Getting married provides certain rights, including joining your assets. Using a prenuptial agreement allows you to approach this process in a way that protects you from future problems. These agreements place limits on what parties would need to pay in the event of a divorce. They can also ensure certain assets remain separate between the two parties.

A Guide to Prenuptial Agreements

Fairness & Honesty

Prenuptial agreements need to be fair in order for them to be valid. This means taking the specific circumstances of the spouses into account, like their current financial assets and future plans for wealth and retirement. 

Both intended spouses need to disclose all assets to ensure everything is accounted for, including family trusts, property ownership, and investment accounts. It’s also advisable that they each have their own attorney, which protects the agreement from a conflict of interests. 

Intelligence & Foresight

Prenuptial agreements should be approached with proper planning. To that end, this document isn’t something to introduce without warning. It should be discussed thoroughly between both potential spouses well ahead of the marriage to ensure everyone is on the same page. 

The agreement can be used to ensure that assets earned during the marriage are divided in ways that make sense for everyone involved. Assets include business ventures, property purchases, wedding or anniversary gifts, and timeshares. The agreement would ensure that both future spouses are protected from losing assets to which they have lawful ownership. Joint ventures would be split fairly, and prior assets would go to the person who originally owned them. 

To learn more about the benefits of a prenuptial agreement, turn to We The People of NY. With over 25 years of experience in legal document preparation, they are equipped to guide you through the process of preparing a prenuptial agreement, as well as accommodating local court standards in New York. Call (212) 633-2200 or visit them online for obligation-free information now.