Wedding planning is mainly focused on the party aspect of marriage, but many couples often think about things past the day they say their “I dos.” Marriage is a contract and having an agreement in place regarding the possible end of said contract is important to many couples. Prenuptial agreements can offer much protection if you and your spouse part ways in the future.
While we do not go into marriage expecting it to end in divorce, planning for all possible scenarios is proactive. Our Rochester divorce attorney Michelle Cimino can help you create a prenup. Give our office a call today to request a consultation.
What Are Prenuptial Agreements?
Just as marriage is a contract between two people, so is a prenuptial agreement. The difference is that one contract establishes the union between two adults, and the other establishes what happens in the event of separation, either through death or divorce.
You and your spouse can create a prenuptial agreement before getting married to establish protection of your separate assets and property. As soon as you are wed, the agreement is set in motion.
Both spouses must sign the agreement, which must be notarized to be accepted in court. Oral contracts are not accepted.
Who Needs a Prenuptial Agreement?
Prenuptial agreements are not exclusively used by wealthy couples, and they can be custom-made for each couple.
An example of a couple who might be considering a prenuptial agreement is a single parent who is about to remarry but wants to protect their personal finances or their child’s inheritance.
Conversely, an individual with wealth may wish to create a prenuptial agreement to protect their money for tax purposes.
Engaged couples may want to keep their businesses as separate assets, control how their property is divided, determine what happens to their property upon their death or divorce, etc.
Regardless of why you want a prenuptial agreement, a skilled attorney can be tailor-made to your circumstances. Having a contract in place essentially makes a potential divorce much smoother.
What the Agreement Covers
As mentioned, prenuptial agreements make divorce more manageable because they cover factors you would otherwise need to address for the first time during a divorce trial.
Your agreement can include details on:
- How you want to handle separate property
- Distribution of assets or debts
- How each spouse will receive benefits from life insurance
- What rights each spouse has to property management (selling, buying, leasing, etc.)
- What rights each spouse has to a family business
- Anything issue you and your spouse want to address
Remember, every couple can tailor their agreement to include or exclude subjects as they see fit. However, some topics that cannot be included in a prenuptial agreement include issues regarding crimes such as domestic abuse.
How Prenuptial Agreements Are Enforced
Your prenuptial agreement is a legally binding document that can be enforced by New York State family court. However, the laws surrounding prenuptial agreements in NYS can be complicated, so we suggest reaching out to a Rochester divorce lawyer to discuss how your agreement will be enforced.
The following are reasons why a prenuptial agreement would be invalid and unable to be enforced:
- One signee was under the age of 18
- The agreement was not in writing
- The agreement was not notarized
- The agreement was signed under duress
- One spouse was defrauded on the agreement
- The agreement was not signed until after the marriage
Attorney Michelle Cimino can answer any questions during a consultation!
Call Our Rochester Divorce Lawyer Today
Prenuptial agreements are essential to many couples before they tie the knot. If you would like to meet with our Rochester divorce lawyer for a consultation, please don’t hesitate to call us. You can discuss what you would like included in your prenup and get your questions answered by attorney Michelle Cimino.
We look forward to taking your call.