Do You Need a Pre-Nup?

Pre-nups are quite common these days especially when planning for long-term financial situations. A pre-nup can protect your assets that you worked so hard for when you decide to marry or remarry and you have established and accumulated wealth before marriage. Don’t be offended if your soon to be spouse asks you to enter into a pre-nup. Pre-nups are now an important part of life and incorporated into estate planning for many couples.

How Does a Pre-Nup Protect You?

The pre-nup protects your assets should you and your spouse divorce. This way, you know that you will not lose what you worked so hard for and protect your estate for your children.  You can also transfer assets to a trust or gift them while you are alive to your children or gift them in a will.

Both parties must agree to the pre-nup so you should sit down and talk to your partner to make sure they are in agreement. Otherwise, you might find that the court has thrown your pre-nup out and considered it void if the other party says they were forced to enter into it.  The New York courts want to make sure that one party is not destitute and avoid situations where one party keeps all the assets should they divorce later.   Always hire your own New York family law attorney to advise you so that you know your interests are being protected.

Even though you enter into a marriage with the intention of living a long life together, many factors and circumstances can change and having a pre-nup is just one way to make sure that you are financially protected.  However, a pre-nup is not the only way to protect your assets, and a pre-nup may not be right for everyone. Talk it over with your partner first before making a final decision.