If you are about to get married, you may want to consider a prenuptial agreement to protect your assets and interests in case of a divorce. However, prenups can be complex, and you need to make sure that your rights are fully protected. Today on the blog, our attorney at Jayson Lutzky is sharing 5 general tips on how to protect yourself in a prenuptial agreement.
5 Tips to Strengthen Your Prenuptial Agreement
- Hire an Experienced Family Law Attorney
A prenuptial agreement is a potentially complex legal document and a seasoned lawyer can help you understand the legal jargon and implications of the agreement to ensure that your assets are as protected as possible.
- Disclose All Assets & Debts
To make sure that your prenup is valid and enforceable, you need to disclose all your assets and debts to your partner. This includes:
- Real estate
- Bank accounts
- Retirement accounts
- Investments
- Credit card debt
- Student loans
- Mortgages
Failing to disclose anything could potentially jeopardize the validity of the agreement.
- Negotiate Fair & Reasonable Terms
This type of legal document should be fair and reasonable for both parties. You need to negotiate terms that protect your interests without being overly restrictive or oppressive to your partner. An attorney can help you identify the key issues and negotiate terms that are beneficial to both parties.
- Consider Future Changes in Circumstances
A prenuptial agreement is a snapshot of your current financial situation at the time of signing. However, your circumstances may change in the future, such as if you have children, inherit assets, or start a business. You need to include provisions in the agreement that address future changes and allow for modifications if necessary.
- Review & Update the Agreement Routinely
This is in no way a set-it-and-forget-it document—you need to review and update a prenuptial agreement on a routine basis to make sure that it reflects your current situation and needs. Your attorney can help you review the agreement and modify.
While a prenuptial agreement is a valuable tool in protecting your assets, there are factors that can increase the strength of this document. If you need help with drafting, modifying, or enforcing a prenuptial agreement or any other family law matter, contact Jayson Lutzky.
Call us at (718) 550-2881 to request a free consultation.