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It is no secret that a prenuptial agreement can be a very sensitive topic for some people who intend to marry. What differentiates Early Family Law from other law forms is that Latonia looks at what you’re seeking in an agreement from an emotional standpoint. After listening to her clients and understanding what they are trying to accomplish, Latonia will present a few scenarios to her clients to see that their intentions are met in the prenuptial agreement.
Latonia ensures that all prenuptial agreements are written in plain English so there is no need to translate or decipher between things. Agreements that are written in simpler terms lead to fewer arguments than those using too much legalese.
A prenuptial agreement is essentially a contract between you and your spouse that is entered before marriage stating what would happen if the marriage ended. In a prenuptial agreement, you and your spouse disclose to each other all the money and property you own before getting married. Then, both parties set forth the rights, responsibilities, and how money and property will be divided in the event of divorce.
Topics that may be covered in a prenup are:
It is especially advisable to execute a prenuptial agreement to avoid a potential legal battle in a high net worth divorce. If you take the time to clearly define the equitable distribution of any wealth you accumulate during the marriage or assets you possessed before the marriage, the chances that you will end up in a contested divorce will be far less.
One may benefit from a prenuptial agreement if they make a significantly higher salary than their spouse. This will secure a spouse’s money in the event of a divorce. A prenuptial agreement may also be useful in the event of one spouse’s debt. If one spouse has a lot of debt, whether it was incurred before or during the marriage, divorce proceedings may identify both spouses responsible for the debt.
The attorneys will then sift through the interrogatory documents and question the spouses under oath, at what is called a “deposition.” A deposition takes place in the presence of a court reporter who later transcribes what was said into a transcript.
Third parties who have relevant information, such as business partners, bookkeepers, and accountants may be questioned at a deposition as well as asked to present discovery documentation. If a third party is non-compliant, they can be served a discovery subpoena.
It is crucial that those contemplating or experiencing divorce understand the full spectrum of the process as a contested divorce could be quite complex. Too often, what starts out as uncontested becomes contested and vice versa, leading the path of divorce to take many turns. Therefore, it is imperative to have a knowledgeable and experienced divorce attorney by your side.
In order for a prenuptial agreement to be valid in New York State, it must be in writing, signed by both parties, and notarized. It must also be entered voluntarily with full disclosure of the parties’ current assets at the time.
If a prenuptial agreement is executed incorrectly, it may be tossed out of court. This could be disastrous in the event of a divorce proceeding. For this reason, it is imperative that you contact an experienced prenup attorney first to seek guidance before drafting a prenuptial agreement. Latonia at Early Family Law can see to it that the process is handled right the first time, and that your best interests are upheld. Latonia will work with you and your spouse to draft a prenuptial agreement that is tailored to your unique relationship.
Questions about prenuptial agreements?
Latonia Early-Hubelbank is here to help and give a detailed breakdown.