Five Reasons to Consider a Prenuptial Agreement

Despite the potential advantages, many people are hesitant to get a prenuptial agreement, which is colloquially known as a prenup. Some people are simply so in love with their fiance that they do not even want to contemplate the possibility that their relationship might sour at some point in the future. Others feel that getting a prenup is like dooming their relationship to fail in advance. Still, getting a prenuptial agreement is simply a part of good planning, and here are five reasons why: Continue reading “Five Reasons to Consider a Prenuptial Agreement”

Student Loan Debt And Equitable Distribution

In New York State, a judge will determine the equitable distribution of assets if there is no prior written agreement between the parties. Equitable distribution refers to the separation of assets and financial responsibilities of the parties. In order to properly complete this process, a judge must know all of the marital assets and debts, including student loans.

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Separate Assets May Be Divided As Communal Property

Generally, in a divorce, there are communal assets and separate assets. In New York State, all assets acquired during the course of a marriage are considered communal property. This is commonly known as shared property or marital property. Separate assets refer to property that is independently owned by one spouse. Today, distinguishing between separate property and the communal property has become more complex, due to more individuals having a significant number and range of assets.

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How To Bring Up A Prenuptial Agreement With A Potential Spouse

Timing
It is important to bring up a prenuptial agreement as early as possible because it involves important binding decisions. It is important to have the conversation when each party has time to devote to the conversation. Continue reading “How To Bring Up A Prenuptial Agreement With A Potential Spouse”