Important Things To Know About Prenuptial Agreements In Long Island

It was once thought that prenuptial agreements were reserved for celebrities, or the very wealthy. Truthfully, though, this was never the case. Anyone who owns real estate, a vehicle, or even a bank account should consider drafting a prenuptial agreement before they tie the knot. Prenuptial agreements are legal documents that mainly outline the financial issues that arise during divorce. A prenuptial agreement can include provisions for how property is to be divided, and whether one spouse will receive alimony in the event the marriage ends.

Drafting a prenuptial agreement requires a great deal of thought and consideration.  Below, our Long Island prenuptial agreements lawyer outlines the most important things you need to know about these contracts.

Prenuptial Agreements are Becoming More Popular 

A recent study has shown that almost 40 percent of couples who are engaged or married under the age of 34 years old drafted a prenuptial agreement. That statistic includes people from many different professional and financial backgrounds. If you are getting married and are considering asking for a prenup, it is important to remember that many other couples think of this step as being a perfectly natural part of the marriage process.

Certain Factors Affect Whether a Prenup is Legally Binding 

When a prenuptial agreement is in place and the couple gets divorced, it is not uncommon for one party to challenge the contract. There are many ways to ensure that your prenup is considered enforceable and legally binding by the courts. These include:

• You must remain completely honest with your future spouse about your financial situation.
• You must provide full disclosure about not only your assets, but also your liabilities, such as student loan debt.
• You should discuss how you and your spouse will purchase future assets.
• You should determine with your future spouse how assets will be divided in the event you get divorced.
• Outline the separate property you owned prior to the marriage, as well as what property will be classified as separate even if it is obtained during the marriage.

Provisions Regarding Children

 Remember that prenuptial agreements mainly focus on financial matters and your rights. You cannot include provisions regarding child custody or child support. This is because these terms impact a child’s rights and parents do not have any right to waive them or determine how they will be enforced. If you include provisions regarding child custody or child support, a family law judge may deem that portion of the agreement void, or they may invalidate the entire contract, depending on the language contained within it.

Our Prenuptial Agreements Lawyer in Long Island Can Protect Your Rights 

It is easy to think that nothing can shake the love between you and your future spouse, but things do happen. At the Law Office of Joshua Adam Kittenplan, P.C., our Long Island prenuptial agreements lawyer can make sure your rights are protected in the event that the worst happens and your marriage comes to an end. Call or text us today at 631-499-0606 or reach out to us online to schedule a free consultation and to learn more about how we can help with your case.

Sources:

newyorker.com/news/us-journal/prenups-arent-just-for-rich-people-anymore

nycbar.org/get-legal-help/article/family-law/marital-agreements/prenuptial-agreements/