New York state is an equitable distribution state. This means that property held inside of a marital estate will be divided based on what each party to the relationship needs after a divorce becomes official. However, it may be possible to circumvent state property division laws by creating a prenuptial agreement. If necessary, it may be possible to create a similar agreement after your wedding day.
Postnuptial agreements are routinely enforced
A postnuptial agreement is similar to a prenuptial agreement except for the fact that it is negotiated after a marriage takes place. When properly constructed and executed, there is a good chance that it will be recognized by a judge. Ideally, you will have a family law attorney review the agreement before it is signed. This will help to ensure that the deal is fair and likely to be enforced in the event of a divorce.
A postnuptial agreement can benefit both spouses
As with a prenuptial agreement, a postnuptial agreement can be ideal for any couple that wants to protect its future interests. This type of contract can be used by a business owner to retain control of his or her company if a marriage is dissolved at any point in the future. The spouse who stays at home can use such an agreement to ensure that he or she will receive resources that may be needed to retain a comfortable lifestyle as a single person.
Child custody or support matters must be addressed by a judge
It’s important to note that child support and visitation agreements cannot be included in this type of contract. Instead, state law generally determines how much support a noncustodial parent must pay. Furthermore, a judge will need to approve a proposed parenting plan before it can go into effect.
If you are planning on getting married soon, it’s not too early to consider creating a custom marriage contract. Creating such a contract may allow you to avoid a lot of the stress, drama and financial cost of ending a marriage.