Manhattan Prenup Attorney Explains Benefits of a Prenup When Going Through a Divorce
What is a Prenuptial Agreement
You may also hear prenuptial agreements referred to as a prenup, and they tend to get the most attention as a part of celebrity divorces. Even though prenups are most typically associated with rich or famous couples, they are becoming more and more popular as an invaluable tool for couples in all ranges of financial situations and circumstances.
Prenups help to establish which spouse will take care of certain financial obligations in the event of divorce. They also arrange which spouse will be entitled to certain benefits, which will depend on the relative financial status of the parties at the time they are married.
A prenuptial agreement is also beneficial to clearly define one’s intent relating to anticipated inheritance that might be used during the marriage. Other circumstances where prenuptial agreements are beneficial are where one of the parties was previously married, or if there are children from prior relationships.
Overall, a prenuptial agreement is a way for engaged couples to get clear about the finances of the other, understand the assets and debts that exist prior to marriage, consider how they will manage finances during the marriage, and are also a way to financially provide for each other in the event that the unthinkable happens, if the marriage does not work out.
Why are Prenups so Helpful in Divorce?
As you can see, before you even get to the point of divorce, prenups can be a useful tool for couples to be open about their finances before marriage. They can make sure that each partner is on the same page regarding the current financial obligations. And, if there is clarity and open conversation about money and finances prior to marriage, it will likely make those “tough” conversations easier to navigate during marriage.
If, however, you have to go through the unfortunate experience of a divorce, a prenup can eliminate unnecessary stress from not knowing how your finances will be addressed. The more that you and your spouse are able to agree on without involving a judge, the more control you will have over the outcome of your circumstances and the less legal expense will be incurred to resolve those issues.
In addition, having a prenup in place allows you to focus more intently on co-parenting decisions that will have to be made about your children, if any. By eliminating the potential for endless litigation over how finances, assets and debts will be shared and divided, you and your spouse can get straight to deciding on how you will address the way that you want to co-parent, if there are children from the marriage. And, if there are no children, a prenuptial agreement will streamline the resolution of divorce terms.
If you decide to go through the mediation process in New York to finalize your divorce, having a prenup in place can significantly speed up the resolution of your divorce. This will also cut down on legal fees that you would otherwise have to pay to decide on important financial matters.
Quality Representation in Getting a Prenup in New York
If you are looking for a seasoned attorney to assist you with the process of signing a prenup or starting the mediation process in New York for a divorce, contact Attorney Sabra Sasson of the Sabra Law Group at 646-472-7971.
And, if you want to learn more about prenups, Sabra Sasson Esq is the speaker on a webinar taking place on November 30, 2016. You can sign up for FREE here at bit.ly/savvyprenup.
