This document contains a list of clauses used in premarital agreements, followed by the full clauses used in the agreements. The 38-page document also contains general comments on negotiating, drafting, and execution of premarital agreements.
Queens New York Prenuptial Agreements - General Comments on the Negotiating, Drafting and Execution of Prenuptial Agreements
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Queens
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US-APP1A
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FAQ
A prenuptial agreement cannot include personal preferences, such as who has what chores, whose name to use, where to spend the holidays, information on child-rearing, or what relationship to have with specific relatives. Premarital agreements are meant to address monetary issues.
Rather, you can include whatever you want, but unless it's enforceable under California law and your family law judge agrees with it, it won't be enforced if you ever need to rely on the agreement. It's crucial to hire an experienced attorney to help you draft and execute your prenup.
At the heart of any valid premarital agreement is the requirement of disclosure. Parties must fully and accurately disclosure all assets and liabilities prior to the writing of the contract. Without adequate disclosure it is difficult to create a binding contract, especially if material facts have been concealed.
As long as you and your spouse agree, your prenuptial agreement can be changed. To create an amendment to a prenup, you can either add to the original contract or sign a separate contract that modifies the terms of the initial agreement. This is true for revoking also.
A fair prenup should respectfully safeguard and shield the assets of both parties. To achieve this, there must be a full and complete disclosure of all assets, debts, and liabilities when the contract is drafted. This includes all investments, real estate, and financial obligations.
Specific matters that can be negotiated include: Guarantees of household operating expense accounts, Phased in interests in property, such as a marital residence, Payment of attorney's fees, Reasonable temporary expenses in the event of a divorce, Alimony.
First, each party must fully disclose their financial circumstances, including all their financial accounts and physical assets, as well as their debts and liabilities. Second, it must be shown that neither party entered into the agreement under duress, or through fraudulent means.
Neither person should be in a state of duress or under any pressure to sign the prenup. Any indication of coercion or lack of willingness can give way for a divorce judge to overturn the agreement. A written agreement should be reviewed by an experienced family law attorney prior to completion of the agreement.
You may not know what to include in a prenuptial agreement, so here are ten things you should ask for to get you started: Separate & Marital Property.Intellectual Property.Pet Custody.Gifts & Heirlooms.Spousal Support.Debt Protection.Financial Responsibilities.Estate Plan Protection.
Can you renegotiate? Absolutely. Prenuptial agreements aren't necessarily set in stone, and many wealthy couples find themselves back at the negotiating table after changes in their lives make the old prenup seem outdated.
