Recently we have gotten several phone calls to our office regarding Prenuptial Agreements. There seems to be a growing desire for such agreements due to the rising divorce rates in our country. Surprisingly, we have also received some questions regarding Postnuptial Agreements. It has come to our attention that there seems to be some confusion out there regarding such agreements.
These agreements are necessary to provide protection for certain types of assets. They are not necessary to protect separate assets as defined by the NY DRL. Knowing the difference between separate and marital property will go along way towards helping you decide if you need one of these agreements.
Postuptial agreements serve the same purpose as prenuptial agreements. The difference is in the timing. Postnuptial agreements are executed after the parties are married. They are much more rare because it may be a daunting task to ask your spouse to sign something of that nature. However, it is something that can be presented as mutually beneficial.
These documents can be tedious and should be executed by an attorney. Problems can arise when these types of agreements are taken to task in litigation, and they are not artfully drafted. Proper wording is necessary to grasp the authority and protection of the law. As always, we are here to help you prepare these documents.
Feel free to call us at (516) 858-2620!