Joining your assets with your spouse can be a stressful process. One of the ways to make this process go smoother is to create a prenuptial agreement. However, if you have not created this agreement in time, you can still create a postnuptial agreement. To learn more about drafting a postnuptial agreement after you have been married, continue reading and contact our Nassau County family law attorney.
What is a postnuptial agreement?
A prenuptial agreement states how a couple’s assets will be divided in the event of a divorce. It is common for partners to avoid creating a prenuptial agreement because of its negative association. However, a prenuptial agreement is beneficial for both parties involved. If you have not created a prenuptial agreement before you are married, but still want a way to protect your assets, you can create a postnuptial agreement. A postnuptial agreement is the same type of agreement as a prenuptial agreement. The only difference is that this document is created after the wedding takes place, rather than before.
Why create a postnuptial agreement?
There are various reasons for spouses to create a postnuptial agreement including the following:
- You and your spouse did not define your financial relationship in a prenuptial agreement.
- One party’s financial circumstances have significantly changed such as receiving a large inheritance or a substantial promotion.
- You or your spouse wishes to secure financial support from another marriage.
- You and your spouse would like to avoid the potential expense, stress, and uncertainty of the equitable distribution process in the event of a divorce.
- The stability of your marriage is being impacted by financial insecurity.
What makes a postnuptial agreement valid?
In order for a postnuptial agreement to be considered valid in the state of New York, the legal document must meet the following qualifications:
- They must be fair and just to both parties
- They must be signed in front of a notary
- They must be accompanied by a full financial disclosure
- Postnuptial agreements must be in writing
- They must be signed by both parties voluntarily
- There must be no evidence of manipulation, coercion, or emotional pressure by either party
If you would like to create a postnuptial agreement, do not hesitate to contact our experienced firm. We will ensure your postnuptial agreement is created with your best interest in mind. Reach out to our firm today to learn more about how we can help.
CONTACT OUR EXPERIENCED NEW YORK FIRM
Barrows Levy PLLC is a dedicated New York law firm focused on providing quality legal services to clients in New York City and Long Island. If you require a lawyer who has notable experience handling family and estate planning matters, we are available to help. Contact Barrows Levy PLLC to schedule a consultation with one of our experienced attorneys today.