Recently we have gotten several phone calls to our office regarding Prenuptial Agreements. There seems to be a growing desire for such agreements due to the rising divorce rates in our country. Surprisingly, we have also received some questions regarding Postnuptial Agreements. It has come to our attention that there seems to be some confusion out there regarding such agreements.
These agreements are necessary to provide protection for certain types of assets. They are not necessary to protect separate assets as defined by the NY DRL. Knowing the difference between separate and marital property will go along way towards helping you decide if you need one of these agreements.
Postuptial agreements serve the same purpose as prenuptial agreements. The difference is in the timing. Postnuptial agreements are executed after the parties are married. They are much more rare because it may be a daunting task to ask your spouse to sign something of that nature. However, it is something that can be presented as mutually beneficial.
These documents can be tedious and should be executed by an attorney. Problems can arise when these types of agreements are taken to task in litigation, and they are not artfully drafted. Proper wording is necessary to grasp the authority and protection of the law. As always, we are here to help you prepare these documents.
Feel free to call us at (516) 858-2620!
No Fault Divorce
No fault divorce in New York ?
With a bill pending that would allow New Yorkers to obtain a divorce under “No Fault” grounds, our office has been receiving some questions. I hope that this can clear some of those questions up for people. The bill would allow parties to terminate their marriage without meeting the requirements of the six traditional grounds for divorce in the New York Domestic Relations Law section 170. “No Fault” divorce therefore, in essence eliminates the issue of grounds from litigation. It is unquestionable that this does make it easier to obtain a divorce in New York. It is however, not as easy as it sounds. All other issues must be worked out or determined before a successful “No Fault” divorce can be granted. Therefore, maintenance issues (which also have a pending change forthcoming), child custody, visitation, child support, equitable distribution of property, etc., must all be resolved through traditional means.
Since grounds for which a divorce may be obtained are litigated on a lesser level than other matrimonial issues in the first place, this new development does not make things as easy as it sounds. When it does take effect however, New Yorkers will no longer be considered a “difficult” state to end a marriage due to the lack of “Irreconcilable Differences” as a ground.
If you have any further questions about this new development in New York Law, please feel free to contact the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 today!
Keep in Touch