It is becoming increasingly common for couples to enter prenuptial agreements before they wed. No longer viewed as unromantic or exclusive to the wealthy, a well-conceived agreement can clarify your property rights and protect your financial future if you divorce. If you reside in Nassau County, Aiello & DiFalco LLP is the law firm of choice for prenuptial agreements.
Our family law attorneys regularly help clients negotiate, prepare, and review prenuptial agreements. When you consult with us, we will help to clarify your goals and prepare an agreement that protects your property rights. Contact our office today to get started.
Assisting Couples in Nassau County with Prenuptial Agreements
A prenuptial agreement or prenup is a contract entered into by a couple before marriage to:
- Establish each spouse’s property rights in case of divorce
- Determine how bank accounts, household bills, and other debts will be handled
Ultimately, a well-conceived prenuptial agreement can help to avoid disputes over property division if the marriage does not go as planned.
Reasons To Have A Prenuptial Agreement
Suppose you delayed marriage to focus on your career or personal development and you have accumulated significant assets or you are getting remarried and wish to safeguard the inheritance rights of children from a previous relationship. A well-conceived prenuptial agreement can protect your property rights and minimize the impact of divorce on your financial future. A prenup covers the following issues:
A prenuptial agreement can differentiate between personal or separate property and marital property, such as real estate, collectibles, and retirement assets. For instance, if a couple lived in a home one of the parties owned before the marriage, the prenup can specify that it will remain the owner’s separate property in the event of divorce. Without a prenuptial agreement, the court will intervene to divide the property according to the state’s rules of equitable distribution.
Spousal Maintenance (Alimony)
The parties can decide if one party will pay temporary or post-divorce maintenance to the other. The courts are reluctant to enforce an agreement in which one of the parties waives spousal maintenance, however, especially if it will leave them with nothing.
The agreement can include a provision stating that neither party shall be responsible for the other party’s debts, such as student loans, personal loans, auto loans, credit cards, and mortgages in the event of divorce.
A prenuptial is an effective asset protection tool for individuals in Nassau County who have accumulated significant assets before marriage as well as couples who acquire a lot of property during the marriage.
Businesses can be considered marital property subject to equitable distribution. The appreciation or increase in value of a business during the marriage, even if it was started before the marriage, can be considered marital property. If you own a closely held business or professional practice, a prenup can stipulate that the business will remain separate property should the marriage end.
A prenuptial agreement can discuss how the parties will handle household expenses, saving and spending, and retirement planning. By clarifying their financial obligations before the wedding, couples can avoid disputes over finances that often lead to divorce.
Are Prenuptial Agreements Enforceable in Nassau County?
The courts presume prenuptial agreements to be enforceable; however, the agreement may be deemed invalid if:
- Either party attempts to conceal assets
- The agreement was signed under duress or coercion
- The prenuptial agreement is unconscionable (e.g. leaves the other spouse with nothing)
The courts are more likely to approve a prenuptial agreement if it is prepared by an attorney and each party had their own counsel review it.
What are the benefits of a prenuptial agreement?
The main benefit of a prenuptial agreement is that questions over property rights can be quickly resolved if you divorce. Additionally, a prenup can protect the inheritance rights of any children or other heirs from a previous marriage. Importantly, negotiating a prenup will give you and your future partner the opportunity to discuss your finances openly and honestly, setting the stage for future communications. Let our experienced attorneys help you create an agreement that protects your financial future.
Why Aiello & DiFalco?
Our firm helps clients from diverse backgrounds in Nassau County, including high-net-worth individuals, business owners, and young professionals, create legally enforceable prenuptial agreements. Whether you are a young couple planning a wedding or you are entering a second or third marriage, we will provide informed guidance and counsel and help to create an agreement that protects your rights and interests. Having a prenup is not about planning to fail, but having a plan in case the marriage doesn’t work out. When you work with us, you will feel empowered knowing that you are taking steps to protect your financial future.
Talk to An Experienced Nassau County Prenuptial Agreement Attorney
If you need assistance creating a prenuptial agreement, trust our experienced family law attorney to tailor a prenup to your situation and create a mutually beneficial agreement. Contact us today to get started.