Getting married is something everyone looks forward to. Unfortunately, marriage doesn’t always work out. In fact, roughly half of all marriages end in divorce. Part of most divorces is dividing property between spouses. This is often a very hotly-contested issue, and understandably so. Fortunately, there are ways to protect your assets from a divorce in documents known as prenuptial and postnuptial agreements. Please continue reading and reach out to an experienced Nassau County prenuptial agreement lawyer from our firm to learn more about them and how they can benefit you. Here are some of the questions you may have:
How are prenuptial and postnuptial agreements different?
Prenuptial agreements and postnuptial agreements are different, but they serve the same basic purpose, which is protecting assets and outlining certain potential terms for a future divorce. The only significant difference between the two documents is that a prenuptial agreement is drafted prior to a marriage, while a postnuptial agreement is exclusively drafted after a marriage. Though the thought of planning for divorce either before you’re married or even while you’re married may seem off-putting, the truth is, these agreements are fantastic and practical tools that can save both you and your spouse a great deal of trouble down the road.
What can I protect in a prenuptial or postnuptial agreement?
People can protect a wide array of assets in prenuptial and postnuptial agreements. Just some of the assets you can protect from a divorce in these agreements are as follows:
- Real estate properties
- Foreign assets
- Certain investment accounts
- Business assets
Couples can also outline future alimony terms in a prenuptial agreement as well. That being said, you should understand that although prenuptial and postnuptial agreements are great tools, they can’t protect everything from a divorce. For example, you cannot establish a child custody agreement in a prenuptial agreement. Typically, premarital debts are also not covered by a prenuptial or postnuptial agreement. Spouses also cannot establish child support in a prenuptial agreement.
If you have any additional questions about pre or postnuptial agreements in New York, please don’t hesitate to reach out to an experienced Nassau County divorce lawyer from Barrows Levy PLLC today.
CONTACT OUR EXPERIENCED NASSAU COUNTY 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.