Prenuptial and Post-Nuptial Agreements
Marriage is a wonderful thing that can be the best thing that happens to you. Prenuptial and post-nuptial agreements might feel like you are dooming this wonderful thing to fail, but it really just acts as insurance in the unlikely case of a divorce.
No one who gets married expects to get divorced, yet given the divorce rate and current economy, many couples seek prenuptial and post-nuptial agreements. These aren’t the most romantic topics for fiancé(e)s and spouses to discuss, but both are commonsense protections of what you love.
Prenuptial and Post-Nuptial Agreements | What is a prenuptial agreement?
A prenuptial agreement, or prenup, is an agreement made prior to marriage that establishes the property of each party and how it will be divided in the event of a divorce. Hiring an attorney before creating a prenup is important because a poorly written or prepared document can be challenged in a court of law.
Some of the benefits of a prenuptial agreement include:
- Establishing Separate Property: One of the primary functions of a prenuptial agreement is to establish certain property as separate property — meaning it cannot be distributed in the event of a divorce in New York.
- Protecting Beneficiaries: A prenuptial agreement can ensure that your property goes to your children or intended recipient after your death or divorce.
- Clarifying Responsibilities: Prenuptial agreements are also useful in establishing the marital roles and responsibilities of each spouse.
Prenuptial and Post-Nuptial Agreements | What is a post-nuptial agreement?
A post-nuptial agreement is similar to a prenuptial agreement. The difference between them is that a post-nuptial agreement is created after you are married, rather than prior to the marriage. Common reasons for wanting to draft a post-nuptial agreement include establishing separate property or protecting your assets.
If you need help sorting out prenuptial and post-nuptial agreements, please call our experienced Buffalo divorce lawyer Randy Gugino today for a free consultation. Randy has more than 30 years of experience serving the community of Buffalo.