Our firm concentrates its practice on divorce and family law — the business of helping clients move through domestic transition successfully. Part of our legal practice is recognizing and supporting the unique needs of our clients through well-crafted agreements — whether drafting a prenuptial agreement or a divorce agreement.
A recent New York Times article discusses the many faces of relationship — from traditional marriage to second marriages to people who choose to cohabitate without marriage. From a legal standpoint, any of these arrangements are appropriate territory for a property agreement. Many couples use prenuptial agreements for first-time marriages, and the benefits of marital agreements are just as valuable in successive relationships. Consider these points:
- If considering remarriage or cohabitation, an inventory of separate property for each couple is important. This might include personal and real property, along with business and other assets.
- Protection of assets is essential in a second marriage. Living longer means a greater need to review and understand your long-term financial needs and explore ways to protect your economic stability as well as the financial inheritance of your children. Remarriage without a prenuptial agreement leaves an estate open to equitable division of assets unless protected by agreement.
- To remain valid, a prenuptial agreement requires good faith disclosure of property subject to the agreement, execution by both parties and legal counsel for each party. .
Recognizing the rights and property of each partner is important before and during marriage. When you need help making sound agreements, contact us for sound legal advice.