How to Get a Prenuptial Agreement in New York

There are many tasks to complete after you and your partner decide to get married. While you might want to focus primarily on planning the details of your big day, you should also give yourself time to consider the practical side of things. Since marriage is a legally binding contract, you need to know the ins and outs of how to protect yourself and your assets in the event that marriage ends in separation, divorce, or death. One sensible choice to consider is a prenup. Review these tips to learn more about obtaining a prenuptial agreement in New York.

How Prenuptial Agreements Work

A premarital agreement is a contract meant to detail the division of assets and financial responsibilities should a couple decide to separate or divorce after getting married. If you or your partner have children from another marriage, a prenup also dictates their inheritances should you or your spouse pass away. In New York, these agreements include both the assets owned by individuals before marriage and the assets acquired throughout the duration of the union. Assets included in a prenup can range from real estate to funds held in bank accounts to vehicles.

It is important to note that a prenup cannot include any information about the custody or support of future children you have with your spouse. In the event of divorce, you and your spouse will need to work out these details together or through the family court system.

Steps for Getting a Prenup in New York

Step 1: Review Your Assets and Debts

To get started on creating your prenuptial agreement, you must first review all of the assets you will be bringing into the marriage. Next, you need to create a plan with your partner on how assets acquired during your union will be split in the event of divorce or separation. In New York, a prenup must be equitable to both spouses. Should one of you have significantly more wealth than the other, the breakdown of who gets what has to be considered fair. Standard premarital agreements also include future assets like retirement account funds and potential inheritances.

A prenup should also include all existing debts. If your partner has more debt than you, for example, an agreement can work to protect you from taking on this debt while married or if the union does not work out.

Step 2: Hire Legal Professionals

Since a prenup is a legally enforceable contract, you and your partner must both hire attorneys to create and review the document before it is signed. Legal professionals help to guarantee that the document is equitable to both parties. Additionally, your attorney can attest to the fact that you are not under duress while deciding on the agreement or being coerced into signing anything against your will.

Step 3: Sign the Document Before a Witness

When the time comes to sign the prenuptial agreement, you must do so in the presence of a witness. While your individual attorneys can act as witnesses, the law in New York also states that a notary public will suffice. Having a witness present guarantees that the documents are being signed of your own free will and that neither party is being forced into the agreement.

Step 4: Commit to the Marriage

In New York, a prenuptial agreement is only valid after a couple officially weds. Should you decide to end your engagement before marriage, the contract you have created will no longer be valid. This means finalizing the document is entirely dependent on whether you both decide to commit to getting married.

Conclusion

A prenup helps you to protect yourself and your assets in the event that your marriage ends in divorce, separation, or death. Be sure to contact a licensed legal professional to learn all there is to know about creating a prenuptial agreement in New York.