Prenup Attorney

What to Do When Your Fiancée is Against a Prenup

 Against a PrenupIt's becoming more common for one partner in a romantic relationship to ask for a prenuptial agreement before saying "I do." Unfortunately, the other partner frequently is blindsided by the request. They may panic and wonder if their partner has no faith in the impending marriage.

If your prospective spouse is against a prenup, it's important that neither of you panic. Frequently, the other partner's reaction is instinctive. This may be because you recently got engaged. It's a romantic time when everything is blooming flowers and violin music. A prenup may seem pessimistic and businesslike.

If your future spouse is saying that they are against a prenup, then it's vital that you carefully and thoughtfully articulate your reasons for wanting one. Do you have assets that you want to protect? Do you have debts for which you don't want your spouse to be responsible? Perhaps there are children from prior relationships that you want to ensure are adequately provided for no matter what.

Whatever your reasons, asking for a prenup is a practical acknowledgment of the business side of marriage. It's not romantic. Nonetheless, it may provide you with a way to protect you, your spouse and any children that you may have. 

The better you can articulate your reasons for wanting a prenup, the smoother the conversation will go. If possible, ask your future spouse to visit a lawyer to talk about the pertinent laws and the options available. 

Above all, consider this an opportunity to plan for the financial future of your family. Highlight this to your prospective husband or wife, and talk about your dreams for what you want in the future. This is an excellent opportunity to discuss the business side that's an inherent part of marriage. If you and your partner can come to terms on this, then it's a good sign that future negotiations between you will be similarly successful.

As Sabra tells her prenup clients, “you are the CEOs of your marriage” and it is important that you step up to the plate and take responsibility for running the business side of marriage the way you would if you entered into a business partnership.  Like a business, you will have overhead expenses and a budget and if these are not discussed and the roles clearly identified, you could be setting yourselves up for hardship, and even, failure.  So start your married life on the right foot, by getting clear about your finances together.  After all, you are planning to be romantic partners as well as business partners for life, why not give yourselves the advantage of being one of the lifelong successful ones?

Whether your fiancée is against a prenup or not, you need reliable legal advice. Call the Sabra Law Group at (646) 472-7971 to discuss your options.

Why Having a Prenup Agreement Can Safeguard Your Future

Prenup Agreement The future is always unpredictable, which means that no one can foresee with accuracy what tomorrow holds. This uncertainty is why more couples are choosing to sign a prenup agreement before they walk down the aisle.

Perhaps this seems like a pessimistic thing to do, but it actually is eminently practical. It is a wonderfully easy way to ensure that the diamond ring that you inherited from your grandmother stays in your family. Additionally, your prenup can specify how the proceeds will be divided if the family home must be sold in the event of a divorce. 

While a prenup is used to protect current assets, it also may be possible to draft the contract so that it may safeguard future assets. Such protection is possible only if the agreement is carefully drafted. Typically, future assets will need to be defined and described in great detail. If they are not, then the contract may be invalidated by the court when one party tries to enforce it against the other.

Another way that a prenup can safeguard your future is by including details about debts. For instance, if one partner incurs a huge load of education loan debt during the marriage, it can be spelled out in the prenup that this debt will be that partner's sole responsibility in the event of a divorce. 

Similarly, the partners may want to define who will be liable for certain credit cards, loans or other debts if the marriage ends. This is simply wise planning on the part of the prospective spouses. No one wants to get saddled with a debt that does not belong to them, particularly in the wake of painful and expensive divorce proceedings. A heavy load of debt makes it difficult to move forward, and the person who incurred the debt reasonably can be expected to assume the responsibility for paying it.

Discussing how you will finance your future together before tying the knot will help to avoid conflict and allay any “surprises” in the future should either partner enter the marriage with certain preconceived expectations that may not have been discussed and addressed during your courtship. Of course, it is not possible to address every possible nuance and situation that could arise in the future, but having these tough conversations now and being clear about you and your partners’ philosophy around money can further safeguard your future together. 

In addition, prenup agreements can be used to protect future inheritances as well as family property, money or trust interests of which you may be the owner or beneficiary, and ensure it will stay in the family in the event of a future breakup or upon your death.

Prenuptial agreements not only typically contain provisions addressing what happens with property in the event of a future breakup, but they can also provide what assets are transferable to your partner upon death as well as provide adequate financial support in such event.  

Moreover, if you have children from a prior relationship, a prenup agreement is a great way to create clarity with your partner and protect your children and ensure that they are provided for as well.

And, if you or your partner have a pet, the agreement can contact provisions relating to their care and support. 

It is advisable to involve a knowledgeable attorney as soon as you decide that a prenup agreement is right for you. In order to be legally binding, it is necessary to define many highly detailed components, making the right kind of experience indispensable to the process. 

If you are still curious about your ability to safeguard future assets, contact the Sabra Law Group at (646) 472-7971. These experienced legal professionals place an emphasis on drafting a sensible prenup agreement that will protect your interests in any eventuality.

Why it is Important to Have Two Separate Attorneys When Creating a Prenup

Prenup - Separate AttorneysPrenuptial agreements are not just for wealthy individuals any longer. These days, a premarital agreement may be entered into for any number of reasons. The parents of one of the parties may insist upon a prenup, especially if they want to ensure where their own assets will be allocated after their death. Frequently, at least one of the parties to the agreement is the individual who requests it. This is likely because they want to protect assets that they acquired before getting married.

The basic concept behind a prenuptial agreement relates to the possibility of a divorce. No couple wants to think about a day when they no longer want to be together. Nonetheless, such a legal document can provide peace of mind while also leading the couple to consider and discuss issues that might not otherwise be introduced. Rather than driving a wedge between the couple, the process actually may bring them closer.

Most of the considerations that are tied up in a prenuptial agreement are financial. The terms of alimony and property division are decided in advance of the marriage. Of course, couples are free to include almost anything they like in their own agreement. The only thing that is prohibited in such contracts relates to (unborn) children. Questions of child support and custody may only be decided upon at the time of divorce. Including such items in a prenuptial agreement may invalidate portions (and in some cases the entirety) of the agreement.

It may be tempting for an engaged couple to seek the services of just one attorney for a prenuptial agreement. Nonetheless, it is almost always advisable for each partner to seek independent legal advice. This is not because the situation is adversarial or because one future spouse is trying to hide something from the other. Rather, securing independent legal counsel ensures that both parties are getting the fairest possible deal. In addition, having counsel for each of you removes any future claims of duress, claims of not understanding the agreement and lack of fairness. Commonly the courts will look to the conscionability of the agreement both at the time it is entered into and at the time it is enforced.  Having your own lawyer means that your interests are fully protected, and so are those of your future spouse.

If you have difficulty agreeing on the terms of the agreement, consider mediation in New York. This collaborative, constructive process makes for a positive experience. The outcome is a prenuptial agreement that is fair and beneficial to both parties.

If you are ready to learn more about prenuptial agreements in New York, contact the Sabra Law Group at (646) 472-7971. Their advice will ensure that you are prepared for anything that the future may hold.

 

How to Use a Prenup as a Financial Planning Tool

Financial Planning ToolIn recent years, there's been a trend toward couples marrying later in life. This means that they may come to the relationship with children or considerable debts as well as assets. 

Moreover, they may already have a budgeting style that suits them and numerous financial goals that they hope to achieve. A prenuptial agreement is an essential tool for these couples, not so much as protection against a future breakup, but as a means through which financial plans may be discussed. 

Unless you and your intended have already combined your finances (assets and debts too), you both may be in for surprises as you begin to explore each other's attitudes and approaches to money. One of you may be shocked to learn that the other does not have a budget, isn't particularly concerned about saving for retirement or has massive student loan debts and a credit score that horrifies you. It is far preferable to acknowledge and begin working on these issues prior to saying "I do" than while on the honeymoon. 

The weeks and months that lead up to a walk down the aisle offer the perfect opportunity for laying open your financial situation to each other. Have a talk about how much debt each of you has. Do you have a plan for paying it off? If so, how much of a bite does that take out of your monthly budget? 

Also, consider each other's assets. One of you may have amassed a significant retirement account while the other has virtually nothing. Is a new IRA in your soon-to-be spouse's future? If so, how will it be funded, and how much will go into it each year? 

When you begin having discussions like these, then you can use a prenup as a financial planning tool. Maybe you recognize that your huge student loan debt shouldn't be the responsibility of your partner if you should ever split. A prenup could stipulate that you'll leave with whatever remains of that debt should the marriage end. Similarly, your spouse may want to be able to protect their considerable retirement account and provide for way to recoup an inadvertent commingling of inheritance money. 

Using a prenup as a financial planning tool is a fantastic way to establish money goals as a couple. Take time to consider the lifestyle you want to lead as you discuss the financial future with your intended. 

If you'd like to know more about using a prenup as a financial planning tool, then contact Sabra Law Group at (646) 472-7971 to schedule your Discovery Session.

 

Consider a Prenup While Celebrating Love This Valentine’s Day

Prenup in New York In the heady first weeks and months of a romance, it's easy to have blind faith in love with your chosen partner. Falling in love and discussing the exciting details of your future together is a lot of fun.  It may never occur to you that someday you might need mediation in New York as you negotiate a painful divorce.  

None of this is meant to discourage you from celebrating love this Valentine's Day. On the contrary, love can be one of life's most fascinating, meaningful and rewarding journeys. It is the foundation upon which new families are built, and it has the power to utterly change your life. 

Nonetheless, life is a difficult and ever-changing process. Individuals change with it. In some cases, the two people who make a marriage are able to accommodate and adapt to the changes in the other, but this is not possible in all situations. Love can keep people together regardless of life’s ups and downs.  For others, the unromantic parts of marriage and life, in general, can sabotage and destroy what was a loving partnership.

When things begin to go wrong in a marriage or long-term partnership, things can deteriorate quickly. What used to feel like a blessed and magical union now is fraught with pain, anger, and frustration. Couples who used to agree about most things now fight over inconsequential matters, and when it comes to bigger things like assets and property, it's not unusual for both of the former partners to vow to fight to the death to see things distributed their way. 

Is there anything that couples can do today so that they can sustain a life-long and everlasting romance that withstands the tests of time?

The more authentic and upfront you are about your intentions and visions of a future together, the more likely it is to create the foundation for a lasting marriage. Even though we want to believe that “love is all you need” and “all you need is love” to have an enduring and lasting marriage, it is essential to have open and honest communication about all aspects of your marriage.  One of the vehicles that can help couples to create the right foundation for such communication is through pre-marriage meetings and consultations with clergy or other professionals.  Another vehicle is a rational, well-thought-out prenuptial agreement whereby you can talk about and discuss how you will manage your finances together.

Many couples have the misconception that by simply maintaining all of their financial accounts separately, that the other spouse cannot make any claims to it in the event the relationship doesn’t work out.

That’s why talking with an experienced prenuptial attorney in your state can help you create the right plan for you and the future family you plan to create, and it will become the blueprint making it possible to have a cleaner, less painful break -up in the future. 

Prenups can be as complex or as straightforward as the parties wish. Those with considerable assets or business interests will want to ensure that these are protected, and people who have children from prior relationships may want to guarantee that their children receive proper consideration and care regardless of what happens in the future. 

It may even be possible to include agreements to deal with one another amicably in a mediation in New York in the event the couple decides to separate. Mediation is the low-cost, less acrimonious process by which many decisions pertaining to divorce may be made. Mediation is one way to demonstrate love and respect for your entire family during a particularly difficult time so that you all may begin healing sooner. 

Consider a Prenup to Protect You, Your Partner and Your Future

If you are celebrating love this Valentine's Day by getting engaged, while your heart may be in the clouds, don't lose your head too. A sensible prenup protects you, your partner and any children that you may have. Contact the Sabra Law Group at 646-472-7971 to discover your options.

How to Bring Up a Prenup When Getting Engaged During the Holidays

Engaged During the HolidaysMany people decide that the holiday season is the ideal time to get engaged.  The particular holiday doesn’t really matter, it could be on Hanukah, Christmas, or New Year’s Eve.  What matters is how do you bring up the sensitive topic of a “Prenuptial Agreement” during the holiday season. 

 

It is to be expected that people want the holiday season to be full of joy and as stress-free as possible.  This is why the thought of bringing up a Prenup can definitely cause some anxiety. 

 

Follow the Five Steps Below to Bring Up a Prenup When Getting Engaged During the Holiday Season:

 

  1. Make a list: write down all the reasons why it makes sense to get a Prenup and why it would be beneficial to both of you.  Furthermore, on a separate piece of paper write down what objections you anticipate your fiancée may have. 
  2. Provide reassurance:  that a Prenup is not necessarily a bad thing and that it is meant to protect the financial future of both spouses.
  3. Encourage open communication:  open communication means that you encourage your partner to be honest about their feelings and that you genuinely listen to them (without judgment). 
  4. Timing is key:  It is advisable not to bring up the Prenup conversation on an actual holiday or when either of you are stressed about other matters or have had a rough day at work.  And when you do talk about it, it is a good idea to discuss this topic at a neutral place – like a coffee shop or sitting on a bench at the park, but not your home, favorite restaurant or other “special” place that has meaning for the two of you.
  5. Talking about a prenuptial agreement is always better sooner rather than later.  For instance, if you haven’t talked about it while you were dating, then talking about it now is a good time.  Explore conversations that would be “hypothetical” in nature but allow both of you to openly discuss what would happen if you ever were to split up.  Who would get the house, who would get the family pet?  Who would get the investment properties?  This process allows the both of you to start thinking about the importance of a Prenup and hopefully come to terms with the idea of developing a Prenup to protect each other’s financial well-being in the event of a future breakup. 

 

If you have questions about a Prenup agreement in New York or any other family law related matters, contact Sabra Divorce Law today to schedule a consultation at (646) 472-7971. 

Prenuptial Agreements for Same Sex Couples in New York

Prenupital Agreements for Same Sex Couples in New YorkIn 2011, same sex marriage in New York became legal. It was a happy day for many families across the state, and with the ability of same-sex couples from other states to get married in New York too, many people celebrated the legalization and took advantage of the newfound ability to become legally married. 

Gay or straight, no one gets married with a pessimistic attitude. Marriage is a happy and hopeful event, but it doesn't mean that some planning is not appropriate. A growing number of gay and lesbian couples are choosing to complete a prenuptial agreement prior to the ceremony. 

Regardless of their orientation, many couples balk at the idea of a prenuptial agreement. They are in love and committed to each other. Thinking about the possible breakdown of the relationship is difficult. Nonetheless, a prenuptial agreement can be seen as an act of love. 

A prenuptial agreement may protect one partner from the debts of the other. It also may ensure that children from prior relationships are supported and protected or that a family business can be maintained no matter what. 

Prenuptial agreements for gay and lesbian couples are much like the same agreements for straight couples. However, additional considerations may need to be taken into account if the couple lives in a state where same sex marriage is not yet legalized. This may make it difficult to have the prenuptial agreement recognized in that state. Accordingly, you would need an experienced New York prenuptial attorney to draft the agreement so that it would be enforceable regardless of where you live. 

Marriage laws in the U.S. are evolving, but they still have a way to go. Because same sex marriage is not legal at the federal level, questions of prenuptial agreements and estate planning may face additional complications. The best way to overcome these challenges is by working with an experienced attorney who has helped other same sex couples. 

The guidance and advice of an attorney may give you the peace of mind that you need as you move forward to a happy future. A well-drafted prenuptial agreement can ensure that your children are provided for, that your debts won't affect your spouse or resolve numerous other potential problems. 

If you have any questions about preuptial agreements for same sex couples in New York and any related family law matters, contact the Sabra Law Group at 646-472-7971 to schedule a consultation.

 

How Long Should You Be Engaged to Someone Before Getting Married?

prenuptial agreement in New York

There are no set time limits on how long you should date someone before getting engaged or how long you should be engaged before marriage. The one important factor to remember is that the length of time you spend with someone determines how well you get to know them. The longer you know someone, it gives you the opportunity to see them in multiple situations; good or bad.

Furthermore, it allows you to see how they handle stress, and it gives you a gauge for determining if they are being genuine with you or putting on an act.

According to The Knot Publication, an average engagement is about 14.5 months. This number indicates that the couple has enough time to plan a wedding while handling day-to-day obligations such as their work and family.

Another study conducted by Emory University in 2015, found some interesting statistics:

  • Waiting one to two years significantly drops the likelihood of divorce by 20%
  • Waiting three or more years drops the likelihood of divorce even more by 50%

It is reasonable to conclude from this study that the longer a couple dates before marriage, the higher the likelihood of a successful marriage.

While you are in the engagement stage, it is also advisable to ask your fiancée various questions that will help you determine compatibility as well as if you have common life goals.

Some Questions to Ask Each Other:

  1. Do you want kids?
  2. How many kids do you want?
  3. What city will we live in once married?
  4. What religion will the children be raised as?
  5. How will the finances be handled?
  6. Who will take care of the kids and who will be the breadwinner
  7. Will you still keep separate bank accounts or will everything become a joint account?
  8. What are your non-negotiables?
  9. Where you see yourself 5-7 years from now?
  10. Will you make time for your spouse and prioritize them or will your career/work come first?
  11. Will there be a Prenuptial Agreement?

Getting Married? Need Assistance with a Prenup?

If you are engaged or plan on getting engaged soon, you might want to consider a prenuptial agreement to protect yourself and your assets. For more information, contact Sabra Law Group today at (646) 472-7971 for a confidential consultation.

The Pro’s and Con’s of Moving in Together Before Marriage

pro's and cons of living together before marriage

 

There are so many different views on moving in together before marriage.  Some people believe it’s not a good idea to live together before marriage, whereas; others are not opposed to it.  Making a decision to move in together before marriage is just as big of a decision as making the commitment to your partner.

 

Let’s Consider Some of the Benefits of Moving in Together Before Marriage

 

  1. The shared expense for rent or perhaps no rent depending on the situation: when you’re living separately, both of you are paying rent or a mortgage.  From a financial perspective, living together makes sense.
  2. The Good, the bad, and the ugly:  when you live with someone you will really see them for who they really are.  With that comes the good, the bad, and the ugly.  So you really get to see who they really are before deciding to tie the know, and it may actually save you from getting a divorce in the future by getting out before it’s too late.
  3. You will learn if you can tolerate each other 24/7: dating is very different from living together.  You can date someone yet not know the real person.  When you’re living with someone, it is difficult to hide everything. 
  4. You can have more fun together doing everyday things such as cooking together, gardening or playing board games.

 

There Are Also Some Disadvantages of Living Together

 

  1. If they are getting everything without putting a ring on it, they may never put a ring on it.   Even if you’re already engaged prior to living together, the marriage may take longer to happen.
  2. Domestic chores take the fun out of living together.
  3. If finances are not discussed in advance, living together can cause stress and arguments over finances. On the other hand, living together may force the issue, and you can see if the two of you can work out your differences.
  4. It may lessen the excitement of getting married. The only difference in your relationship when you get married will be the rings and the marriage license.

 

There are certainly both advantages and disadvantages of living together.  The most important thing to consider is to do what feels right for you.  There is no right or wrong answer.  If you have questions regarding prenuptial agreements, or how to discuss finances (and other challenging topics) with your future spouse, contact Sabra Law Group today at (646) 472-7971.

How to Get Comfortable Talking About Money Matters with Your Future Spouse

Handle Finances during a Divorce - Money Matters

 

One of the most common reasons that marriages end in divorce is due to money or financial matters.  The more comfortable you can be at the beginning of a relationship discussing money; the better it will be for sustaining a healthy relationship. 

 

If you are uncomfortable discussing finances with your future spouse, it is best to start with baby steps.  If you are planning on getting married, finances are of primary importance to be discussed prior to marriage.

 

Below Are Some Steps You Can Take to Get Over Your Anxiety When It Comes to Discussing Finances

 

  1. Make a List:  write down all the important issues that need to be discussed and then write down what your desired outcome is.
  2. Figure Out the Living Arrangements: determine who will pay for rent or the mortgage and if living expenses will be shared equally or not.
  3. Don’t Discuss All the Finances in One Meeting: pick one aspect of finances to discuss and come to an agreement on that before moving on to the next topic.  By approaching the situation in a systematic way, it will eliminate confusion and conflict. Once you have tackled a difficult topic, set up another day to discuss the next topic. 
  4. Consult with a Financial Planner: a financial planner may be able to best guide you on how to maximize your money and grow it.  They may also be able to advise you on investment vehicles that are aligned with your comfort level.
  5. Determine if a Prenup is Necessary:  have a candid discussion prior to getting married about a Prenuptial Agreement and whether it makes sense to have one.  If you and your partner are not sure if a Prenuptial Agreement is right for you or why you would consider having one, read our blog article about that here and here and consult an experienced New York Prenup Attorney who can help you to understand whether a Prenup is appropriate for you and your partner.

 

Couples who communicate openly with each other are more likely to stay together.  This is why it is important to discuss even the most difficult topics.  Furthermore, once you have had this conversation a few times, it will become easier to have these types of conversations in the future.

 

Do You Have Questions About Money Matters or Prenuptial Agreements?  

 

Contact Sabra Law Group today for a confidential consultation at (646) 472-7971. Sabra has years of experience helping couples setting up the right type of Prenup for their lifestyle. Call her now ar 646-472-7971.