Protecting Your Interests With Prenuptial Agreements
Couples planning for marriage should focus on the joy of a new commitment to each other. However, proactive couples should also consider creating a prenuptial agreement, especially if either spouse has been married before, has children from a previous marriage or has assets that require special protection. We at Ostertag O'Leary Barrett & Faulkner know the benefits of prenuptial agreements.
A prenuptial agreement should set out what will happen in the event of a divorce and/or death – just in case.
Once thought of as a sign that a couple did not have faith in the long-term viability of their relationship, prenuptial agreements are now recognized as what they really are: useful tools used to decide how assets should be handled if the marriage ends in divorce.
Similarly, many couples choose to live together and share their lives but not get married. In these situations, a cohabitation agreement can be used to spell out what should happen to the property if the relationship ends.
For Couples Getting Married
A prenuptial agreement is a contract that sets out what will happen in the event of a divorce and/or death. Couples sign them before marriage as part of marriage planning. Prenuptial agreements can be an especially good idea if either spouse has been married before, has children from a previous marriage or has assets that require special protection.
With the passage of the Marriage Equality Act in July 2011, which legalized same-sex marriage in New York, gay and lesbian couples now enjoy the same rights and responsibilities as heterosexual couples. Same-sex couples thinking about marriage can benefit from a well-crafted prenuptial agreement that defines their rights in the event of divorce.
For Couples Forgoing Marriage
A cohabitation agreement can be used to protect people who live together in long-term nonmarital relationships, whether heterosexual or same-sex. These agreements are particularly helpful when a party wants to take that next step with a partner such as starting a business together, purchasing property and/or commingling assets.
Because New York law does not protect unmarried couples the way it protects married couples, a cohabitation agreement can be used to build in protections you would not otherwise have and give you peace of mind.
Our lawyers have met the needs of couples throughout the Hudson Valley for decades. We have gained a reputation for effective and compassionate representation tailored to each client’s individual needs.
Let Us Help You Protect Your Future
Our depth of family law knowledge coupled with real-world problem-solving skills allows us to protect our clients’ interests in ways that often exceed their expectations. If you are considering a prenuptial agreement or cohabitation agreement, we can help you create a plan that protects your interests. Contact our office in Poughkeepsie by calling us at 845-330-0650 or sending us an email to schedule your initial consultation.