Prenuptial agreements are not uncommon these days as more and more couples are signing these documents either before taking their vows or adding it after the fact. Prenuptial agreements can take care of plenty of things for a married couple, even if they believe they will stay married forever. For some, a prenuptial agreement is simply a document used to settle issues that might come up in the future.
One of the most important things a prenuptial agreement can do is define separate property that is brought into the marriage. In most marriages, any property that is brought into it is considered separate property even in divorce unless you added your spouse’s name to that property during the marriage. A prenuptial agreement can specifically list which property remains separate should you get divorced.
The same can be said for marital property. Even if you both bring separate property into the marriage, you can use a prenuptial agreement to define it as marital property, if you so choose. This means the property will be divided equally upon divorce.
A prenuptial agreement can be very important when minor children are brought into a new marriage from a previous one. The agreement will help outline how the children will be supported should the new marriage end in divorce.
A prenup can also be used to establish which spouse will pay spousal support during and after a divorce goes final. Or, it could define that neither spouse will have to pay spousal support should the marriage end in divorce.
A prenuptial agreement can never be used to determine child custody or child support for an unborn child. The courts in New York are also required to determine child custody issues based on the best interest of the child. So anything outlined in a prenuptial agreement will ultimately be reviewed by the court before being approved or denied.
Visit our page today to learn more about prenuptial agreements in Oneida, New York and your rights prior to signing.