Prenuptial agreements have become increasingly popular in recent years,
and for good reason. These legal documents can help protect both parties
in a marriage, ensuring that assets and liabilities are distributed fairly
in the event of a divorce.
As a seasoned psychologically trained family law attorney/mediator, I have
guided thousands of women in particular, and developed creative prenuptial
agreements as an important tool for securing their financial stability
and protecting their interests.
Here are my top 11 tips for what women should ask for in a prenuptial agreement:
1. Disclosure of Assets and Debts
One of the most important elements of any prenup is full disclosure of
assets and debts. This means that both parties must be completely transparent
about their finances, including bank accounts, investments, real estate,
and any outstanding debts. Women should make sure that their future spouse
is willing to provide this information and that they have a complete understanding
of their partner’s financial situation.
2. Separate Property
Separate property refers to any assets that were owned by either party
before the marriage, or that are going to be inherited or gifted during
the marriage. Women should make sure that their prenup includes provisions
to protect their separate property, so that they can keep these assets
in the event of a divorce.
3. Alimony and Spousal Support
Alimony, also known as spousal support, is a payment made from one spouse
to the other after a divorce. Women should consider whether they want
to include provisions for alimony in their prenup, and if so, what the
terms of the payment should be. For example, the prenup might specify
the duration of the payment, the amount of the payment, and under what
circumstances the payment might be modified or terminated. Sometimes one
spouse stays at home to care for a child and is out of the job market.
This needs to be considered.
4. Division of Marital Property
Marital property refers to any assets that were acquired during the marriage,
including real estate, investments, and income. Women should make sure
that their prenup includes provisions for the division of marital property
in the event of a divorce. This might include a specific percentage of
the assets that each party is entitled to, or other arrangements that
are fair and equitable.
5. Retirement Accounts
Retirement accounts, such as 401(k)s and IRAs, can be some of the most
valuable assets that a couple owns. Women should make sure that their
prenup includes provisions to protect these accounts, such as specifying
how they will be divided in the event of a divorce.
6. Protection of Business Interests
If a woman owns a business, she should make sure that her prenup includes
provisions to protect her business interests. This might include specifying
how the business will be valued in the event of a divorce, and how the
value of the business will be divided between the parties.
7. Inheritance
If a woman expects to receive an inheritance in the future, she should
make sure that her prenup includes provisions to protect this asset. This
might include specifying that the inheritance will remain separate property
and will not be subject to division in the event of a divorce. Any inheritance
should not be put into a joint account.
8. Limitation of Debt Liability
Women should make sure that their prenup includes provisions to limit their
liability for any debts incurred by their spouse. This might include specifying
that each party will be responsible for their own debts, or limiting the
amount of debt that each party is liable.
9. Child Custody and Support
If the couple has children, the prenup could include provisions for child
custody and support in the event of a divorce. However, courts do not
always uphold provisions in prenups because of public policy. Women should
make sure that these provisions are fair and in the best interests of
the children.
10. Cheating Clauses
Prenups can contain provisions referred to as cheating clauses which can
entitle one spouse to financial gain in the event a partner commits infidelity.
11. Estate rights can also be addressed in a prenuptial agreement.
Getting ready to walk down the aisle this spring or summer? Thinking about
a prenuptial agreement? Let’s discuss what you would like included
in your prenuptial agreement. I can craft a comprehensive agreement to
address all your needs.
If you have any questions about a prenuptial agreement please call me to
schedule your free consultation at 212.734.1551.
All our
FREE CONSULTATIONS are
still available virtually.
I look forward to helping you prepare carefully and thoughtfully for your future!
Warm regards,
Lois
New York divorce attorney Lois Brenner still has some appointments available
this week.
Please call to schedule your FREE consultation now.
If your wedding is around the corner we can book a consultation for you
immediately!
Call 212.734.1551