New York City Marital Agreement Lawyers
Marital agreements, or prenuptial or postnuptial agreements, are legally binding contracts that couples enter into to define the terms of their relationship, mainly regarding property and financial matters. These agreements have become increasingly commonplace in New York City, providing a proactive approach for couples to safeguard their individual rights and interests.
Couples may opt for a marital agreement for many reasons. These contracts clarify each party’s financial rights and obligations should the marriage end in divorce or the death of either party. They simplify property division and minimize potential disputes that could arise during divorce proceedings, thus reducing likely stress and costly legal fees. The agreement also allows for the protection of assets, ensuring the preservation of wealth for future generations.
Working with the Law Offices of Norka M. Schell, LLC in creating, negotiating, or reviewing your agreement protects your interests. Our firm brings over 30 years of family law experience, including the intricacies of marital agreements. We provide personalized legal counsel tailored to your unique circumstances, guiding you throughout the process.
Reserve your consultation with a New York City marital agreement attorney by contacting us at (212) 258-0713.
What Does a Marital Agreement Cover?
A comprehensive marital agreement in New York City typically covers the following issues:
- Asset protection: This includes real estate properties, investments, business interests, and personal items. The agreement outlines how these assets will be divided upon divorce.
- Debt liability: This establishes who is responsible for debts incurred before and during the marriage, protecting one party from the other’s liabilities.
- Spousal support: It addresses the issue of alimony, including its amount and duration.
- Property division: The agreement provides for an equitable distribution of marital property, avoiding the state’s default rules.
- Inheritance rights: It can be used to protect the inheritance rights of children from previous relationships.
What Is the Difference Between a Prenuptial & Postnuptial Agreement?
The difference between a prenuptial agreement and a postnuptial agreement lies in the timing. A prenuptial agreement is signed before marriage, whereas a postnuptial agreement is signed after the couple has married. Regardless of the type, both agreements serve a similar purpose - to protect individual rights and set clear expectations for the financial aspects of the marriage.
Why Choose Law Offices Of Norka M. Schell?
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Three Decades of ExcellenceOver 30 years of dedicated legal practice, offering seasoned experience and deep-rooted knowledge.
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Multilingual ExpertiseFluency in Spanish and Portuguese to ensure seamless communication and understanding for our diverse clientele.
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Extensive Clientele SupportHaving assisted thousands of clients, we understand unique needs and offer tailored solutions for each individual or business.
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Family-Centric ApproachEmbracing a family-oriented ethos in our practice, where clients are treated with the care and respect they deserve, fostering lasting relationships built on trust.
What Couples Benefit from Having a Marital Agreement?
All individuals who are about to be married or already married and have any property or assets can benefit from these agreements. Certain couples, however, may benefit more.
These include:
- High net worth Individuals: They often have significant assets they wish to protect. A marital agreement can provide a framework for protecting these assets in the event of divorce.
- Business owners: A business owner may wish to separate their business from their marital assets. A marital agreement can provide clarity and protect the business from being divided in a divorce.
- Second or subsequent marriages: Individuals entering their second or subsequent marriages, particularly those with children from previous relationships, often find marital agreements beneficial. It allows them to protect their children’s inheritance rights and ensure a fair property division.
- Couples with significant debt: If one or both parties have substantial debt, a marital agreement can protect the other party from having to assume responsibility for this debt in the event of a divorce.
Couples with a significant disparity in earnings or assets: When there’s a large income or asset discrepancy between the partners, these agreements can help ensure a fair distribution of assets and define any spousal support obligations
Legal Requirements for Marital Agreements
To ensure the validity of a marital agreement in New York City, it must be in writing and signed by both parties. It should be executed voluntarily without undue influence, coercion, or fraud. Each party must fully disclose their assets and liabilities, and the agreement terms should not be egregiously unfair.
At the Law Offices of Norka M. Schell, LLC, we understand the importance of addressing these sensitive issues with tact and proficiency. Our experienced team can provide insightful counsel to help you navigate the complexities of marital agreements.
Discuss your needs and concerns with a New York City marital agreement lawyer. Contact us online or call a team member at (212) 258-0713 today
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