The purpose of this article is to provide some general information with regard to how you can protect your assets in the event of a divorce.
WRITE A PRENUPTIAL AGREEMENT OR POSTNUPTIAL AGREEMENT
A prenuptial agreement is a contract between two individuals who intend on marrying that sets forth their rights in the event of death or divorce. The prenuptial agreement can also deal with financial rights and obligations during the course of the marriage. A postnuptial agreement accomplishes the same things as a prenuptial agreement, but the postnuptial agreement is executed after the parties are married.
Prenuptial and postnuptial agreements are very specific, detailed documents that should be drafted by an experienced attorney. Each of the parties to the agreement should be represented by their own counsel to protect their rights.
CHALLENGING EQUITABLE DISTRIBUTION IN THE EVENT OF A DIVORCE
In the state of New York, if the parties to a marriage become involved in a divorce litigation, each of the parties is entitled to equitable distribution of the assets accumulated during the course of the marriage. However, under the New York equitable distribution law, it can be shown that one party is entitled to a greater portion of the marital assets than the other.
Elliot S. Schlissel is a family law attorney with more than 35 years of experience practicing law in the metropolitan New York area.