Prenuptial agreements are often accompanied by a negative stigma and can fall victim to misconceptions. However, they really should be understood as a useful tool for couples considering marriage. A prenuptial agreement can be helpful for any couple, not just wealthy couples. Prenuptial agreements have many advantages for any couple entering marriage, so it is useful to understand them.
Prenuptial agreements serve as a tool to help couples in New York prepare for marriage and address concerns down the road if the marriage does not work out. Unfortunately, the statistics do not favor all marriages working out, which is why prenuptial agreements can be useful to help couples contemplating marriage protect their interests.
Prenuptial agreements can save time, money and acrimony should the couple divorce. Without a prenuptial agreement, property is divided during divorce according to New York’s equitable division principles. This may result in a property division settlement that does not align with the wishes or interests of the couple. Therefore, having a prenuptial agreement in advance that addresses property division in a divorce can be helpful. A prenuptial agreement can address these potential concerns early on and create an open line of communication about finances between the couple.
Because there are important requirements that must be met for a prenuptial agreement to be valid, it is essential for couples considering the benefits of a prenuptial agreement to be familiar with what those requirements are. Prenuptial agreements are worth taking a second look at, because they are oftentimes misunderstood. However, they can be worth it in the long run.