In the excitement of getting married, it can be easy to overlook the importance
of a prenuptial or postnuptial agreement. Postnuptial and prenuptial agreements
are very similar with one noteable difference - postnuptial agreements
are signed after entering a marriage, while prenuptial agreements are
signed beforehand. Having a discussion with a soon-to-be spouse on what
happens to your property and assets should the marriage end is never an
easy conversation, but taking a proactive approach can be beneficial in
the long run.
Keeps Finances Separate
Throughout the course of your marriage, you and your spouse will accumulate
marital or community property. If the marriage should come to an end,
the assets will either be left in the hands of the court to divide, or
will be divided according to what’s stated in the agreement. Your
valuable assets are at risk of being mishandled if you don’t discuss
how they will be managed beforehand.
Protects Each Spouse From Debts
Both you and your spouse may bring in debts that have been accrued separately
before the marriage. If the marriage comes to and end with no agreement
between the two of you, creditors can take marital property and use it
to pay off the debts of a spouse. A prenuptial or postnuptial contract
can put a limit on your responsibility of a spouse’s debts.
Defines How Family Law Issues are Handled
A prenuptial or postnuptial agreement can clarify how family law issues
will be handled in the event of a divorce. Child custody, child support,
and alimony are all hot topics that can be highly contested if not properly
addressed in a contract. Having these line items in the agreement can
help avoid stressful courtroom litigation, which will save you time and money.
The Meyers Law Group, P.C. is a family law firm that focuses on divorce.
Our Long Island divorce attorney offers legal representation that is compassionate
and caring. When you hire our legal services, you can trust that your
best interests are prioritized from start to finish. Call us today at
(631) 894-4523 to schedule your consultation.