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Prenuptial Agreements in Long Island, New York

Marriage is romantic, but it also has a practical side. This is why many clients choose to enter into a prenuptial agreement upon marriage. The true benefit of a prenuptial agreement is that it allows the parties to maintain control over their assets and finances, rather than allowing New York State law to dictate their future.

Discuss the benefits of a prenuptial agreement with a prenup lawyer on Long Island. Contact us online or call (516) 688-0088!

What Does a Prenup Do?

A prenuptial agreement is a legal agreement both parties make prior to entering a marriage. Also referred to as a premarital agreement or prenup, a prenuptial agreement makes particular stipulations regarding the terms of your marriage, as well as the terms of your divorce or separation if the marriage doesn't work out.

In New York, prenups can dictate:

Pre-nuptial agreements can also:

  • Dictate how much of the Protect assets where one or both of the parties have children from a prior marriage or relationship
  • Help protect children from a prior marriage or relationship by dictating the inheritance rights of the other spouse (which may differ from New York State law)

Why Hire a Prenup Lawyer on Long Island?

Prenuptial agreements are becoming increasingly common throughout the country. As people get married later in life, they have more assets and possibly real property to consider. People who have been previously married and have children with an ex-spouse also face comparatively more complex issues regarding custody and child support, which they must take into account when remarrying.

A Long Island prenup lawyer can be extremely helpful in drafting a prenuptial agreement that will address your particular concerns that will hold up in court should it ever be necessary to execute. At Friedman & Friedman, Attorneys at Law, we help clients draft premarital agreements that effectively address their needs and concerns.

Contact Friedman & Friedman PLLC, Attorneys at Law for legal help with your prenuptial agreement.

Why Do I Need a Prenuptial Agreement?

One of the most common misconceptions about prenuptial agreements is that only those who are rich and have many assets are in need of one. The fact is that every married couple could benefit from this legal document. You might not have much in the way of assets or wealth now, but you could discuss important financial issues, such as whether you plan on pooling your income and sharing the fruits of your labor, or if one spouse would like to maintain separate bank accounts and control his or her own income.

Even the process of discussing a prenuptial agreement can help provide a strong foundation for your marriage. Oftentimes, couples find out too late that their ideas about money are vastly different. Tackling this important topic now will help both of you in the long run.

If you do have a lot of wealth, assets, and property, having a prenuptial agreement in place will help you protect them. You might never have to use your prenuptial agreement, but planning for a worst case scenario will help not only you, but your family as well, since you will be able to bypass having to hash out an agreement in court that can cause unnecessary heartache and stress for everyone involved.

Do Prenuptial Agreements Show a Lack of Trust?

This is usually the biggest elephant in the room when it comes to prenuptial agreements. After all, you are about to embark on a marriage and planning for a worst-case scenario might not sound like the most romantic thing to do. However, this is not an indication of mistrust at all. This is about protecting both of your futures, no matter what happens.

When couples get divorced without a prenuptial agreement, they have to work on an agreement during the worst time in their relationship and likely will not have each other’s best interests in mind. When you work on a premarital agreement, you are safeguarding each other’s future during the best time in your relationship.

Remember, just because you have a prenuptial agreement does not mean you will ultimately use it one day. Think of it as the emergency kit you keep in your car or home. It might be collecting dust and the day might never come when you have to pop it open, but having it there provides some security.

I Want a Prenuptial Agreement – What’s Next?

Once you decide that you would like to have a prenuptial agreement, you should speak to your future spouse about it. You will then have to gather all of your financial information, including a list of assets and liabilities, and sources of income.

Not every couple’s prenuptial agreement will or should look the same, so give some careful thought as to what you hope to accomplish with yours. Discuss your objectives with your prenuptial agreement attorney and make sure you ask questions if something is unclear to you. Your fiancé should hire his or her own prenup lawyer, as well and, together, both of your respective lawyers should be able to craft an agreement that is acceptable to both of you.

Prenuptial Agreement Do's & Don'ts

DO: Hire an Attorney

You may be blinded my love, such that you will tempted to agree to things that may not be in your interest. Have an attorney who specializes in family law help you through the process. You want an agreement that you're happy with today and in the future.

DO: Make Sure Your Agreement Is Valid

These agreements are only as good as they are crafted and managed. Know the rules. The agreement must be signed by both parties in front of a notary to be valid.

DON'T: Go to Extremes

Realize that you must be reasonable and conscionable. You can't stipulate anything you want. For example, the courts will not give a nod to agreements that restrict child support, custody or visitation rights. State laws vary about what you can and cannot put into a prenup. That's a good question for your attorney.

Furthermore, if spousal support provisions are not fair and reasonable under the law, they may be set aside and the court will fix the support terms.

DON'T: Stray from the Numbers

Stick to the numbers. If you clutter up your agreement with a litany of non financial stuff, like who does what chores or whether you can have pets, a judge may look askance, and not take either of you seriously. Keep your documents to the hard core financials and keep that other business for resolution elsewhere.

DON'T: Try to Pull a Fast One

Forget about pulling a fast one. If you're signing a prenup, both of you have to be of sound mind at the time, not under the influence of drugs or alcohol or under duress. Do so, and you may as well crumble that agreement because it won't hold up in court.s

Experienced Long Island Prenuptial Agreement Lawyers

Friedman & Friedman PLLC, Attorneys at Law has more than 90 years of combined experience and is fully dedicated to protecting the rights of our clients in a number of family law matters, including prenuptial agreements. When you contact our firm for a consultation, you will meet with an attorney personally and have your questions answered and needs addressed.

Contact a New York prenuptial agreement lawyer to discuss the circumstances of your premarital agreement.

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