Who Should Get a Prenuptial Agreement and Why?
Potentially anyone who is thinking of engaging in the legal act of marriage should seriously consider entering into a prenuptial agreement with their partner. In general, the main reason why someone would want a prenuptial agreement is to mitigate risk associated with uncertainty about the future. Individuals who enter into a prenup agreement, therefore, can be thought of as purchasing a form of legal insurance. Specifically, they are insuring themselves against the financial and emotional pain of contentious legal proceedings that may not serve the best interests of the couple.
Prenuptial agreement in NYC
A prenuptial agreement allows the couple to come together and decide the fate of their current and future assets should the marriage contract end in some way. Without an agreement, both parties to the marriage contract are exposed to a significant amount of financial and emotional risk. For these reasons, it is important that potential spouses discuss obtaining a prenuptial agreement and seek advice from an experienced family attorney in NY.
How Do I Obtain a Prenuptial Agreement?
First and foremost, you must obtain the consent of your future spouse. Without their consent, a legally binding prenuptial agreement cannot exist. In order to obtain their consent, both of you will need to discuss, in a frank and open manner, exactly what it is you want from a prenuptial agreement and what intentions underly the conditions of the agreement. The more you discuss these details, the more chance you have of obtaining a legally valid prenuptial agreement. The final step in obtaining a prenup agreement is consulting attorneys who specialize in family law. It is important, however, to ensure that your attorneys have relevant experience in drafting prenuptial agreements within the jurisdiction of interest, typically, the state where you intend to marry.
How Do I Ask My Partner for a Prenuptial Agreement?
For many individuals, a prenup agreement can be a difficult subject to broach with their partner. Discussing the risks associated with legal marriage may seem like a good way to ruin the “magic” of relationship, but if you want your marriage to last, you and your partner must be willing to have frank conversations about the realities that face married couples. One way to approach the topic is to discuss how your present and future assets should be distributed in the case of one party’s death. Because death is an inevitability, there is less chance your spouse will become defensive or offended. This strategy can help prepare your spouse for the more emotional topic of divorce. By laying out in detail the advantages of risk mitigation, your spouse will be more receptive to evidence-based arguments. The most important thing to remember when discussing this issue with your partner is that an agreement before marriage protects both parties to the marriage contract from risk associated with death and divorce.
Stress the benefits of a prenuptial agreement in financial and emotional terms and you will have a better chance of convincing your spouse to enter into a mutually beneficial agreement that serves to protect both of your assets.