Prenup Attorney

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.

Why You Might Want to Consider a Prenuptial Agreement if You’re Getting Remarried

Everyone deserves to find love and be happy! If you are lucky enough to find the love of your life after previously being divorced, you should be open to getting remarried but you might be more cognizant of protecting your assets and your future.

Maybe you didn’t have or consider a prenup agreement the first time around and your marriage ended; was it a smooth divorce or was there conflict over assets and finances?

Consider a Prenup Agreement as Your “Just in Case Insurance Policy”

When people get married, they obviously want and envision a happily ever after, but it does not always work out that way. Some fairy tales end in a long-winded, expensive court battle. This can be avoided with a prenuptial agreement. A prenup agreement is like an “insurance policy” it's a just-in-case if things don’t go as planned.

What is a Prenuptial Agreement?

A prenup is an agreement between two people who are getting married that defines what property is marital and what property is considered premarital, or off-limits, in the event of a breakup. A prenuptial agreement is similar to a partnership agreement when two people decide to go into business together. The prenuptial agreement can also protect the assets of both parties from property settlement claims from the other person if they end up divorcing.

Reasons to Consider a Prenuptial Agreement

The advantage of having a prenup agreement is that there is a clear course of action regarding how property, assets, debts, and even pets will be handled if the marriage were to end.

It is also a good idea to consider a prenup if one spouse makes a lot more money than the other, or it is anticipated there may be a future inheritance that you want to protect.

Statistics have shown that the divorce rate for second and third marriages is around 60% to 70% versus 45% to 50% for first-time married couples (source: United States Census Bureau); therefore, a prenuptial agreement may not be a bad idea.

Even if you're not sure if a prenup is right for your relationship it is important to sit down prior to marriage and discuss finances and how matters will be handled during the marriage, as well as consideration in the event the marriage were to end. It is critical to have a clear understanding of what the expectations are of each spouse.

Another advantage of having a prenup agreement is that it can give each person in the relationship a sense of security before “tying the knot.”

A prenup may also be a good idea if there is a huge age gap between each partner. If one partner is a lot older, the younger partner needs to consider what will happen to them and their well-being if their partner were to pass away and how they would be taken care of. That consideration is true even if the couple decides not to enter into a prenuptial agreement.

One Important Consideration

The subject of having a prenup agreement must be discussed between both parties and they both must agree to sign a prenup; otherwise, there can be tension in the relationship.

Consider a Prenup Agreement if You Are Getting Remarried

Contact Sabra Law Group to learn if a prenup agreement is right for your remarriage. Call today 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.

Are People Still Dating, Getting Engaged and Married During the Pandemic?

Finding love during the pandemic may be difficult but it is not impossible. The pandemic has given people plenty of time to really reflect on their life and reassess what is really important. It has also forced couples who were quarantined together to realize that they do want to marry their partner.

The loneliness of being quarantined for months and months has made many people realize that they do want someone they love to spend the rest of their life with. For people who may have not considered marriage or being in a long-term relationship, the pandemic may have swayed them to explore the possibility of being in a long-term relationship or a marriage. Many people are realizing that they do not want to grow old alone or face another pandemic alone.

Couples that come to the realization that they truly belong together are still engaged during the pandemic. When it comes to setting the wedding date, some engaged couples may opt to set a wedding date further out than they normally would have. The reason for this is that social distancing the restriction of large events makes it difficult to have a wedding with all of your friends and family present. Some couples are also delaying their wedding date altogether to be after the pandemic is either over or is a bit more controlled.

Remember that Love is Still Alive

For those that are single during the pandemic, finding love may be one of the most important things on their to-do list. If you are single and looking; remember that love is still alive. It may just be a little more difficult to navigate through. While some people have put dating on the backburner due to the pandemic, others are continuing on their quest to find the love of their life. The human need for love remains high, especially during a pandemic when loneliness is quite common.

If you are looking for love during the pandemic, keep in mind that it may be easier to find and date someone locally versus someone who lives in another state. Travel restrictions and the fear of contracting the COVID-19 virus during travel can make a long-distance relationship a bit more difficult right now. Zoom is also a great way to date virtually until you are more comfortable meeting in person.

Don’t Forget to Protect Your Assets if You Are Getting Engaged or Married

If you are getting engaged or married and want to learn how to best protect your assets, contact Sabra Law Group at 646-472-7971 for a confidential consultation.

Important Considerations When Buying a Property with Your Significant Other in Manhattan

Buying a property with your significant other can be an extremely stressful proposition. Yes, it can make it easier to live together, and doing it right can ensure that both of your financial assets and rights are protected. However, there are a few things you should do in order to make sure that both of you have your wallets protected. Follow the tips below on how to buy a property with your significant other.

First, when it comes to buying a property with your significant other, there are a few considerations to keep in mind. First: Are you married? This makes a big difference. If you are married, and both of your names are on the title, it increases the chance of coming to a more reasonable, 50/50 settlement. Indeed, when it comes to sheer equanimity, putting both of your names on the title is probably the simplest thing to do. It also makes life easier if one of you were to die.

In the event of a divorce or separation, things can get more complicated. If there is a prenup, your life will become easier – at least from a legal perspective. The prenup should unquestionably address the disposition of any assets, including property. Barring a prenup, a few items will likely be brought into account in the event of a separation. This includes total income and contribution to house payments and if the property was owned by one party before the marriage.

If you are not married and purchasing property together, how to buy a property with your significant other can get a lot more complicated. First, talk with your partner, and make sure you are clear on who will pay for what. This includes all shared expenses, such as a mortgage, taxes, and insurance. Furthermore, there will be other repairs that you want to make sure you are clear on, including repairs, maintenance, groceries, and utilities. The best thing you can do is communicate with your partner ahead of time. In the interest of protecting yourself, you may consider drawing up paperwork that will deal with how the asset will be disposed of if the relationship ends.

Whether you are married or unmarried, you may be interested in getting clear about how your assets may be divided in the event of a breakup. We can help you understand the laws relating to the disposition of joint assets and making sure your finances are protected in the event of a breakup, call Sabra Law Group today at 646-472-7971.

We can also help get you to determine if a prenuptial agreement is right for you and your partner. Or, if you are going through a divorce of any level of contention, you would benefit from using our long-term experience in divorce and mediation. Don't wait – call today at 646-472-7971, and make sure your future is protected.

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

Most 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.

How to Negotiate a Prenup Like a Pro

It sometimes happens shortly after an engagement. In fact, that's the best time for one partner to suggest that they discuss the idea of a prenup.

Why is it critical to talk about signing a prenup soon after the engagement? It gives the couple time to get used to the idea as well as providing an opportunity to calmly, rationally discuss the possibilities. This may be crucial if one partner is reluctant to sign a prenuptial agreement.

Starting early also provides the couple with more of a chance to negotiate a prenup like a pro. They'll have time to consider all of the paths that the future might take, and that gives them an opportunity to protect themselves, each other and their future children.

It's also wise for couples to hire their own attorney when they are drafting a prenup. An experienced lawyer knows how to structure a prenuptial agreement so that it's legally enforceable. Moreover, the attorneys can help the couple decide exactly what should and should not be included in the agreement. Consider interviewing more than one attorney so that you each find the legal professional with whom you feel comfortable working.

Negotiations for your prenup will be smoother if each partner strives to see the viewpoint of the other and to understand what is most important to them. The best prenups, and the best negotiation processes, happen when both parties feel that their concerns have been heard and addressed. Accordingly, it makes sense to enter the process with an open mind and with a focus on your partner's needs.

The process of drafting a prenuptial agreement also goes better when both partners are equally involved. While you both may verbally agree on the major tenets, it's sensible to keep each partner fully involved at every step of the way. Some couples agree to meet in a 4-way meeting together with each of their respective counsel. This way they all get on the same page and hash out and any disagreeable terms before the agreement is drafted.

Couples also are encouraged to be open to including a mediation clause in their prenuptial agreement. In the event that the couple separates and contemplates a divorce, a mediation is a low-conflict, more amicable means for the former partners to go their separate ways.

If you and your soon-to-be spouse want to learn more about how to constructively negotiate a prenup, then give the Sabra Law Group a call at (646) 472-7971.

Things to Consider Before Rushing Into a New York Remote Marriage Ceremony

On April 19, Governor Andrew Cuomo announced the issuance of an executive order that allows marriage services to be conducted by clerks via video conference.

That's good news for couples who are anxious to begin their new life together, despite the pandemic. However, it does not necessarily follow that it's wise to jump into getting married remotely in New York.

It's still smart to think about all of the ways that marriage may change your lives. For instance, consider both of your career goals. Will your job or your future spouse's job someday force you to move to another city or another state? If so, is that a move that the other partner is willing to make?

For many couples, it similarly is critical to know and understand each other's finances. That means disclosing things like how much credit card and student loan debt each of you has. Moreover, you'll want to share any financial obligations that you have to a former spouse or a child from a previous relationship.

Talking about assets is just as important. To guide your financial conversation, consider entering into a prenuptial agreement before getting married remotely in New York.

Prenups may be short, simple, and straightforward or longer and more complex depending upon the couple's wishes and their financial situation. With a prenuptial agreement, it's possible to define that each partner will keep the debt that came into the relationship with them and that certain family heirlooms will remain the property of the spouse who brought it to the marriage. It's even possible to discuss potential spousal support terms.

Too many couples get married without knowing much about each other's finances. Having a prenuptial agreement drafted ensures that you're both aware of each other's financial standing. It also leads to helpful discussions regarding how you both approach money matters.

It may not seem romantic to pause to discuss a prenuptial agreement before getting married, but it nonetheless makes good sense. That is especially true during a time that is distinctly unsettled and unfamiliar. Most people's day-to-day lives look nothing like they usually do, and this can lead to decisions that one day may be regretted.

Recently, we drafted and negotiated the terms of a prenuptial agreement for a client who was initially planned to get married this summer – but his marriage was expedited shortly after Governor Cuomo’s announcement when his wife submitted for the opportunity to get married via video conference – and on television! So while a prenuptial agreement typically gets prepared and negotiated within 6-8 weeks, here we didn’t have the luxury of time and we got it done within 48 hours – even coordinating remote notarization of the agreement.

If you are considering getting married remotely in New York, then contact the Sabra Law Group at 646-472-7971. Having a prenup drafted by the Sabra Law Group is the common sense approach to getting married in these unprecedented times. Call or click here to schedule a time to speak with someone in our office.

How Prenups Can Be Quite Revealing About Your Future Mate

Some people are shocked when their intended spouse suggests that they enter into a prenuptial agreement. They may think that the only people who get prenups are the ones who don't have much faith in their relationship.

The reverse typically is true. People have many reasons for wanting a prenup, but these often boil down to wanting to protect themselves and their partner. Prenups protect both parties because they are thoughtful, fair and carefully considered. They settle potentially acrimonious questions long before they might arise, and they also teach you a great deal about your chosen partner.

Drafting a prenuptial agreement requires that both parties participate in an in-depth discussion of their personal finances and ideas and goals for their future. This may sound surprising, but many couples don't have any critical discussions about finances before they marry. After the ceremony, one or both may receive unpleasant shocks as they slowly learn about each other's financial reality and the way they interact with money.

Negotiating the terms of a prenup will have both parties revealing their debts and assets. Did you know that your partner has more than $30,000 in student loan debt? Does your partner know that you had massive medical bills that went to collections three years ago? What about family heirlooms? Do you or your future spouse have a valuable possession that needs to be safeguarded in the event of a separation? Did you know that your partner wants to relocate to another state or another country in the next year or two? Or after a child is born?

All of these things and more are likely to come up as you discuss the terms of your prenup. Additional items that may be included in such an agreement may relate to any children you have and your outlook on future earnings. Did you know that your future spouse expects to be a stay-at-home parent? How might that affect your family's financial outlook, especially in the event of a divorce? Do you want to make special provisions for spousal support or child support?

What are each of your intentions regarding the transfer of assets upon death? Do either of you intend to keep your assets in your family, giving it to siblings and other relatives, rather than to your spouse? How will you each provide for each other in the event of premature death? How would that impact where you live and the ability of the survivor of you to continue to reside in the marital residence in the event that the other is no longer able to contribute financially to the household?

Admittedly, all of these financial and family-related topics can be extremely sensitive. Rather than seeing this as just a stressful exercise, think of it as a gift. This is an opportunity for the two of you to get out in the open your most fundamental beliefs and expectations regarding family and money, and you're doing it before you get married.

This means you have a chance to see where you're on the same page, and where compromise is required. To learn more, contact the Sabra Law Group at (646) 472-7971.

Why Prenups Are The Norm for Millennials

The stories have been in the media lately. Millennials are requesting prenups before tying the knot in record numbers.

Why is this younger generation much more open to the idea of prenups? Several factors may be at play.

According to the American Academy of Matrimonial Lawyers, a full 62 percent of attorneys have noticed that more of their clients are asking for prenuptial agreements within the last three years.

One of the main reasons behind this increase is that this generation is tending to wait until later in life to get married. This may mean that they have more assets to protect.

Putting off marriage gives them a chance to focus on their careers. This means that they have a chance to build up their 401(k) or to aggregate wealth through an employer's stock program. Perhaps they will buy some real estate.

In the event of a divorce, the spouse or spouses who have accumulated considerable assets before marriage may want to safeguard those assets for themselves.

However, this is just one more reason why it makes sense to have a prenuptial agreement in place. Such an agreement can protect a spouse from having to assume responsibility for a sizable debt that doesn't really belong to them in the event that they get a divorce.

Frequently, this age group also is deferring marriage because of its financial obligations. With student loan debt at record highs, millennials may be reluctant to saddle a spouse with such a heavy responsibility.

Debts from credit cards or personal loans also may put a strain on a relationship. Consequently, the couple may want to specify in a prenuptial agreement that the debt belonging to one spouse or the other remains that individual's responsibility should a split occur.

Other millennials are choosing prenuptial agreements because they are themselves the children of divorce. After suffering the pain of watching their parents go through a difficult process, they may be seeking to protect themselves from a similar situation.

All of these factors combine to explain why this particular generation is beginning to see prenuptial agreements as the norm rather than the exception. It's a wise choice, one that could protect the financial and emotional future of both parties and any children they may have.

To learn more about why people are choosing prenups to protect themselves and their families, call the Sabra Law Group at (646) 472-7971. Or, if you know you are ready, call now to get started.

YES! I want the book!