• ella4628

Got a Prenup?

Updated: Sep 25

Why Do Lawsuits Take So Long?

Plan For Life With A Prenup

Insights Before Marriage

Are you engaged? Do you want to learn more about the person you are engaged to? If yes, then ask for a prenup. And during negotiations, ask yourself: 1. Is your fiancé aware of his/her own finances? 2. How do they treat their finances? 3. Are they too tight or too lax with money? 4. Can they negotiate fairly? 5. Are they attempting to take more than the law allots? 6. When you tell them your point of view, how do they react? Are they hostile? Are they listening to your concerns and needs? Do they attempt to see your point of view? 7. On occasion, are they able to put your needs above their own?

Prenup Considerations

If you are asked or will ask for a prenuptial agreement, you should think about the following: 1. What is your marital and separate property? Generally speaking, assets and debts you have prior to your marriage are your separate property/debt. Assets acquired, income earned or debt take on during the marriage is marital property/debt. During a divorce, in New York, your separate property or debt will remain your own; and your marital property or debt the Court will divide equitably. Not equally, but equitably. 2. What are your separate properties or debts? Make a thorough list. 3. What is your and your soon-to-be spouse’s future earnings capacity? 4. Will you have children? Will you hire a nanny to care for the children? If not, will one of you stay home to care for your children? Will you need special provisions for the stay-at-home parent in your prenuptial agreement? 5. What is commingling of assets? This is when you mix your separate property with marital property. From mixing certain types of property, you risk turning separate property into marital property.  Example: Prior to your marriage, you own a securities account. The Court would consider this your separate property. But, during the marriage, you decide to join your securities account with your spouse’s. Upon making the transfer, your securities account may lose its separate property characteristic and morph into marital property to be distributed equitably during a divorce proceeding.