PRENUPTIAL AGREEMENTS LAWYERS IN NEW YORK
In the vibrant and complex legal landscape of New York, prenuptial agreements are often utilized to protect individual assets and establish clear financial expectations before marriage. Cohen Stine Kapoor LLP, located in Manhattan, NY, offers specialized services in drafting and reviewing and negotiating prenuptial agreements. With a deep understanding of New York's unique legal framework, our team of experienced prenuptial agreements lawyers ensures that your agreement is comprehensive and legally binding.
What Is the Purpose of a Prenuptial Agreement?
A prenuptial agreement, often referred to as a prenup, serves as a legal contract between two parties before they marry. Its primary purpose is to outline the distribution of assets and responsibilities in the event of divorce or death. By establishing these terms beforehand, a prenup can prevent future conflicts, protect individual assets, and provide clarity on financial expectations throughout the marriage.
What Is a Prenup in New York?
In New York, a prenuptial agreement is a legal document that specifies how assets, debts, support, and other financial matters will be handled if the marriage ends in divorce or death. New York's equitable distribution laws, which aim to divide marital property in the event of divorce fairly, which is not always equally, make having a well-drafted prenup especially important. A prenup can override default state laws, allowing couples to determine their terms regarding asset division, spousal support, and more.
What Are Important Things to Include in a Prenup? When creating a prenuptial agreement, it is crucial to include specific details to ensure its enforceability and effectiveness. Key elements to include are:
Asset Protection - Clearly outline what is considered separate property versus marital property.
Debt Allocation - Determine who will be responsible for existing and future debts.
Spousal Support - Establish terms for alimony or spousal maintenance, including conditions for modification or termination.
Inheritance Rights - Specify how assets will be distributed upon death, especially if there are children from previous marriages.
Business Interests - Protect any business assets or future income from a business that one party may own.
Dispute Resolution - Include a clause on how disputes related to the prenup will be resolved, such as through mediation or arbitration.
Spousal Support & Other Benefits - Spousal support, also known as alimony or maintenance, is a critical component of many prenuptial agreements in New York. A prenup can set specific terms for spousal support, including the amount, duration, and conditions under which it will be paid, and can also provide that under certain circumstances spousal support will be waived. This can prevent lengthy legal battles and provide both parties with a clear understanding of their financial obligations in the event of divorce.
In addition to spousal support, prenuptial agreements can address other benefits, such as health insurance, retirement accounts, and life insurance policies. By including these in the prenup, couples can ensure that these benefits are protected and distributed according to their wishes.
What Are the Advantages of Having a New York City Premarital Agreement?
Having a prenuptial agreement in New York City offers numerous advantages. We work with clients in Manhattan and the surrounding areas, offering different types of prenuptial agreements.
Asset Protection
Safeguard certain personal assets from being considered marital property.
Debt Management
Clearly define who is responsible for existing and future debts.
Avoiding Costly Litigation
Prevent disputes and reduce the potential for expensive legal battles in the event of a divorce.
Customizing Financial Arrangements
Tailor financial arrangements to fit the unique needs of the couple rather than relying on New York's default laws.
Consult With Our Prenup Attorneys
At Cohen Stine Kapoor LLP, our experienced prenuptial agreements attorneys can help you create an enforceable agreement tailored to your needs. Contact us today to schedule a consultation.