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The Importance of Prenuptial and Postnuptial Agreements

In the excitement of getting married, it can be easy to overlook the importance of a prenuptial or postnuptial agreement. Postnuptial and prenuptial agreements are very similar with one noteable difference - postnuptial agreements are signed after entering a marriage, while prenuptial agreements are signed beforehand. Having a discussion with a soon-to-be spouse on what happens to your property and assets should the marriage end is never an easy conversation, but taking a proactive approach can be beneficial in the long run.

Keeps Finances Separate

Throughout the course of your marriage, you and your spouse will accumulate marital or community property. If the marriage should come to an end, the assets will either be left in the hands of the court to divide, or will be divided according to what’s stated in the agreement. Your valuable assets are at risk of being mishandled if you don’t discuss how they will be managed beforehand.

Protects Each Spouse From Debts

Both you and your spouse may bring in debts that have been accrued separately before the marriage. If the marriage comes to and end with no agreement between the two of you, creditors can take marital property and use it to pay off the debts of a spouse. A prenuptial or postnuptial contract can put a limit on your responsibility of a spouse’s debts.

Defines How Family Law Issues are Handled

A prenuptial or postnuptial agreement can clarify how family law issues will be handled in the event of a divorce. Child custody, child support, and alimony are all hot topics that can be highly contested if not properly addressed in a contract. Having these line items in the agreement can help avoid stressful courtroom litigation, which will save you time and money.

The Meyers Law Group, P.C. is a family law firm that focuses on divorce. Our Long Island divorce attorney offers legal representation that is compassionate and caring. When you hire our legal services, you can trust that your best interests are prioritized from start to finish. Call us today at (631) 784-7722 to schedule your consultation.