Marital Agreements
Recently, we have received several questions regarding marital agreements such as prenuptial and separation agreements. The questions seem to focus on whether or not the agreements are binding. Primarily whether or not a court can decide to modify the terms of such agreements if they are deemed unfair. The truth of the matter is that these types of agreements are legal contracts. If executed in compliance of the required formalities, then these agreements are generally binding. Modifications to these agreements are permissible as long as both parties consent and follow the appropriate formalities for modifications. Courts, however, will tend not to modify the terms of such agreements unless there are extenuating circumstances. It is not an easy task to convince a judge to alter or void the terms of these marital agreements. One exception to this general conclusory statement is when the best interest of an involved child would dictate that the Court intervene and impose its will. These agreements are very intricate and the necessary terminology can be the difference in whether one of these marital agreements are valid and enforceable or possibly declared void and meaningless. As always, please call the Law Firm of Vaughn, Weber & Prakope, PLLC at (516) 858-2620 to speak to a family law attorney!
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!
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