Prenuptial Agreement Attorneys in Brooklyn
Safeguard Your Future with a Comprehensive Prenuptial Agreement
Ready to draft a premarital agreement with your soon-to-be spouse? The
experienced legal team at Arnel Law Firm can answer your questions regarding
prenuptial agreements, explain the multitude of reasons to establish one,
and help you draft a contract that meets your needs. We can also assist with
postnuptial agreements.
Attorney Curt Arnel has practiced
family law for more than 35 years. His previous career as a certified public accountant
means he has insights into financial matters, including investments and
business ownership, which many family lawyers do not have. This is particularly
advantageous when sorting through the intricacies of prenuptial agreements.
Protect your assets and secure your future with a well-drafted prenuptial
agreement.
Contact us at
(718) 550-3024 to schedule a consultation today.
What Is the Purpose of a Prenup Agreement?
A prenuptial agreement is a legally binding contract between two soon-to-be
spouses that outlines each party's rights and obligations in the event of
divorce. A prenuptial agreement can protect your rights and assets and shield
you from your spouse’s debts should your
marriage end in divorce.
Prenuptial agreements are most beneficial to
high net worth individuals, but couples from all walks of life can benefit from creating a prenuptial
agreement. For example, if you have
children from a previous marriage, you may choose to create a prenuptial agreement to ensure that your children
will inherit certain assets in the event of your death rather than leaving
them to your surviving spouse.
Why Should You Consider a Prenup?
One of the primary reasons to consider a prenup is to define asset division
clearly. In the event of a divorce, a well-crafted prenup delineates how
assets acquired both before and during the marriage will be distributed.
This can significantly reduce potential conflict, ensuring that both parties
understand their rights and responsibilities.
Additionally, prenuptial agreements can address debt management. With many
couples bringing various debts into a marriage, a prenup can specify how
existing liabilities will be handled. This foresight can protect individuals
from being held responsible for their spouse's debts, fostering financial security.
Another important aspect is the consideration of
spousal support. A prenup can outline the terms for alimony, including the amount and
duration of payments, which provides financial clarity and expectations
for both partners.
Furthermore, a prenup can be particularly valuable for individuals with
significant assets, business interests, or children from previous relationships.
It allows individuals to safeguard their financial legacy and set clear
guidelines regarding the treatment of inheritance and family obligations.
Essential Components of a Prenuptial Agreement
A prenuptial agreement can address several matters, including:
Duration of Prenuptial Agreements: What You Need to Know
The lifespan of a prenup will depend on the stipulations included in the
agreement. A prenuptial agreement could last for the entire marriage unless
the couple includes a “sunset clause.” This provision outlines
a termination of the prenup after a certain amount of time has passed.
Common Misconceptions About Prenuptial Agreements
Prenuptial agreements are often misunderstood. Many people assume they
are only for the wealthy or that signing one means planning for divorce.
In reality, prenups can benefit couples of all financial backgrounds by
providing clarity and protecting both partners' interests.
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Are prenups only for the wealthy?
No. While high-net-worth individuals often use prenuptial agreements, they
can be valuable for anyone who wants to protect personal assets, inheritances,
or business interests.
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Does signing a prenup mean you expect the marriage to fail?
Not at all. A prenup is like an insurance policy—it’s there
just in case. Many couples create prenups simply to avoid legal complications
if the unexpected happens.
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Can a prenup include lifestyle clauses?
Yes, prenups can outline expectations for things like financial responsibilities,
debt management, or even pet custody. However, some lifestyle clauses
(such as personal behavior rules) may not be legally enforceable.
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Can a prenup be changed after marriage?
Yes. Couples can modify or revoke a prenuptial agreement after marriage
by creating a postnuptial agreement, as long as both parties agree to
the changes.
How a Prenuptial Agreement Protects Business Owners
If one or both spouses own a business, a prenup can help ensure that the
business remains protected in the event of a divorce.
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Keeping business assets separate from marital property – A prenup can clarify that a business started before the marriage
remains separate property.
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Preventing a spouse from claiming business ownership – Without a prenup, a spouse may have legal grounds to claim part
of the business.
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Avoiding business disruptions during a divorce – A prenup can prevent disputes over control or management of the business.
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How valuation and appreciation of a business are handled – The agreement can specify how any increase in business value during
the marriage will be addressed.
Enforcing a Prenuptial Agreement in New York
A prenup must meet legal requirements to be enforceable in New York. Courts
will evaluate several factors to determine its validity.
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What makes a prenup legally valid? – Both parties must fully disclose assets, voluntarily sign the
agreement, and have separate legal representation.
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Grounds for challenging a prenup in court – A prenup may be challenged if one party was coerced into signing
or if important financial details were hidden.
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Steps to take to ensure a prenup is enforceable – Working with an attorney ensures that the agreement complies with
New York laws and protects both parties fairly.
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When a prenup might be considered unfair or invalid – If the agreement is significantly one-sided or was signed under
duress, a court may decide not to enforce it.
Frequently Asked Questions About Prenuptial Agreements
Can a prenuptial agreement cover child custody or child support?
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No. Prenuptial agreements cannot determine
child custody or
child support arrangements. These matters are decided based on the child's best interests
at the time of divorce, not beforehand.
Do both spouses need a lawyer to create a prenup?
- While it is not legally required, it is highly recommended that both spouses
have separate legal representation. This helps ensure that the agreement
is fair, properly drafted, and less likely to be challenged in court.
Can a prenup dictate how household expenses are shared during the marriage?
- Yes. Couples can include terms about financial responsibilities, such as
how household bills, joint accounts, or debt repayments will be managed.
However, courts may not enforce overly restrictive or unreasonable terms.
Is a prenup still valid if we move to another state?
- It depends. Each state has different laws regarding prenuptial agreements.
If you relocate, it’s a good idea to have an attorney review your
agreement to ensure it remains enforceable under your new state's laws.
Can a prenuptial agreement expire?
- Yes. Some prenups include a "sunset clause," which sets an expiration
date after a certain number of years or after a specific event, such as
the birth of a child. If there is no expiration clause, the agreement
typically remains in effect unless revoked or amended.
What happens if we never get married after signing a prenup?
- If the couple never marries, the prenuptial agreement does not take effect.
It is only legally binding upon marriage.
Can a prenuptial agreement be signed right before the wedding?
- While it is possible, signing a prenup too close to the wedding could raise
concerns about coercion. It’s best to draft and sign the agreement
well in advance to ensure both parties have time to review it carefully.
Do prenuptial agreements protect against a spouse’s debts?
- Yes. A prenup can specify that one spouse is not responsible for the other’s
pre-existing debts, protecting their financial future if the marriage ends.
Your Financial Security Is Our Priority
Prenuptial agreements are challenging and require precise drafting by an experienced attorney. We take great
care in creating personalized documents that will hold up in court if
challenged.
Our prenuptial agreement lawyers in Brooklyn insist on representing only
one individual when drawing up a premarital agreement. Your partner should
have legal representation as well. This limits the opportunities for either
spouse to challenge the premarital agreement by claiming he or she didn’t
have counsel or did not understand the documents being signed. We want
your prenuptial agreement to be bulletproof.
We have also
successfully challenged prenuptial agreements that were poorly drafted or improperly executed by other lawyers, resulting
in much larger property awards and more spousal support for our clients.
Have questions about prenuptial agreements?
Contact us at
(718) 550-3024 for personalized legal guidance and peace of mind.
