About 50% of marriages end in divorce. That is the reality. So, even though we marry for love, it makes a lot of sense financially to discuss and agree upon what things will look like if your marriage does not work out. Many of us navigate these waters in all other areas of our lives – we negotiate professional contracts, but we leave this one to chance (or love!).
A prenuptial agreement does not leave these things to chance, but instead, directs what would happen with your assets and liabilities and other things that matter to you in the event of a separation or divorce. The TIME article, “Why Should You Get a Prenup Even If You’re Young and Broke,” includes a number of helpful reasons why this contract may help you breathe a little easier, even if you never divorce.
A Postnuptial Agreement is similar to a Prenuptial Agreement, but it is a legally binding contract created between two spouses after their marriage. This contract settles the parties’ affairs in the event of a divorce or separation.
The attorneys at Copps DiPaola Silverman, PLLC are skilled at drafting prenuptial (pre-marriage) agreements and postnuptial (after-marriage) agreements for both simple and complex situations. These agreements allow you the ability to craft terms that are specific to your marriage. Typically, these agreements allow spouses to structure the financial side of their marriage in a way that meets the needs of their specific situation rather than applying New York’s Domestic Relations Law in a way that may not. If you are considering a prenuptial agreement, but are unsure whether one is right for you, we suggest that you meet with an attorney for a consultation to better understand your rights. Prenuptial agreements and postnuptial agreements are documents meant to help you plan for a successful marriage