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Why you need Bronx Prenuptial Lawyers and Premarital Contract Drafters
Bronx divorce attorneys encourage the residents who plan to marry to have a prenuptial agreement. Having witnessed hundreds of couples engage in costly and vicious legal battles after divorce, Bronx prenuptial lawyers know it is essential for couples to enter into a binding premarital agreement.
Prenuptial Agreements Explained
A prenuptial agreement, which family law attorneys in Bronx also call prenup or premarital contract, is a legally recognized deal between future spouses. In the prenup, the prospective marriage partners reveal to each other the property and money they own. The contract can also list the responsibilities and rights of the partners during the marriage. Further, the premarital agreement can explain the division of money and property if divorce or death affects the marital union.
What Marital Issues does a Prenuptial Agreements Address?
In New York, the family law can determine how to divide property if a marriage ends in death or divorce. However, courts can recognize the prenuptial agreements and agree to grant the wishes of the spouses as outlined in the prenup. The prenuptial contract will give you control and management of your assets and deny the state the power to direct the division of your property. A prenup may focus on the marriage matters below:
A Definition of Separate Property
Separate property, in your name, includes the assets and finances the spouse brings to the marriage. You may agree to disconnect from the marriage the property belonging to each spouse. The contract should specify that only the property acquired after the marriage will become matrimonial assets. If you fail to sign a prenuptial agreement, your separate property may become marital property, which is subject to an equal division in a divorce.
Identification of Marital Property
During the negotiations of the marriage, Bronx prenuptial lawyers will not only help you to draft your prenup but also disclose the assets you want to be classified as marital property. You possibly have some separate property that you wish to donate as matrimonial belongings.
Spousal Maintenance and Child Support
Establishing the terms of the types maintenance your spouse requires can help to prevent conflicts in marriage. If your partner stops working to care for the kids, you should outline the partner meets financial needs. In case the marriage partner brings children from a former marital arrangement, your prenuptial agreement must identify the party to support the children’s education, medical care and basic daily needs.
The kids from the prior marriage, especially the minors, may face the risk of disinheritance if your partner fails to formally adopt them in the prenuptial agreement. Your prenup can ensure that the children will continue to be provided for in the post-divorce period. Also, the contract will explain the nature of support the spouse is entitled to and the person to cater for the financial support after divorce.
The Pre-Marriage Debt and Liabilities
How do you handle the substantial debts your future husband or wife has? The prenuptial contract can state that the liabilities, be they education loans, home mortgage, car loan, or business loans remain with the spouse.
Child Custody and Visitation
If your former spouse has visitation rights, while you are the custodial parent, it is honest for you to open up so that the premarital agreement can include the permission for the former partner to visit the current matrimonial home or to pick up the child.
Things to Avoid in Prenuptial Agreements
Courts in Bronx cannot sanction prenups you sign under duress or coercion. Further, for a prenuptial agreement to gain acceptance, you must avoid fraud, for example, the failure to disclose some assets or debts.