It’s essential to think about the big picture before getting married in New York. An important factor you will want to consider is the assets you currently have going into your marriage. While no one plans to get divorced, statistics show that it happens with nearly half of individuals who thought they were compatible with each other. Preparing a prenuptial agreement may be a legal document you want to consider completing, especially if one or both of you have a significant number of assets going into your marriage.
The increasing popularity of prenups
Discussing the subject of prenuptial agreements was considered taboo for many years. However, times have changed; the attitude associated with using a prenuptial agreement as protection when getting married isn’t as touchy of a subject anymore. In addition, the age at which individuals get married has been increasing. This gives both men and women more time to accumulate a substantial number of assets that they may want to protect when getting married.
Situations to use a prenuptial agreement
If you or the person you’re marrying has started a career and already built up assets in the stock market, real estate or a startup business, it’s critical to think about protecting those assets and what you’ll have in the future. If you’re already established with a successful career and you will be generating a lucrative income, you may want to protect it in the event of divorce. Knowing you will be receiving an inheritance with assets worth a significant value may be another reason why you would want to examine your options for a premarital contract.
Taking action now and protecting your wealth is an important aspect to consider. Failing to do so may result in losing a considerable amount of your assets in the future if your marriage ends up not working out.