When New Yorkers get married, they assume and hope that it will be for life. No one wants to think of all of the things that can go wrong in a marriage, but this type of thinking can harm people who have financial assets and other property to protect. Many people see prenuptial agreements as only pertaining to the wealthy. What many people don’t realize, though, is that anyone who is getting married can create a prenuptial agreement.
What are some situations where a prenuptial agreement would make sense?
A prenuptial agreement may make sense for you if you’ve been married before. People who have been married understand that a divorce can wreak financial havoc on a life. These people may want to get a prenuptial agreement to protect their existing assets in case their new marriage fails. This may be a great option for someone who had a prior divorce that put them into a financially precarious situation.
People who have children may also wish to consider getting a prenuptial agreement. These agreements could help protect inheritances and other assets that may be in jeopardy if people divorce. Lawyers may help people create documents like living trusts that will help protect their children’s financial interests.
Another great reason to get a prenuptial agreement is if one party is much wealthier than the other. A prenuptial agreement, in this case, will not only protect the wealthier party’s assets, but it can also set up a situation where the less wealthy partner receives protection and compensation in case of a divorce. This can help people walk into a marriage fairly.
Where can people go for information about setting up prenuptial agreements?
People who are looking for information on everything ranging from marriage to divorce to prenuptial agreements may benefit from working with lawyers who have experience in matrimonial law and estate planning. They can help with everything from creating prenuptial agreements to establishing trusts.