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Legal Rights & Obligations With Prenuptial Agreements

A prenuptial agreement is very similar to insurance policies in the sense that you go to the trouble of getting one but hope you’ll never have any use for it. With the staggering number of divorces occurring in the first 7 years of marriage recently (roughly half of all couples in the most recent decade go through divorce), you and yours should at least consider the option before getting married.

Nobody knows what the future brings and, purely statistically speaking, there is a good chance that you find yourself going through a costly and emotionally taxing divorce. A prenuptial agreement is a precaution that benefits both parties.

What is a prenuptial agreement exactly?

A prenuptial agreement or a prenup, is a signed agreement between two people who want to get married. The document lists down their rights and obligations in the event of a divorce and includes information on how their assets and properties should be divided.

Why go to the trouble of getting one?

Divorces are rarely ever clean and smooth processes. Disagreements on how to split assets are very common and are often accompanied by biased feelings from one or both parties. There are disagreements on assets such as stocks, houses, bonds, and finances. There is also the issue of alimony which would take a whole other article to discuss.

How does the typical prenuptial agreement “work”?

Let’s say that the husband has $250,000 to his name before his marriage. A prenuptial agreement allows him to keep that same $250,000 after a divorce and can also include all assets bought with that same $250,000 depending on the prenup. If the prenuptial agreement were not in place, the wife would likely be awarded half or more of that $250,000. It depends on the financial circumstances of both parties.

I don’t have large assets, should I still get a prenup?

Not too long ago, only those with substantial estates had commonly gotten prenuptial agreements. But everybody, regardless of what they own now, always has something to protect. The future brings unlimited possibilities and you can never be sure what you’ll become. You could start a company and make a fortune or find yourself in a lucrative profession. Before dismissing a prenup entirely, take a good look at your situation and decide whether or not you want to take measures to safeguard your long-term future

What can prenuptial agreements cover?

Prenuptial agreements can be simple documents with only a few pages with clear and concise means of separating your assets from your spouse’s. It can also be very complex and taking up dozens of pages covering all possible angles such as income, debts, alimony, children, and countless other things.

How do I bring it up with my future spouse?

It all boils down to this. For most couples, this is an awkward and difficult issue to bring up that requires good timing. Generally, you will want to do it sooner rather than later and give your future spouse time to digest and take this fact in. Some days or weeks before your scheduled marriage is not an ideal time to raise the issue. You should both take time to negotiate the “prenup” terms until both of you feel it is fair.

Others have tried passing the responsibility to someone else and saying their parents or their business partner demanded it of them for their own security. But honesty in the matter typically yields better results.

If you find it difficult to approach, remember that there are different perspectives to everything. A prenuptial agreement completely bares all your assets to your future spouse — giving them a deep and detailed look at your financial worth. Deep trust is needed within both parties for such openness.

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Getting Divorced In NY- Basic Laws

In New York, when a marriage is legally terminated, there are two terms that refer to one and the same meaning: ‘Divorce’ and ‘Dissolution of Marriage.’ If you are among those planning and deciding to legally end your marriage, there are procedures that you need to undergo before you are given the ‘Divorced’ status.

 

Couples obtain a judicial decree through a court judgment. The judicial decree declares the dissolution of marriage and when it has been legally finalized. Couples are free to marry again but with some restrictions depending on some jurisdictions.

 

The divorce process may need to address some matters depending on the couple. Such as circumstances where both own properties and if they have any children are subject to the provisions to be made.  There may be division of properties and bills and at the same time, alimony, child custody, child support, spousal support, child visitation rights, and other relevant matters that need to be resolved.

 

At the start of the divorce, if the couple comes to an agreement on relevant issues they can have an uncontested divorce that lets them proceed with the succeeding steps in the divorce process unhampered. Uncontested divorces are much easier and faster and you may not need legal counsel.

 

Other couples do reach an agreement so soon with regards to the issues and the termination of their marriage. This is a contested divorce and these types of divorce are typically complicated and drawn out procedures. Legal counsel becomes necessary, with judicial intervention, in order to conclude the divorce procedures and and to work out terms agreeable to both parties.

 

Each state of the US may have its own codes, laws, and rules in handling marriage termination but there are common laws in all the states. There is hardly any uniformity and the divorce law and procedures in every state varies.

 

Though divorce law basics may sound simple enough, there are a few minimum requirements to get the divorce.

 

  • You must reside in your state for a specific period of time. While other states don’t require residency, a quick divorce may not be possible in some states.

 

  • The divorce must be filed in the state where you live and not where you and your spouse got married.

 

  • While other states are not that particular on this, some states require that both spouses have lived apart from each other for a certain period of time before they can file for divorce. Theory behind this is to ensure that both spouses are decided to live in separate ways. Make sure to ask your local attorney about the contested and uncontested divorce policies in your area.

These are just the basic divorce laws but it is always best to consult a divorce lawyer before filing your case to make it easier for you. Different states have different divorce laws and regulations. Make sure to get a divorce lawyer you can talk with freely so that they can more easily assist you with successfully filing for divorce and working out agreeable terms to expedite the procedure.

Aronov Esq Contested Divorce Lawyer 98-14 Queens Boulevard Flushing, NY 11374 (718) 206-2050 divorcelawyernys.com

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Invest Time Into Finding A Good Divorce Attorney

Should you ever find yourself needing a divorce lawyer remember to keep a cool head and pick the best legal representation you can find. No two matrimonial break-ups are similar so you must make sure to hire someone that understands your needs and has experience in cases similar to yours.The importance of finding someone that you can effectively communicate your feelings and instructions to will make all the difference in your case. So how do you find a such a lawyer? You can try asking for recommendations from people you know or maybe check out the internet. You shouldn’t place too much importance on recommendations from other people though, what is more important is that you see eye-to-eye with your chosen legal representative.

If you find yourself stuck in the search try looking for a list of matrimonial attorneys in your area and visiting at least 3 of them. This gives you different options and you’ll have more basis for comparison. It wouldn’t be a bad idea to bring a trusted friend with you when first meeting the potential candidate so you can get a different as well as an impartial opinion on them.

Because of the nature of their work, divorce lawyers are almost always experts in family law as well. This is an aspect of the legal system that strongly affects families futures, and the current state of mind of each family member. It would be very helpful if your chosen representative is also experienced in this aspect of the law.

Due to the delicate nature of divorces, it is recommended not to make any major decisions or do anything that may possibly influence your legal rights. Consult a lawyer for those kinds of things to make sure you don’t hurt your case by accident. You’ll need to meet them so you can interview each other and see if you are comfortable with each other.

A few other questions to prepare to ask.

  • Can I see your references?
  • How will we stay in touch?
  • How much will I pay in fees?
  • How did you resolve a similar case to mine?

Make sure you also familiarize yourself with the laws in your state. Divorce laws are different in every state. Whether the break-up is contested or uncontested by the involved parties will also make a big difference. Ask your lawyer about child custody, the inclusion of your property, and the laws in your state. Also, get your lawyer’s opinion and views on litigation and resolution.

There are various other reasons you need to make sure the representative you hire will have your best interests at heart but most importantly, you don’t get taken advantage of. Lots of people lose more than they should in lengthy contested divorce trials so in order to keep everything fair for you and the other party, it would really be worth it if you took the time to find a good potential divorce lawyer and sit down to talk to him or her to see if you see eye to eye.

Aronov Esq Contested Divorce Lawyer 88-02 136th St, Jamaica, NY 11418 (718) 206-2050 http://divorcelawyernys.com