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A Practical Guide to Prenuptial Agreements

marriage and divorce attorneyMen 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

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).

Second Marriages

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.

Conclusion

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.prenuptial and post nuptial attorneys

Division of Property in a Divorce

homepage-property-divisionThe division of assets in a divorce can be a significant issue. Lawyers are expensive. They charge on an hourly basis. A “common sense” approach to division of assets can reduce your legal expenses.

Both parties may have deferred compensation assets, such as pensions, 401Ks, 403Bs, and IRAs. You should establish the value of these assets and trade them off if possible.

If the man uses the power tools on a regular basis, the majority of these tools should be given to him. If the woman utilizes a sewing machine or other items of that nature, she would be the logical owner of this equipment.

Disagreements Concerning Property Division

The division of property should only be brought to the court as a last resort. Litigating property division issues can be very expensive. An alternative to dealing with property division issues is to simply sell the property and divide the cash. Unfortunately, used personal assets generally do not generate a reasonable sales price at a tag sale.

Should you have questions concerning division of property, contact the family law attorneys at the Law Offices of Schlissel DeCorpo by email or at 1-800-344-6431.

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