Postnuptial agreement is a legal document regarding what will happen to your finances and property in the event you get divorced. Unlike a prenuptial agreement, which is only valid once the marriage happens, a postnuptial agreement is valid as soon as the documents are signed. A postnuptial agreement in NY will typically define which property belongs to each individual and which property is considered marital property. A postnuptial agreement will also specify what each spouse will be entitled to in the event of a divorce and may also lay out a plan for alimony payments and post-divorce child custody arrangements.
While no one wants to preemptively think about divorce, many couples choose to enter into postnuptial agreements for a variety of reasons, including future financial stability for stay-at-home parents, asset protection for high-income earners, and child custody arrangements to help any future custody proceedings run smoothly.
It’s important to work with a legal team that specializes in family law to make sure your family is taken care of should a divorce occur. If you are considering setting up a postnuptial agreement in NY, contact David Carr & Associates today.