What does a prenuptial agreement address?
For couples looking to get married, they should consider signing a prenuptial agreement. This can help to divide their assets and they can claim what belongs to them individually. Through this document, individuals can enter a marriage knowing that their property cannot be taken from them or abused in any way. Individuals with a business or high net worth may wish to do this due to their numerous assets. Prenuptial agreements are documents that establish what was to happen if a marriage did end. In these documents, individuals that are about to become married can claim what property and assets are theirs. With this written down, there will be no question as to which possession belongs to each spouse. They are made before couples get married. It can help couples avoid taking legal action after a divorce, separation or death. These instances are already hard enough without individuals having to claim what they own and possibly fighting in response.
In order for the agreement to be legally binding, certain guidelines need to be met to prove that each spouse was willing. It must be a written document that is voluntarily agreed upon by both parties. For it to be effective, it has to be notarized. A prenuptial agreement lists a full financial disclosure for both persons involved to ensure that everything is accounted for. The document should be fair and just to both spouses. Within the document, there is to be no mention of children, regarding child support or custody agreements. These issues are not laid out in these documents because they are not decided upon yet.
Can I get an agreement made after I’m already married?
Couples can decide to get a prenuptial agreement even after they get married. Since this is being done after vows have been exchanged in a ceremony, it is called a postnuptial agreement. The document serves the same purpose as a prenuptial agreement and outlines what assets are owned by which spouse. This may become an option if a spouse were to start a business or acquire a high net worth that they did not have prior to their official marriage. For this document to be legally binding, it must also be written down and notarized. Also, it should be made at the voluntary willingness of each spouse.
The Pollack Law Firm, P.C. understands that divorce and family law matters can be very complicated and emotional. They require strong legal representation from a compassionate 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.