Postnuptial Agreement

How to Protect Your Future as a Married Couple in New York with a Prenup

As a New York prenup attorney, I have seen people fall in and out of love.  Some people associate prenups with a negative connotation and think that it reflects a lack trust or love.  However, the reality is that a prenup can be a token of love and commitment to protecting each other in the future. It is a terrific planning tool and the discussions that emerge during the creation of prenup terms serves to strengthen the relationship.

 

Why Prenuptial Agreements Are an Important Part of Getting Married

 

A prenup agreement is a legally binding contract that dictates how assets and property will be divided and distributed in the event of a future breakup.  A prenup agreement all of the financial matters in a marital relationship which can include (or exclude) real estate and investment property, savings, investments, businesses, and debts.

Married Couple in New York

Believing that Prenups Are “Just for the Wealthy” is a Myth

 

Prenups are no longer just for the wealthy, and couples from all income levels can reap the benefits of having a prenup in place, just in case. A prenup can also help a spouse ensure that their family business remains in their family.  On the other hand, it can also protect a spouse from the enormous debt their partner may have acquired over time. They can be beneficial for couples of all income levels and in the event this is a second or third marriage for either partner and where there are children from prior relationships. A prenuptial agreement is a viable way to protect your credit and your future financial health. 

 

 

Prenups Can Help Couples Avoid a Long-Drawn-Out Costly Divorce

 

One of the reasons a divorce ends up in court and can take years of litigation is because the couple is battling over assets, property, savings accounts, businesses and other investments. Not only is this a long process but it can also take an emotional and financial toll on all involved. When a couple has a prenup in place which effectively and clearly addresses how assets, property, and investments will be divided between them; it will settle those issues between them and expedite the divorce process.  Divorce doesn’t have to be emotionally and financially draining; consider a prenup as “insurance” for your marriage.

 

 

Consider a Prenup as a Symbol of Love and Commitment to Your Partner

 

By openly communicating about protecting each other’s financial future and discussing your commitment to each other, it can also serve to bond and strengthen your relationship.

 

You Can Have Your New York Prenup Attorney Modify Your Prenup as Your Life Situation Changes

 

Once you have been married for many years, you may need to adjust your prenup based on your financial situation and other factors that may impact your original prenup agreement. This will allow your prenup to remain relevant and ensure that it meets your needs for the long-term.

 

Consider a Prenup Agreement if You Are Getting Married or Recently Engaged

 

A prenup can help you avoid a lengthy and expensive divorce process and protect your assets. It also enables you to symbolize your love and commitment to each other. If you want more information about creating a prenup agreement, call Sabra Law Group to speak to a New York Prenup lawyer at (646) 472-7971.

 

 

 

 

 

 

 

 

 

 

 

Why You Don’t Need a High Net Worth to Have a Prenup in New York

Why You Don’t Need a High Net Worth to Have a Prenup in New York

Prenuptial agreements are no longer just for the wealthy.   A prenup makes sense for any couple entering a marriage to safeguard their assets and investments. You don’t need to have a high net worth to have a prenup in New York.

What is a Prenup and When Should You Get a Prenup?

You should get a prenup with your spouse before marriage or living together.  When you get engaged, that is the ideal time to consult a New York prenup attorney.

A prenuptial agreement is a legal contract that protects what each spouse was able to accumulate before getting married. It also prevents disputes over when the property was acquired.

The prenup can be an act of love rather than just a contract if done correctly. Another perspective is that a prenup is a way to show each other how you care and how you love one another, and is an opportunity, in a loving way, to discuss money, finances, assets, and debts and to decide together how you will each protect your family and assets in case one spouse passes away as well as how you will provide for one another in the event of a divorce.

The agreement should state what each person owns now, how assets and debts accumulated in the future will be split in the event of death or divorce, as well as how the couple will manage their finances while they are married. And, if there are children who are already a part of the family, the prenup can also address child custody.

Love is Worth the Risk

Marriage is more than just an agreed-upon contract. Marriage signifies love and devotion for your mate, which makes the relationship worth the risk. Protect your relationship with a prenuptial agreement.

How You Can Reduce the Risk of Divorce So You Never Have to Use Your Prenup

One of the main reasons that marriages fail in New York is due to the lack of communication. Talking openly about problems, as a couple, is important for a long-lasting marriage. It is also important to communicate your needs to your spouse because they are not a mind reader.

It is also essential to balance work life and home life.  If you are spending too much time on your career, and not enough time in your marriage, it can have a negative impact on your relationship.

Sign a Post-Nuptial Agreement if You Are Already Married

Even if you did not get a prenup prior to marriage, it is not too late to protect your assets.  Post-nuptial agreements are similar to prenuptial agreements, except they are signed during the marriage.  Couples sign them where there wasn’t enough time before the wedding, or when there are changes in financial circumstances such as if one spouse is entering into a new business partnership and they want to protect their business partners and their spouse from legal ramifications of the business, as well as to clearly define the marital and separate property.

Considering a Prenup Agreement?

Contact Sabra Law Group today at (646) 472-7971 to schedule a confidential consultation and get all your prenup questions answered. 

 

 

 

 

 

 

 

Why You Should Consider a Postnuptial Agreement if You Didn’t Sign a Prenup

Postnuptial AgreementMost people are at least somewhat familiar with the idea of a prenuptial agreement. Basically, it is a contract into which prospective spouses enter before they take their vows. The agreement may cover a variety of subjects like child custody, spousal support, and the division of assets that were brought into the marriage by each party.

By contrast, a postnuptial agreement is one that is entered into after the wedding ceremony. It may cover a number of the same subjects. Why would a couple consider signing such a contract?

Here are some of the most common reasons why couples draft a postnuptial agreement.

Children from a Previous Marriage

If you, your spouse, or both of you have children from a previous marriage, then you may have definite ideas about the inheritance that you would like your child to receive in the event of your death. Without a postnup in place, your estate likely will go to your spouse, which may leave your child(ren) out in the cold. Some state divorce laws may do the same in the event that you split up without having a postnup.

One or Both Partners Was Wealthy at the Time of the Marriage

People who get married with significant assets or who expect to inherit significant assets may want to protect their interests by having a postnup drafted. The contract ensures that both partners can leave the union without losing what they brought to the marriage.

You Received a Large Inheritance

A post-marriage agreement protects any sizable inheritance that you have received or may receive from a family member. Typically, any assets that come to you while you're married will be considered community or marital property in the event of a split unless you are careful and specific precautions are taken. A postnup agreement ensures that you keep your inheritance.

You're an Entrepreneur with a Profitable Business

If your business is really taking off, then you want to protect it. A postnup ensures that what you worked so hard to earn remains yours.

The Idea of a Prenup was Too Awkward

Many couples are made uncomfortable by the idea of discussing the possibility of a split before they've even said, "I do." A postnup makes it possible to plan for every future eventuality when the stress and excitement of the big day are in the past.

Contact the Sabra Law Group at (646) 472-7971 to learn more about having a postnuptial agreement drafted with terms that protect you and your interests.