Over the years, your and your spouse’s marriage may have evolved in ways you could not have possibly imagined before tying the knot. Whether your financial circumstances have changed, you are planning to come into business interests, or you simply want clarity and protection in the unlikely event of separation or divorce, a postnuptial agreement may be what you need to gain some peace of mind. At Barrows Levy, PLLC, we have helped countless couples create legally valid and enforceable agreements. So please continue reading to learn how one of our experienced Long Island postnuptial agreement lawyers can help you craft one that is tailored to your family’s unique needs and financial situation.
The Issues Postnuptial Agreements Can Address
You may have heard of a prenuptial agreement before, but never a postnuptial one. Well, this is similarly a written contract that outlines how assets, debts, and other financial matters will be handled during the marriage and in the event of separation, divorce, or death. The only distinction here is that this agreement is executed after a couple is legally married. And so, this legally binding document may cover the following topics:
- Property division: how marital and separate property will be administered in a divorce case.
- Debt allocation: which debts will be considered marital versus separate in a divorce case.
- Alimony: whether either spouse will waive or limit support obligations in a divorce, and in what amount.
- Business interests: whether either spouse will have certain protections for closely held businesses, professional practices, and future income streams.
- Inheritances: how certain assets will be treated for inheritance purposes, especially if children are involved.
By having these tough conversations in advance and detailing these terms on paper, spouses can minimize the emotional and financial tolls that a future dispute may cause. A New York State Family Court may approve your proposed postnuptial agreement so long as it meets certain criteria. Our team at Barrows Levy, PLLC, can ensure you prepare this document correctly the first time around.
Why a Postnuptial Agreement May Be Right for You
Contrary to what the negative stigma may be, a postnuptial agreement does not have to be established only because spouses anticipate separating or divorcing. Rather, to reiterate, it may also work to set roles and expectations during a marriage. Here are some reasons why a postnuptial agreement may be appropriate to look into:
- One or both spouses have come into a significant inheritance.
- One or both spouses have experienced a considerable income change.
- One or both spouses have started or invested in a business.
- One or both spouses have taken on substantial debt for a personal venture.
- One or both spouses have children from previous relationships.
- One or both spouses have separated and recently reconciled.
If you are still unsure whether your motivation warrants a postnuptial agreement, you may seek further legal guidance from our team at Barrows Levy, PLLC.
The Keys to a Valid and Enforceable Document
Even though one may be satisfied with the postnuptial agreement they and their spouse drafted, it may not stand if the New York State Family Court believes it fails to meet certain legal requirements.
For one, they may discern that either spouse failed to provide a complete and accurate disclosure of all your assets, debts, income, etc. Or, they may find certain terms to be grossly unfair to one party, and become suspicious that they experienced duress, undue pressure, or manipulation when signing this paperwork.
Well, your family lawyer will step in should such challenges arise in the courtroom. Our team knows how to defend these agreements aggressively and preserve their enforceability whenever possible.
The Benefits of Working with our Long Island, NY Postnuptial Agreement Lawyers
Drafting a postnuptial agreement requires great insight into family law, financial planning, and courtroom processes. This is why you should not begin working on this document until you retain the services of one of the skilled Long Island postnuptial agreement lawyers. At Barrows Levy, PLLC, we represent spouses in Nassau County, Suffolk County, and throughout the Long Island area in writing, negotiating, and enforcing postnuptial terms tailored to their unique circumstances. Contact our firm today to schedule an initial consultation and begin protecting your interests for the future.
