Post-Nuptial Agreements in New York
What is A Post-Nuptial Agreement?
Similar to a pre-nuptial agreement, a post-nuptial agreement sets out how money and/or assets should be divided in the event of death or divorce. The biggest difference between these two types of agreements is that one is created prior to a marriage and one is created after the marriage agreement. The way that the courts view pre-nuptial and post-nuptial agreements can vary.
What are Some of the Basics of a Post-Nuptial Agreement?
Although not an exhaustive list of areas a post-nuptial agreement may cover, some of the items it may discuss can include:
- Provide a definition for separate property. Spouses may want to define who has an interest to inheritances that were received in one spouse’s name during the marriage.
- Identify and define marital property. You can identify which properties should be considered marital and which are separate.
- Establish spousal maintenance. This can set forth what a spouse is expected to contribute to the other spouse in the event of a divorce;
- Establish pre-marriage debt. The spouses can identify which debts were acquired prior to marriage and can state that those debts stay with the spouse who holds the debt.
How Does a Court View A Post-Nuptial Agreement?
Generally, courts believe that spouses have a duty to one another so they may be very careful when it comes to enforcing any pre-nuptial or post-nupital agreement. However, if you have a post-nupital agreement with your spouse, a court may consider the agreement. A court can review a post-nuptial agreement to ensure it is fair and equitable. A post-nuptial agreement should be created with separate attorneys for the spouses, they should disclose all financial information, the spouses should not coerce each other into signing the agreement, and they should be fair and equitable.
Creating a pre-nuptial or post-nupital agreement is a big decision. If you are considering a pre-nuptial or post-nupital agreement, you should consult with an experienced attorney.
Robert Pollack is an experienced divorce and family law attorney in Long Island, New York. Contact The Pollack Law Firm, P.C., to set up a free initial consultation.