Albany Family Law Blog

Engaged couples should consider signing prenuptial agreements

Posted by Joanne P. Monagan, Esq. | Jun 11, 2020 | 0 Comments

New York couples who are considering getting married need to contemplate what may happen if they divorce. The high divorce rate requires that couples be realistic and optimistic at the same time. Realism would necessitate that the future spouses sign a prenuptial agreement to protect themselves in the event of a divorce.

In the past, many people hesitated to negotiate and sign this type of agreement. There was a negative stigma attached to it because couples simply did not want to discuss the possibility of getting divorced before they even got married. Instead, they just simply hoped that the marriage would be successful.

The millennial generation has started to change the way that prenuptial agreements are viewed. Millennials are waiting longer to get married. As a result, they have accumulated more assets, including savings and investments. They are concerned about protecting these assets and do not want to lose them in a divorce. In addition, millennials have student loan debt and want some certainty as to how it will be treated in a divorce. Finally, millennials have seen their parents get divorced and have had a front-row seat to the legal battles in which they engaged fighting over assets. To them, a prenuptial agreement is just a sensible thing to do, and it is not a lack of faith in their upcoming marriage.

In order to negotiate and draft a prenuptial agreement, one should consult with a divorce attorney. A lawyer is familiar with how assets are treated in a divorce and may assist his or her client in negotiating an agreement that protects that person's interests. It is important that a prenuptial agreement not be overly one-sided because that is a reason for a court to refuse to enforce it.

About the Author

Joanne P. Monagan, Esq.

Managing Attorney


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