Moreover, a wealthy individual may wish to write an agreement to preserve his or her fortune or for tax purposes. For example, a single parent planning on remarrying might want a premarital contract to protect a child's inheritance or personal savings. Rich celebrities aren't the only ones who need prenups. Prenups can be tailored to fit the individual needs of a couple.
Whatever the circumstance, a prenuptial agreement can protect an individual's assets and simplify property division in a divorce. The court won't accept an oral antenuptial agreement or an unsigned agreement. Prenuptial agreements must be in writing and signed by both future spouses before a notary public. In New York, a prenuptial agreement is made before marriage and will take effect as soon as the couple marries. What Is a Prenuptial Agreement?Ī "prenuptial agreement" or "antenuptial agreement" is a contract between two future spouses that settles issues of property division and support in the event of death or divorce. If after reading this article, you have questions, please contact a local family law attorney for advice. This article provides an overview of prenuptial agreements in New York. Couples should understand the requirements for an agreement before signing because premarital contracts can have long-term effects. Rather than a recipe for divorce, a prenuptial agreement can spell out rights and responsibilities during marriage and lead to fewer arguments about finances.Įach state has its own rules for prenuptial agreements. Many happy couples use premarital contracts.
If a prenuptial agreement ("prenup" for short) isn't part of your wedding plans, maybe it should be.
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