Hicksville Prenuptial Agreements

Are you a resident of Hicksville, New York, who’s wondering about whether a prenuptial agreement is right for you? These agreements can be a smart move for anyone wanting to protect their assets or define other financial terms before getting hitched. A prenup is not just about preparing in advance in case things don’t work out—it’s about planning for a secure and predictable financial future together.

At Aiello & DiFalco LLP, we provide personalized advice and detailed support for those drafting prenuptial agreements. We’re here to protect your rights and ensure your agreement reflects your intentions clearly. Interested in learning more? Contact us today for a free initial consultation, and let us help you start your marriage with peace of mind.

What Is a Prenuptial Agreement?

A prenuptial agreement or prenup is a legal document that a couple signs before they get married. This document outlines how they will handle their finances during their marriage and what will happen to their assets if they decide to divorce. It allows both partners to clearly outline their financial rights and responsibilities. By making these decisions early, couples can avoid surprises and secure their financial futures. These agreements can include details about asset division, debt responsibility, and alimony. However, they cannot determine child support or custody issues, as these matters require court approval. 

Some couples choose to sign prenuptial agreements to:

  • Protect individual assets acquired before marriage 
  • Clarify financial responsibilities during the marriage
  • Support estate planning and ensure assets pass to children from previous relationships
  • Define the terms for potential alimony or spousal support
  • Prevent disputes over finances in case of a divorce
  • Manage business ownership and responsibilities
  • Prevent one partner from becoming responsible for the other’s debt
  • Reinforce mutual financial goals and expectations

Common Misconceptions About Prenuptial Agreements

Many people misunderstand prenuptial agreements. Some think these agreements mean that a couple expects their marriage to fail, but this is not true. Signing a prenuptial agreement is similar to getting an insurance policy. Just as insurance protects against potential future risks without expecting them to happen, a prenuptial agreement secures both partners’ financial interests in case things don’t work out. 

Another common misconception is that prenuptial agreements are only for the wealthy. In reality, anyone with personal assets, debts, or children from previous relationships can benefit from a prenuptial agreement. 

Some also mistakenly believe that prenuptial agreements set everything about the marriage’s finances in stone. In fact, couples can design their agreements with provisions that allow for changes or updates in the future. For instance, a couple could include a clause that allows them to revisit and modify the agreement at certain milestones, like after the birth of a child.

The Benefits of a Prenuptial Agreement

Prenuptial agreements offer numerous benefits that make them a practical choice for many couples. One major benefit is the protection of individual assets. This is especially important for those entering a marriage with significant personal assets, businesses, or inheritances. A prenuptial agreement can explicitly define what is personal property before the marriage begins to ensure that these assets remain with the original owner in case of a divorce. 

Another key benefit is the potential reduction of conflicts in the event of a divorce. Since a prenuptial agreement outlines how to divide assets and responsibilities, it can cut down on disputes and make the divorce process smoother and faster. 

Prenuptial agreements also promote transparency in a relationship. They require couples to be open about their finances, which can build trust early on. They can also outline financial responsibilities during the marriage, potentially preventing future disagreements over money.

How to Draft a Prenuptial Agreement

Drafting a prenuptial agreement requires careful planning and clear communication between partners. First, both partners should fully disclose their financial situations. This includes detailing all assets, debts, incomes, and potential inheritances. Openness ensures that the agreement will be legally enforceable and can prevent future disputes. Couples should then discuss and agree on the division of assets and financial responsibilities in the event of a divorce. This conversation should cover all assets and debts acquired before the marriage.

Once the couple agrees on the terms, they should each hire their own lawyer to review the agreement. Having separate lawyers is an excellent way to ensure that the agreement protects both parties’ interests. The lawyers will verify that the document meets all legal requirements and is fair to both parties. The final step is to sign the agreement before a notary or an authorized person to make the document official and legally enforceable. 

Legal Requirements for Prenuptial Agreements in New York

In New York, prenuptial agreements must meet specific legal standards to be enforceable. According to Section 236 of the Domestic Relations Law, a prenuptial agreement must be in writing and signed by both parties. It also needs to be acknowledged or proven in the manner required for a deed to be recorded, which usually means signing it before a notary public.

Prenuptial agreements can cover various aspects of the couple’s finances, such as the division of marital and separate properties, alimony terms, and how to handle future earnings. However, these agreements must not make provisions that would lead to one partner becoming incapable of self-support or a public charge. Importantly, the terms agreed upon must be fair and reasonable at the time of signing and not unconscionable at the time of any divorce.

Financial disclosure is also mandatory. Each party must provide a detailed and sworn statement of net worth before finalizing their prenup. This includes a list of all assets and liabilities. In matrimonial actions where financial matters like alimony or maintenance are involved, such disclosures ensure transparency and fairness in the proceedings. Any agreement on financial issues must also allow for future legal review to ensure it remains just and equitable.

Contact a New York Prenuptial Lawyer Now

If you are ready to create a prenuptial agreement or have questions about the process, contact Aiello & DiFalco LLP today for your free consultation. Our lawyers will listen to your concerns, explain your options, and guide you through drafting an agreement that protects your interests.