Prenuptial Agreement Lawyer in New York

Helping You Safeguard Your Future Through a Prenup

At Eiges & Orgel, PLLC, we realize that a prenuptial agreement is a very sensitive issue for those parties who intend to marry. What differentiates our family law firm from other lawyers is that we look at what your seeking in an agreement from an emotional standpoint.

After we find out what you are trying to accomplish and presenting you with numerous scenarios we are able to memorialize your intentions in a legal document. Marriage is not only an emotional and spiritual bond. It is also an economic partnership. A good New York City prenuptial agreement lawyer has to balance the emotional and economic issues.

Our prenuptial agreements are written in plain English. It won't need translation or deciphering. We've find that agreements written in simpler terms, lead to fewer arguments and present less emotional charge than those using too much legalese. We work to make the process easier on you and your spouse.

In need of a prenup? Our prenuptial agreement lawyers in New York City can meet with you and your future spouse to discuss your options and help you get started. Call (347) 848-1850 or contact us online today.

The Basics of a Prenuptial Agreement in New York

If you're considering a prenuptial agreement, there is a lot to consider. In fact, you may want to download the attached to read through and outline some of the thing you want to accomplish in your prenuptial as going in with a plan will greatly help to make the process smooth.

What Does a Prenuptial Agreement Cover?

A prenuptial agreement is also known as a premarital agreement. A prenuptial agreement is a contract between you and your spouse that states what would happen if the marriage ends.

While the content of a prenuptial agreement often varies significantly, most prenuptial agreements provide for the division of property (equitable distribution) and spousal support (maintenance or alimony). It is especially advisable to execute a prenuptial agreement to avoid a potential legal battle in a high net worth divorce.

If you take the time to clearly define the equitable distribution of any wealth you accumulate during the marriage or assets you possessed before the marriage, the chances that you will end up in a contested divorce will be far less. The prenuptial agreement can be a very useful tool towards limiting the financial risks that one spouse may incur if he or she were to get married.

The document is also used to limit a person's responsibilities in the event that one party to a marriage predeceases the other, by waiving their individual rights to the right of election (taking their share of the decedent's estate which is left by Will or allowed by statute).

Topics that may be covered in this type of agreement include:

• Property division
• Debt division
• Spousal support

You may benefit from a prenuptial agreement if you make a significantly higher salary than your spouse. Many people unfortunately marry for money, but a prenuptial agreement can secure a spouse's money in the event of a divorce.

Can a Prenup Protect You From Your Spouse’s Debt?

You may also want to enter into a prenuptial agreement because of debt. If one spouse has a lot of debt, whether it was incurred before or during the marriage, divorce proceedings may identify both spouses responsible for the debt.

What Are the Most Common Reasons for a Prenuptial Agreement?

Here are four common reasons that couples establish prenuptial agreements:

• This isn't your first marriage. If you are remarrying, you probably have a significant number of financial obligations. For example, you may have alimony or child support obligations from your previous marriage. A prenuptial agreement allows you to keep your new spouse free from any obligations associated with your previous marriage.
• Your spouse has accumulated a large amount of debt. If your soon-to-be spouse has collected a large amount of debt, it is important to make sure that your marriage does not leave you with outstanding financial obligations. In the event of a divorce, you could be left dealing with some of your spouse's debt. A prenuptial agreement allows you to remain debt-free.
• You are significantly wealthier than your future spouse. If you have more financial assets than your future spouse, a prenuptial agreement ensures that (in the event of a divorce) your financial assets will be protected. Additionally, a prenuptial agreement guarantees that your partner loves you for yourself - not your money.
• You have significantly less money than your future spouse. Prenuptial agreements can protect the poorer spouse, too. In the event of a divorce, a prenuptial agreement can address issues like spousal support to guarantee that you are financially protected.

Benefits of a Prenup

A prenuptial agreement in New York offers several key benefits, especially for individuals with assets, business interests, or specific financial concerns. Here’s why a prenup can be beneficial for both parties:

• Asset protection: A prenuptial agreement helps define which assets belong to each spouse before marriage, preventing them from being considered marital property. This is especially useful for protecting inheritances, investments, and business interests from division in a divorce.
• Debt protection: As we mentioned earlier, a prenup can shield one spouse from being responsible for the other’s debts, such as student loans or credit card balances. This ensures that financial obligations remain with the person who incurred them, reducing financial risk.
• Clarity in spousal support: The agreement can establish whether alimony will be provided in the event of a divorce and set conditions for its amount and duration. This prevents lengthy legal disputes and ensures financial expectations are clear from the start.
• Protection for business owners: If one spouse owns a business, a prenup can prevent the other from claiming a share of ownership or control. This helps protect the business’s assets and operations, ensuring its stability even in the event of a divorce.
• Estate planning benefits: A prenuptial agreement can protect the inheritance rights of children from a previous marriage by ensuring assets are passed down as intended. It also helps align with an estate plan by clarifying how property and wealth should be distributed.
• Saves time and money in divorce: By pre-determining financial arrangements, a prenup can help avoid costly and time-consuming court battles. It simplifies the divorce process by reducing disputes over asset division and spousal support.
• Customizable financial arrangements: Couples can use a prenup to set financial responsibilities, such as managing joint bank accounts or paying household expenses. This provides a clear financial structure and prevents misunderstandings during the marriage.
• Protection against New York’s equitable distribution laws: New York follows equitable distribution, meaning marital assets are divided based on fairness rather than an automatic 50/50 split. A prenup allows couples to set their own terms for property division, rather than relying on a court’s decision.