Men and women marry, generally speaking, because they are in love. At the time of marriage couples rarely think about getting divorced. Divorce isn’t romantic. Marriage certificates are not supposed to have expiration dates built into them. However today, divorce is much more common than it was in the past. Do you need a prenuptial agreement?
Prenuptial agreements are not for everyone. These agreements are prepared prior to marriage. One party hires an attorney to draft the prenuptial agreement and the other party needs an attorney to review it to see that it is fair. Prenuptial agreements provide structure for issues concerning division of assets, spousal maintenance (alimony), divorce, death of one of the parties, separation of the parties and the disability of one of the parties. The law to New York requires a prenuptial agreement to be in writing and executed by each of the parties. The agreement also must be acknowledged in the same manner as a deed (this requires the notarization of the parties statements).
Individuals entering into a second marriage are more likely to request that a prenuptial agreement be entered into than those being married for the first time. This is especially true when there are children from the prior relationship. The prenuptial agreement allows each of the parties to protect assets acquired prior to the date of the marriage.
Prenuptial Agreements are not Romantic
The discussions of entering into a prenuptial agreement can cause strife among the prospective nuptials. Many individuals going into a marriage are of the belief that if they ask their prospective spouse to sign a prenuptial agreement, it will convey a lack of love and belief that the marriage will not be long lasting.
Couples who enter into a marriage where either party has significant assets or children from their prior marriage, they should consider entering into a prenuptial agreement. Although prenuptial agreements are not romantic, this should not stop the parties from making logical and intelligent decisions concerning their economic rights. Although, when people get married, they don’t think about divorce. A divorce rate of almost 50% is a fact of life.