Meth Law Offices Helps Couples Safeguard Their Individual Rights and Interests
Many couples use prenuptial agreements to safeguard their interests and have found such contracts to be practical and mutually beneficial. A well-drafted agreement clarifies a couple’s financial situation so neither side will wonder how financial matters will be handled if the marriage ends. When you know exactly where you stand, you can enter marriage with your eyes wide open and reduce the likelihood of relationship breakdown and costly litigation in the future. Regardless of the size or complexity of your potential marital estate, Meth Law Offices, PC provides personal attention, pertinent advice, and skilled legal services. Call today for a free consultation.
HOW DO PRENUPTIAL AGREEMENTS WORK IN NEW YORK?
To be enforceable, a prenuptial agreement must be in writing and signed by both parties. Each party must sign voluntarily with full knowledge and without any indication of coercion. Any hint of fraud or duress could cause a court to invalidate the agreement. A court will also consider whether the agreement was “unconscionable” at the time of formation, meaning that it was so one-sided a judge could not enforce it in good conscience. Meth Law Offices, PC helps clients fully understand and agree on the terms of their agreements before either party signs. Marital agreements are flexible documents and can be drafted to meet your individual needs. This is one reason why an experienced family lawyer who is committed to protecting your rights is necessary.
WHAT IS INCLUDED IN A PRENUPTIAL AGREEMENT IN NEW YORK?
A prenuptial agreement controls how various matters should be treated in the event of a divorce, such as:
Which assets and debts are to be designated as separate property, rather than part of the divisible marital estate
How marital property should be divided
Whether alimony shall be paid and how much
Parties can negotiate terms relating to custody and child support, but the court has the discretion to disregard such agreements if they are not in the child’s best interests.
WHAT ARE THE POTENTIAL PROS AND CONS OF ESTABLISHING A PRENUPTIAL AGREEMENT?
The best argument in favor of a prenuptial agreement is that it gives you greater control over your future. If you decide to dissolve your marriage, you can do so on your terms and have minimized your risk of an adverse ruling from the court. A prenuptial agreement can also save you significantly on fees you would pay a lawyer in the event of a contested divorce.
Even if you never get a divorce, the process of drafting your marital contract promotes honest communication with your partner about finances and other key considerations as you look to build a solid foundation for a successful marriage.
The argument against prenups is that they create hurt feelings and raise suspicions that at least one partner is not fully committed to the marriage. Yet, given the high rate of divorce in our society, more couples have come to view prenups as practical tools that provide real safeguards.
IS CREATING A MARITAL AGREEMENT BENEFICIAL EVEN IF I AM ALREADY MARRIED?
Married couples can execute postnuptial agreements, which must follow the same rules of formation as prenuptial documents. The difference is that with a prenup, going through with the wedding is sufficient consideration to make the contract binding. A postnuptial agreement requires some exchange of consideration, other than an agreement to remain married, to make the contract enforceable.
Contact Meth Law Offices, PC today to discuss all your options and come to a mutual solution.