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Tips for Creating a Prenuptial Agreement in New York

Tips for Creating a Prenuptial Agreement in New York

prenuptial agreement is a contract between you and your spouse-to-be that is established before you get married. It sets forth the rights, obligations, and responsibilities of each of you during the marriage and what will happen in the event one of you dies or files for a divorce. A prenuptial agreement typically includes details such as how to divide money and property in the event of a divorce. As these types of agreements are set in place to protect both you and your spouse for the future, it is advisable to ensure you understand what they entail. Today, we go over various tips to help you create a prenuptial agreement.  

Consult with a lawyer beforehand  

The best piece of advice we can give you is to consult with a seasoned attorney before attempting to craft a prenuptial agreement on your own. You want to ensure your rights and interests are protected. You will also want to make sure that the agreement is both legal and enforceable.  

Practice open and honest communication with your future spouse 

While it is never easy to talk to your future spouse about a prenup, you can do your best to be as honest and compassionate as possible. Tell your partner why you want to establish a prenup and the benefits of doing so. As a prenup can cover much more than what happens if you both need to get divorced, it is important to draw attention to this factor as well.  

Also, when generating the prenup, be sure to be open about what you are and are not comfortable doing. Do not agree to something just because your partner wants it. Practice being open and honest with yourself and your needs during this time as well.  

Ensure your prenuptial agreement is valid 

You want to make sure your prenuptial agreement can be enforced so you and your spouse’s futures will be protected.  

Define separate property  

The property and assets you acquire before you are married are known as separate property. If you would like to keep this property in the event of a divorce, you will need to state so in your prenup. A prenup should identify which property is separate property for you and for your spouse. If you do not define this in your prenup, then in the event of a divorce, the property may be considered marital property, and thus subject to division.  

Define marital property  

If there is any property you may want your spouse to inherit in the event of a divorce or your death, you should establish this as marital property in your prenup.  

Determine spousal support  

You can establish how much spousal support would be appropriate in the event of a divorce in a prenup; however, the law requires this to be fair and reasonable at the time of enforcement and at the time it is crafted, otherwise it cannot be enforced. This is common for couples where one spouse puts their career on pause to raise the children.  

Decide if you want to take on your spouse’s debt or not 

You can include in your prenup that you will not take on any of your spouse’s debts.  

Consider what you would like your spouse to inherit in the event of your death  

You can also clearly define what property and assets you would like your spouse to have in the event of your death.  

If you need help creating a valid prenuptial agreement, our experienced lawyers can provide you with assistance. Contact us online or call us at (914) 873-4410 to schedule an appointment.