Say "I Do" to Prenuptial AgreementsMonday, July 27th, 2015, 1:31 pm
A prenuptial agreement may seem like something reserved only for the super-rich and super-famous, but with divorce rates rising, the number of people opting to draft a prenuptial agreement before saying “I do” is on the rise, too. While planning for a wedding, talking about what should happen in the event of your divorce may seem a bit cynical, but going through this legal process now could end up saving you some financial and emotional turmoil in the future. So, how do you know if you and your spouse-to-be should consider a prenuptial agreement, and what are the benefits of doing so?
When filing for divorce without a prenuptial agreement, the state of New York will divide your assets in the manner they see fit – leaving ambiguity about whose hands your most personal belongings could end up in.
When most of us think of a prenuptial agreement, we envision a rich and famous celebrity preparing to marry someone less well-off. But prenuptial agreements are not only for the protection of potential gold-diggers; they can account for debt management, or ensure a stay-at-home mom or dad receives compensation for their contribution to the family. That way, you are not left paying off your ex-spouse’s student loans, credit card debt, or other financial obligation.
A prenuptial agreement can provide financial security for both parties, and gives you the opportunity to come to an agreement before the divorce turns dirty. Many divorces turn hateful and bitter, meaning when it comes time to divide the assets, both parties are left fighting over their belongings out of spite. When a prenuptial agreement is in place and created with a loving heart, each spouse can be given what they truly deserve.
Having the conversation about a prenuptial agreement with your soon-to-be spouse can be an awkward one, but it also could be a necessary one. When entering into a marriage, the last thing you want to think about is what should happen if it doesn’t work out, but with a prenuptial agreement, you will at least know you are covered should things take a turn for the worse.
FK Law Group indivuiduals throughout Queens and New York City who need legal guidance and experienced counsel throughout the prenuptial process. Contact the Queens office of FK Law Group at 800-631-1757 for information on premarital agreements and any other family or divorce law matter.