If you live in New York City, you may have seen the news last month that a Brooklyn court pulled out the marriage contract signed by a Long Island woman with her millionaire husband before her wedding in 1998. This is a precedent, and divorce lawyers sit nationally and take note. Will more of us try to reject pre-term agreements outside the courts? Long ago, a marriage contract was considered stodgy or even offensive, but today, „prenups“ are becoming more common for wealthy couples. In simple terms, a prenup formalizes the agreement between the spousal spouses, who of their property will become marital property, which will continue to belong to whom individually and, in the event of a break-up, the financial arrangements to be taken. In most cases, a preliminary investigation is conducted to protect the spouse with a greater separate fortune from the loss of an unfair share of those assets if the marriage were to end. You may already be married and think you`ve missed the opportunity to create this much-needed document to protect your financial interests. The good news is that you still have time to design a post-uptial agreement in its place. These agreements can contain many of the same benefits and values as a prenup. But they can be completed once the marriage is over, and the splendor of the new love has worn out a little. If you decide that a marriage deal is right for your union, it`s best not to store it at the last minute. No prenup is clothed in iron, and one thing it can invalidate is coercion. This may sound scary, but if a party can prove that it signed the contract under duress, it may be null and void. If the prenup was signed days or even hours before the wedding, it could reinforce the argument that someone was forced to accept it.
The truth is that marital agreements are for everyone, not just people who have money. In this article, you will discover exactly what a marriage agreement is, how it is used and how it can benefit you. You have met the person of your dreams, and you know that it is her for you. Now that you`re getting married, all your friends have told you that you might want to see a marital arrangement before you say, „I`m doing it.“ The problem is that you`re not sure you need it. After all, marital agreements are reserved for the rich and celebrities, aren`t they? Finally, and not least, the additional costs associated with the creation of the marriage contract are incurred. You and your partner need two separate lawyers, which means that monthly bills can start to add up fairly quickly. In addition to the cost of the wedding that is already coming, you may also have to pay legal fees, registration fees and court fees for completion.