New York Prenuptial Agreement Lawyers
A prenuptial agreement could help you secure your future and protect your assets in the event of a divorce, so it's no wonder they're becoming increasingly popular. Many people don’t believe in prenuptial agreements. They think that getting one proves that you’re not fully invested in seeing your marriage stand the test of time. However, in most cases, that couldn’t be further from the truth.
A prenuptial agreement is like insurance for your marriage. Most of us hope we never have to use our auto, home, or life insurance policies, because it usually means something bad happened to us or someone we love. However, if the day comes that we must use an insurance policy, we are often grateful to have it because we’d be in a much worse position if we didn’t.
The same is true for prenuptial agreements. No one wants to consider that their marriage could end in divorce, especially before they’ve even said, “I do.” Unfortunately, as responsible adults, we must consider that possibility. You don’t want to be left out in the cold financially if your marriage ends unexpectedly. You want to have the financial means to move on with your life following a divorce, which is something that a prenuptial agreement can provide you.
If you're interested in drafting a prenuptial agreement with your soon-to-be spouse, having an attorney by your side who can help you develop an equitable, comprehensive prenup is essential. At Letterio & Haug, our Hudson Valley prenuptial agreement attorneys are here to ensure your rights and property are protected as you draft your prenup.
To schedule a consultation with our team or learn more about our prenuptial agreement services, contact us online or via phone at (845) 203-0997.
Should I Get a Prenup?
Generally, the answer is a resounding, "yes." Despite the misinformation concerning prenups, prenuptial agreements are advantageous for couples of any age or income bracket. As long as you hire legal counsel you trust to represent your best interests during the drafting phase, getting a prenup is a low-risk, high-reward investment.
What Are the Benefits of a Prenuptial Agreement?
A prenup enables you to protect both parties entering into the agreement.
The pros of a prenuptial agreement for both partners include the following:
- Establishes provisions for what happens to your property if you file for a divorce and set parameters for how to handle property throughout your marriage. For example, many couples join their bank accounts when they get married. As a result, their income (and their debts) become marital property, which means it gets divided equitably among the parties in the event of a divorce. However, you can use a prenup to specify that your assets and liabilities remain separate post-marriage. Negotiating these points ahead of time, including spousal support and property division, can save you a lot of time and money. Divorce lawyers charge by the hour, so the less time your divorce takes, the better.
- Protects your future financial stability. For example, you can specify in your prenup that any liabilities you accrue due to investments you make (or debts you bring with you into the marriage) remain yours and yours alone. That prevents your partner from taking the fall for some of those liabilities if you end up getting divorced or separated.
- Protects your business. If you are a business owner or have interests in one, you can ensure your business is included in separate property. In the event of a divorce, you won’t have to worry about losing full ownership or interest in your business. In some cases, your business associates may require you to have a prenup for this very reason.
- You both engage in open, honest communication. You and your partner will likely discuss your spending habits, future financial plans, debts, and more. While these are difficult topics to discuss, having tough conversations now can help improve your relationship and communication with one another for years down the road.
- Reduces future conflict. In the event of a divorce, you can both cut down on the emotional and financial strain often associated with dissolving a marriage. You will already have worked out most of the details involved in your divorce, which makes for less disagreements, negotiations, and the like.
In this way, many married couples find that getting a prenup actually makes their relationship stronger. Getting a prenup enables you to discuss important topics with your soon-to-be-spouse, like how you want to handle your assets and liabilities, that you may otherwise be tempted to put off.
How Our Prenup Attorneys Can Help
At Letterio & Haug, LLP, our team can work with you and your partner to:
- Draft an enforceable prenuptial agreement
- Ensure your prenup includes conditions that protect both parties
- Update the terms of your prenup as your circumstances change
- Answer any questions you have concerning your agreement
Contact Letterio & Haug, LLP online or call (845) 203-0997 to request a consultation with a prenuptial agreement attorney in New York.
What Can I Put in a New York Prenuptial Agreement?
Your New York prenuptial agreement can cover a variety of conditions, including:
- What property acquired during your marriage qualifies as separate (ineligible for distribution in the event of a divorce), and what qualifies as marital (eligible for distribution in the event of a divorce);
- How the parties can choose to utilize property during their marriage, including rights to lease, sell, or buy property;
- How the parties will handle the management and distribution of a family business (if they share one);
- How the parties will distribute marital property in the event of a divorce;
- How the spouses intend to handle alimony, including modifications for the duration and amount of alimony agreements.
What Can't My Prenup Include?
However, a prenup cannot fully dictate what happens should you file for divorce. For example, prenups cannot include terms for matters that concern child custody and support.
Matters of child custody and support must be managed by the parents or the court as part of the divorce process. Since the court will always rule in the child's best interests and those interests may vary on a case-by-case basis depending on the circumstances of the child and the divorce, prenups cannot govern how the parents handle custody or support.
Additionally, the court may rule the prenup invalid if:
- One of the parties signed the prenup under duress or due to blackmail or some similar condition;
- One of the parties omitted details concerning their finances during the drafting of the prenup;
- One of the parties was not given adequate time to evaluate the terms of the prenup;
- The court considers the prenup unconscionable, meaning the terms of the prenup are grievously unfair to one or both parties.
Many prenups are declared unconscionable, especially if the parties' circumstances have changed notably since the prenup was developed. For this reason, consistently evaluating and updating your prenup is recommended.
How to Discuss a Prenuptial Agreement With Your Partner
If you want to draft a prenuptial agreement, you might be wondering how to broach the subject with your partner.
Here are a few things to consider as you enter the conversation:
- Consider when and where to have the discussion. While you don’t need to schedule a meeting for the conversation, you shouldn’t catch your partner off guard. You should also be mindful of the headspace you are both in. If you just had a disagreement or a particularly rough day at work, the timing may be off. Considering where you talk is also important, as you likely want to speak in private.
- Think about what you will say. As we’ve discussed, prenups can help your relationship and can protect you both. Mentioning specific benefits and why you want a prenup can help to clarify things for your partner.
- Remember how much you love each other. While some people believe that prenups doom a relationship, that isn’t the case. Remind your partner how much you love them and keep your love at the forefront of your discussion.
For experienced guidance, reach out to an NY prenuptial agreement attorney at Letterio & Haug, LLP. Contact us or call (845) 203-0997 for a consultation.
The Uniform Premarital and Marital Agreements Act
Nearly a decade ago, the Uniform Commission established the Uniform Premarital and Marital Agreements Act, which is meant to help all states adopt specific laws and protections for prenuptial agreements. New York is one of the states that has not adopted the Uniform Premarital Agreement Act.
However, for a prenup to be enforceable, the courts will still expect the agreement to be:
- Fair in relation to how the terms of the agreement affect both parties
- Made when both parties are of sound mind (and not under duress or coercion)
- Signed after both parties had sufficient time to review the agreement
- Signed after both parties were adequately informed about each other’s finances when they drafted the agreement
Need Help with a Prenuptial Agreement? Discuss Your Situation with Our Prenup Attorneys in NY Today
Our prenuptial agreement lawyers at Letterio & Haug have more than two decades of combined legal experience. We understand the sensitive nature of crafting a prenup. We also understand how important it is to get it right.
Our legal team will work with you and your spouse's representation to ensure we draft and implement a prenup that helps you protect your legacy. We will make sure that control of your financial future and assets remains in your hands no matter what twists and turns your life takes in the future.
For more information about our prenuptial agreement law firm in New York and the Hudson Valley, read our clients’ testimonials.
To schedule a consultation with our New York prenup lawyers today, contact us online or via phone at (845) 203-0997.
At Letterio & Haug, LLP, our attorneys have more than two decades of combined legal experience, as well as a lengthy track record of success. Over the years, we have successfully helped countless individuals resolve a wide variety of legal problems. To see how we assisted our past clients, browse through our clients’ testimonials here. If you have any questions or concerns, please reach out to us today at 845-203-0997 and schedule a consultation.
“Passionate, committed, diligent, and very client orientated and driven.”- Eileen C.
“They have made a lifelong client out of me.”- Mike
“I cannot think of any attorney I would rather have represent me.”- Michael G.
“An amazing lawyer who genuinely cared about me!”- Kris F.
“We could not be happier with the results. Highly recommend!”- Jenna C.