Setting a prenuptial agreement before your wedding is the best way to ensure that both you and your partner are legally protected in the event of a divorce. Although it’s not always pleasant to think about the idea of divorce right before the wedding, it can significantly reduce complications down the road if your marriage does not go as planned. This is particularly important if one or both of you are entering the marriage with significant assets. Hiring a prenuptial agreement attorney is one of the most effective ways to protect yourself long-term.
Prenuptial agreements are legally binding agreements but are only enforceable if prepared properly. Typical agreements include plans for division of property, defining which items are individual property, which will be marital property, and which spouse would be entitled to the shared property in the event of a divorce.
Prenuptial agreements also include division of finances, including, but not limited to, shared bank accounts, stocks, mutual funds, and retirement funds. Couples who intend to have one partner remain at home during the marriage (i.e., if one parent stays at home to raise their children) may want to provide stipulations regarding any future financial support. If the couple does plan to have children, provisions regarding future childcare plans may also be included.
While being asked to sign a prenuptial agreement may feel off-putting at first, it is simply a legal document intended to protect you and your future spouse in the event of a divorce. For prenuptial agreements New York residents rely on, contact David Carr & Associates. We are committed to helping our clients prepare for whatever challenges the future may bring with care, knowledge, and compassion.