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.
Jacqueline Newman joined Berkman Bottger Newman & Schein LLP in 1998 and is now the managing partner of the firm. Ms. Newman’s practice consists of litigation, collaborative law and mediation. She specializes in complex high net worth matrimonial cases and also in negotiating prenuptial agreements. Read more about Jacqueline Newman.