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.
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.