For many couples engaged to be married, finances are an important issue to address. This is especially common among couples with divergent financial situations. To avoid unnecessary conflict, many couples work with a dedicated attorney to draft prenuptial agreements.
Executing a prenuptial agreement does not mean you are planning for failure. Rather, it is a reasonable and level-headed approach to marriage that ensures that both spouses are protected, and all expectations are met. Let a Manhattan prenuptial agreements lawyer help you avoid uncertainty in the future by drafting a document to address any potential issues before your marriage.
There is a misconception that prenuptial agreements are exclusively for wealthy families. The reality is that a prenup could make sense for a wide range of prospective married couples. After all, securing one’s future is always a good idea, regardless of financial situation.
There are different issues that could be addressed with the help of a prenuptial agreements lawyer at our Manhattan office. Prenups often contain an agreement on how marital property is to be divided upon divorce. These agreements could also set out which property is considered marital and which is exempt from division by the courts.
Prenuptial agreements also frequently deal with questions of alimony. Alimony, or spousal support, is a financial payment made each month to a former spouse. A prenuptial agreement could fix the amount of alimony to be paid or even determine whether alimony is necessary or not in the event of a divorce.
There are many factors in a marriage or divorce that may be determined by a prenuptial agreement. However, it is important to note that issues regarding child custody or visitation are not on that list. While spouses have the right to enter into contractual agreements over income or valuable property, they do not have the absolute right to make custody or visitation decisions for their children. This is because state law requires the courts to determine custody and visitation based on a child’s best interest. In other words, the court has the final say on how to address issues of custody, visitation, and child support.
While state law recognizes prenuptial agreements, there are certain circumstances that could result in these agreements being rejected by the courts. Some objections are on technical grounds, including whether the agreement was properly signed or notarized.
Signing an agreement is not enough to make it legally binding. It is possible to overturn a prenuptial agreement if a person does not sign the agreement voluntarily. Any signature obtained through fraud or coercion is grounds for a rejection of the contract.
Each spouse must also have full knowledge of the other’s finances. When an individual hides assets or is untruthful about the amount of debt they hold, the other spouse cannot enter into the agreement fully understanding what is at stake. A skilled local attorney could advise on whether a prenuptial agreement is unconscionable or not.
Before you get married, it could be worth your time to consider a prenuptial agreement. This is especially true if you own a closely held business, or if there is a large wealth disparity with your future spouse.
A prenuptial agreement can set expectations for the future and help avoid difficult conflict upon divorce. Call a Manhattan prenuptial agreements lawyer today to get started and discuss your situation.