New York Prenup Attorney Explains Four Times When You Need a Prenup
New York Prenup Attorney Explains Four Times When You Need a Prenup
While any couple can consider using a prenup, a New York prenup attorney can explain the importance of using this mechanism in certain situations. A prenuptial agreement can help protect a spouse from losing certain assets in the event of divorce. Additionally, it can establish new rules that override the state’s rules regarding property division. A few situations when a New York prenup attorney may recommend one include:
You Own Your Own Business
In particular, if you have spent a significant portion of your life establishing and building up a business, signing a prenuptial agreement can be a prudent decision. A prenuptial agreement can protect business assets and prevent the spouse from acquiring a business interest which he or she did not help build. And, in the event that you have business partners or investors who want their interests protected as well and whose interests may be impacted by your marriage, a prenuptial agreement can do that for you.
It Is a Subsequent Marriage
When a person has been married before and had children, a prenuptial agreement is a good idea to protect the children of former relationships. A prenuptial agreement can state how the spouses’ assets will be divided at death or upon divorce and in doing so, if in the event there is a future breakup, the prenuptial agreement will significantly reduce the cost of divorce since those issues will already be addressed.
You Are Planning to Come into Money
Individuals who expect to come into money shortly after their marriage may wish to protect these new funds through the establishment of a prenuptial agreement. For example, a professional athlete on the verge of a large contract or someone who expects a large inheritance or gift from a relative may wish to ensure that these funds stay separate and avoid comingling them with marital funds.
You Have Disparate Incomes
Individuals who have vastly disparate incomes are usually at the most risk of being required to pay spousal support and of a more sizable degree. A prenuptial agreement can establish a limit of spousal support or other assets that the lower earner will be entitled to in the event of a divorce. However, precautions must be taken in order to ensure that a court does not find such an agreement to be patently unfair to avoid having a court toss it out.
You can learn more about prenuptial agreements and their benefits in the chapter that attorney Sabra Sasson wrote in the book Onward and Upward: Guide for Getting Through New York Divorce & Family Law Issues a copy of which can be purchased here. Also be sure to apply this discount code Y38YZ5EX to get 10% off the purchase price.
And to speak with an attorney, contact Sabra Law Group, PLLC and dial 646-472-7971 now.
