Why Do You Need a Prenuptial Agreement?
As the recent divorce announcement of Amazon mogul Jeff Bezos illustrates, a prenuptial agreement can protect against devastating loss in the event of divorce. Although most of us do not go into a marriage thinking about finances, it is important to consider all possible outcomes any time you are making a decision that involves the government and your finances. Many couples even choose to spell out money management plans within the marriage in their prenuptial agreement, as it is not just a document for divorce. In Bezos’ case, a postnuptial agreement would have been helpful in protecting assets as they grew from the success of Amazon. Furthermore, Bezos’ business ventures in whole could have been handled during the divorce with more predictability with the addition of a postnuptial. Our team of understanding and experienced Long Island prenuptial agreement attorneys at Law Offices of Sandra M. Radna, P.C. can help you create a prenuptial or postnuptial agreement that suits your specific needs while making sure it meets the criteria for a legally binding arrangement.
What Can a Prenuptial Agreement Include?
Your prenuptial agreement can cover the following topics:
- Financial expectations within your marriage
- Protection of family heirlooms and assets
- Retirement plans and savings
- Debt allocation
- Businesses (ownership, dividends, etc.)
- Bank accounts (joint or separate)
By creating a prenuptial agreement, you are protecting both parties if one spouse has significant debt, one spouse has significant assets or if there is a business involved. It is best to plan for any extremes before the marriage begins so that no one is left in the dark. As Jeff Bezos is learning, depending on the state in which you live, a divorce can greatly impact business owners and their subsequent assets. A prenuptial agreement would have protected the expectations of both parties while preventing surprises at the time of divorce.
Let Us Draft Your Prenuptial Agreement
If you are engaged and you have concerns about the “what ifs” of divorce, it pays to discuss a prenuptial agreement with a member of our team. Our experienced family law attorneys can help you determine the details that will best benefit you in your prenuptial agreement while being sensitive to the marriage values that you and your future spouse share. Our team understands that you must protect well-earned savings, inheritances and other assets even when you are excited about living “happily ever after.” Let us take the stress out of prenuptial agreements and the legal process involved, so that you can focus on your upcoming wedding.
Contact our teamto discuss your unique circumstances today at (631) 400-3342.