, own a business or have sentimental items they wish to keep to themselves. The document serves the same purpose as a prenuptial agreement. This could 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 marriage. To complete this document, the same rules must be applied. This means that children are still not allowed to be mentioned in the document.
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.