Here are some of the benefits of getting a prenup today
A prenup is not just for the rich, or individuals with tons of assets. Today, more couples are making use of prenups rather than divorces. Divorce, while providing an immediate sense of closure, does not resolve any long term issues. Many marriages end in divorce because one of the spouses can’t agree on property division, child custody and alimony. When these issues are left to chance or can’t be resolved through marriage, it might be time to consider prenuptial agreements. These separate legal documents outline how property and money will be divided in the case of a separation or divorce.
Another benefit of getting a prenup before you get married is child support. If you have children or plan on having children, then you know that the division of financial and custodial duties can be very complex and difficult to resolve without a prenup. By putting down a set amount of money that will be shared between you and your spouse in the case of divorce, you can help both of you settle these issues before they come up.
What about spousal support?
If you share finances and/or custodial responsibility of a child, but there is no prenup mentioned, your spouse may be unable to continue paying if they become unemployed or become ill. When your divorce is final, you both stand to lose income from the separation or unemployment. This is why it’s so important to get a prenuptial agreement drafted and signed by both you and your spouse prior to marriage. This document outlines the division of property and financial responsibilities that are spelled out in your state laws.
New York offers several spousal support laws for the same reason that the prenuptial agreement is so important: it guarantees that your spouse will receive his or her fair share of the wealth created during the marriage. As long as the agreement is drawn up by a licensed New York lawyer, and it doesn’t include provisions that favor one spouse over the other (such as child support), then you both stand to gain something out of the marriage. In some states, alimony may be awarded at the time of the divorce; this is determined by state laws and can vary greatly. But in either case, the agreement can divide up or divide down the assets and responsibilities equally.
Divorce, especially a New York divorce, is stressful and painful. If you and your spouse did everything you can to make your marriage work, then don’t let the world end up deciding that you’re not good enough for each other. By taking a little time to get together and draw up a Prenuptial Agreement, you can ensure that you will have your life and your property protected in the years to come, while ensuring that your divorce will go as smoothly as possible.