On their wedding day, most couples are not thinking about the possibility of a future separation or divorce. However, for some couples, it is wise to prepare for this possibility, no matter how remote it might be. To protect one or both parties’ assets during a future divorce or after the death of one spouse, a prenuptial or postnuptial agreement may be necessary.
Prenuptial Agreements versus Postnuptial Agreements
Both prenuptial agreements and postnuptial agreements are contracts forged by a couple. Likewise, both types of agreements may include provisions relating to the division of marital property, spousal support and other common divorce-related issues. However, while a prenuptial agreement is enacted before two people marry, a postnuptial agreement is made after the couple is already legally married.
About Prenuptial Agreements
Prenuptial agreements are most commonly drafted by people who either have significant assets prior to the marriage or have been married in the past. The purpose of this type of contract is to protect one or both spouses’ property and/or welfare in case of a divorce.
About Postnuptial Agreements
Postnuptial agreements are often created for one of several reasons after a marriage has occurred. In some cases, the couple decides to separate but does not want to go through the trouble of divorcing. Instead, they draft a postnuptial agreement in order to legally divide their assets. In other cases, the couple had initially decided against a pre-nuptial agreement but later decided that they want to protect their property from a possible divorce. Finally, some postnuptial agreements provide for the distribution of property after one spouse dies.
Hiring an Attorney
If you are interested in executing a prenuptial or postnuptial agreement, it’s wise to talk to an attorney with experience in this practice area. The laws can be confusing, but an attorney can ensure that your agreement meets all of the requirements for validity under the law and is enforceable in the state of New York.
The skilled Staten Island Nuptial Attorneys of Soren Law Group understand all of the nuances of this practice area, and we can help you ensure that the contract you sign accurately represents your interests. Contact our office today to discuss your needs, learn more about these contracts or schedule a consultation with our team. We look forward to your call!