Making Financial Plans Before Your Wedding Day
A prenuptial agreement is a contract between two parties who plan to get married and desire to make binding financial decisions before their wedding day. A prenuptial agreement can prevent time-consuming and costly disputes if the parties divorce later in life or one spouse dies. This type of contract helps you effectively plan your life together and prevents arguments over money in the future.
The state’s marital agreements are governed by New York Domestic Relations Law, which sets forth what types of agreements can be made in a premarital contract. In general, parties can agree to the division of property, alimony and custody or care of their children. It is important to note, however, that provisions regarding children are often strictly construed because courts want to protect the rights of children. Therefore, courts consider agreements made in a prenuptial agreement regarding child custody and support, but they are not bound by them.
The court considers numerous factors in determining whether a prenuptial agreement is valid:
- The contract must be in writing and properly signed by both parties.
- The agreements must be fair and reasonable at the time they were made. An agreement based on fraud or deceit is likely not valid.
- Both parties entered into the agreement voluntarily and without duress.
If you are engaged to be married and you are interested in learning more about prenuptial agreements, a skilled family law attorney can help you understand all of your legal options. A lawyer experienced in handling marital agreements can protect your rights and help you obtain a fair result.