Manhattan, New York Prenuptial Agreements
Many people wonder why anyone who is about to get married would think about what would happen if they got divorced. They may assume what’s mine is yours and what’s yours is mine. However, this is not exactly the law in New York. Our lawyers at Berkman Bottger Newman & Rodd, LLP have experience drafting and negotiating prenuptial agreements, and have helped clients decide whether a prenuptial agreement is right for them.
Why are prenuptial agreements becoming more popular?
A prenuptial agreement, also called a premarital agreement or contract, is a contract that allows a couple to decide what will become property of the marriage and what will remain each person’s separate property. It typically lists the property owned by each person as well as their debts, and specifies what each person’s property rights will be after marriage.
Prenuptial agreements are becoming more popular for a number of reasons. More people are getting married later in life, and this means that they have likely acquired more assets and debt before getting married. In addition, more people have children from prior relationships when they get married. Prenuptial contracts allow couples to negotiate these often-tricky situations beforehand.
When a prenuptial agreement might be a good idea
Prenuptial agreements are not just for wealthy people who want to protect their assets. Anyone getting married can have separate property and sometimes there are good reasons to keep it that way:
- If one spouse brings much greater financial assets and property into the marriage than the other
- If one spouse gives up a well-paying job or career in order to stay at home with children or to follow the other spouse to a new geographic location
- If one spouse is part of a family business
- If one spouse or both spouses have children from prior marriages
- If the spouses have different investment and retirement goals due to age disparity or philosophical reasons.
Money problems are one of the primary causes of divorce in New York. Discussing each person’s assets and debts ahead of time can prevent disputes from occurring later on.
Skilled, Experienced and Effective Matrimonial and Divorce Attorneys in Manhattan, New York
If you want to head off financial problems before you get married or want to keep some property separate from the marriage, a prenuptial agreement is a good place to start. Our knowledgeable prenuptial agreement attorneys can draft an agreement tailored to your needs. Contact Berkman Bottger Newman & Rodd, LLP at 212-867-9123 or online.