Prenuptial and Postnuptial Agreements in New York
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Prenuptial and postnuptial agreements are made in order to make decisions regarding property and finances between prospective people. These agreements are enforced by law and help to avoid uncertainty if there was ever to be a divorce or death of a spouse. Agreements like these can be beneficial if one or both spouses have children from other relationships and would like to protect assets for their children in the future.
In order for either of these agreements to be valid they must:
- Be written
- Disclose all assets and debts of both parties
- Be fair when entered into
- Have signatures that are notarized
- Follow public policy
Prenups are not solely for people with a lot of money, there are many reasons to draft this agreement, including:
- To spell out property division to children from other relationships
- To clarify financial rights and responsibilities during the marriage
- To avoid arguments if you end up getting divorced
- To protect yourself from debts of the other spouse
If you do not obtain a prenuptial agreement, state law will determine property division and alimony decisions if you and your spouse divorce. The process of property division in divorce can be time-consuming and costly. Drafting a prenup can save you the hassle of this process altogether. If anything, this agreement can provide you with peace of mind that there are arrangements in place just in case something was to happen between you and your spouse.
New York Postnuptial Agreements
This type of agreement is also termed "postnup" and this agreement is formed while spouses are married. Spouses oftentimes realize that they should have made a prenup and end up drafting the agreement during their marriage. A postnup is usually used if couples want to make arrangements for divorce or in case one spouse was to pass away.
This agreement can create provisions for any of the following issues that could come about:
- Asset division
- Child support
- Alimony/ spousal support
- Child custody
- Visitation
- Property division
- Debt division
Prenups and postnups often carry negative connotations because people think to create this agreement you are doubting your marriage. In actuality, many people make these agreements to avoid uncertainty if one spouse dies. In order to avoid a long probate process, these agreements can make arrangements ahead of time. Prenups and postnups can be used if a couple foresees a divorce and wants to settle divorce issues ahead of time, but that is not the sole reason to draft an agreement.
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A CFL is not just an attorney; they are professionals who have undergone extensive training in handling the financial aspects of legal issues, especially those related to divorce and complex financial matters. Certified financial litigators have completed comprehensive training and achieved a passing grade on the CFL Exam, ensuring they are well-versed in all aspects of financial law. Choosing an attorney with a CFL certification means you're opting for an expert with a deep understanding of financial issues that may arise during legal proceedings. These attorneys can provide advice and guidance based on a thorough knowledge of financial concepts and regulations.
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Where Can I File My Divorce Paper Work?If you are currently engaged in an uncontested divorce then you can file your divorce papers at the County Clerk’s Office, or online using the New York State Courts Electronic Filing System. However, many times this isn’t the case and you need an attorney that will guide you through your divorce. Contact my firm today for more information.
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What Are Grounds for Divorce in the State of New York?In New York any of the following reason will qualify you for a divorce: complete marital division (no-fault divorce) for a period of at least 6 months, abuse, abandonment, prison time, cheating, or a period of legal separation.
