Prenuptial agreements are becoming essential for many couples in New York. With the great variety of family histories couples bring to a marriage, there is often a need to direct assets or personal property to a child from a prior marriage or to protect certain assets from becoming marital property. Individuals contemplating marriage have the right to decide, in advance, how their assets and liabilities will be distributed and other legal rights shall be determined in the event of a divorce or upon the death of one of the spouses.
Some of the issues covered by prenuptial agreements are spousal support or maintenance; preservation of separate property; distribution of the appreciation in value of separate property during the marriage; distribution of subsequently-acquired marital assets and marital liabilities; life insurance coverage; health insurance coverage; distribution of personal property, bank accounts, investments, retirement accounts and other assets; and the obligations by either party to provide, upon his or her death, for the other.
Prenuptial agreements are very time sensitive. It is important to consider the agreement with sufficient time prior to the marriage. Otherwise, should the agreement ever come into effect, there may be a dispute that an individual was coerced. In addition to drafting these agreements, Zimmer & Associates also have the experience and trial skills to successfully litigate the agreement.
If these issues were not addressed in a prenuptial agreement, they can also be addressed after the marriage, in what is known as a post nuptial agreement. Zimmer & Associates experienced attorneys can assist you in this regard.