Prenups, Post-nups and Separation Agreements are used to address finances and other issues concerning marital rights and obligations. As I have written in the past, prenuptial agreements are an opportunity for couples to have comprehensive discussions about each partner’s finances leading up to the wedding. Additionally, prenups provide an opportunity for the couple to navigate the financial path they would like to take during the marriage. Similarly, post-nuptial agreements afford couples the opportunity to have conversations about finances during the marriage. If a couple is contemplating divorce and has not executed a pre or post-nuptial agreement, a Separation Agreement can be negotiated. A Separation Agreement is a very detailed written contract that you and your spouse voluntarily sign without involving the court. It addresses all of the financial and other issues of the marriage. Continue Reading
Articles Tagged with postnuptial agreement
Prenups in New York: The Basic Facts
A prenuptial agreement is a written contract between two people that is entered into before marriage and takes effect upon marriage. This document has become more popular as couples realize the importance of clarifying expectations and setting a good foundation for communication about finances (and other issues) before the marriage.
Each couple has a unique set of goals and issues to be addressed and the prenup can be specifically tailored with that in mind. Without a prenup, state laws dictate who owns the property acquired during the marriage as well as what happens upon the dissolution of the marriage.
Why get a Prenup? Continue Reading
Postnup Blues: Make Sure Your Postnuptial Agreement Is Enforceable
A postnuptial agreement (“postnup”) is an agreement entered into by a couple after marriage. The agreement can cover a range of topics from lifestyle issues to the couple’s wishes if they choose to divorce. A postnup, like a prenup, is designed to protect the marriage and provide the couple with security. Because it is a legally binding agreement, a postnup must conform to certain requirements based on the state in which it is enforced. While couples often choose to work with an attorney to execute a postnup, some couples try to do it on their own. This was the case in the recent Ballesteros decision. Continue Reading