Prenuptial agreements in New York marriages are more common than ever. According to a survey by the American Academy of Matrimonial Lawyers, prenuptial agreements have increased in recent years, and the top reason 80 percent of respondents gave for the prenup is “protection of separate property.”
Although a prenuptial agreement can do much to set “ground rules” for how to handle property and other issues in a marriage, seeking one is a decision no couple should enter lightly. Here are three things that experienced New York prenuptial agreement lawyers recommend that partners consider before asking for a prenuptial agreement:
- Decide how you’ll bring up the topic of a prenuptial agreement. Prenuptial agreements can be hard to discuss. Many people still believe that a prenuptial agreement implies a lack of trust in a spouse or a lack of romance in a relationship. Even if both of these notions are clearly false, bringing up a prenuptial agreement can still be a delicate matter. Use what you know about your partner to decide when, where and how to mention the topic.
- Do you need a prenuptial agreement? The vast majority of prenuptial agreements protect assets that one or both partners bring into the marriage when it begins. For some couples, a prenup is unnecessary paperwork; for others, it is a crucial tool for protecting both partners’ financial interests. Look at your assets, their sources and your plans for the marriage (How will expenses be shared? Who will stay home with the kids?) when deciding whether you need a prenuptial agreement.
- Consider using a prenuptial agreement to discuss finances. Approaching a prenuptial agreement as a way to discuss your financial situation now and what both of you want out of the marriage can be one way to take the “sting” out of a potentially tricky topic while also helping you lay the “ground rules” and clarify what really needs to be in the agreement.
The knowledgeable attorneys at the Law Offices of Paul A. Boronow, PC can help you and your spouse draw up a prenuptial agreement. Call us at (516) 227-5353 for more information.