Post Nuptial Agreements
Prenuptial agreements get a lot of bad press because many feel that it is assumed the marriage is doomed if you are already preparing for divorce. Prenuptial agreements actually protect each party’s interest even within the marriage, not just in case of the end of it. Since prenups are also portrayed in the media as an upper-class issue, many people who are early in their careers don’t enter into marriage thinking of a prenup as a part of their world.
Things change. Doing well at work can lead to acquiring substantial assets and income that was never expected. Or, a windfall can lead to a significant change in circumstances. Post nuptial agreement NY can help.
What are Post Nuptial Agreements NY?
A post nuptial agreement is an agreement between spouses as to the rights and responsibilities of each individual in the marriage, including details of how things are to be handled should the marriage end.
What Should They Cover?
There are many factors to consider when it comes to what your post nuptial agreement should cover.
- Income Distributions. If there is more than one income, it may be decided that each individual contributes a particular percentage towards household expenses or that one covers particular expenses;
- Inheritance. Certain things that each individual brought into the marriage may wish to be kept with that family should the individuals split; and/or
- Child Interests. In addition to standard time allocations, agreements can include plans for school and extra curricular, including which individual handles what duties of each task.
What Can They Not Cover?
No agreement can be drafted in such a manner that it is heavily in the favor of one individual over the other.
Is It Ever Too Late to Create One?
It is too late to enter into a prenuptial agreement, but never too late for a post nuptial agreement.