Prenuptials are an agreement between an engaged couple that prepares them in case they eventually decide to end their relationship. As a result, many couples either do not sign a prenup or they do not put as much thought into it. This could end up being a mistake. Learn about how an Albany prenuptial agreement lawyer could help. A seasoned prenuptial agreement attorney could provide guidance on how to write a fair contract that protects your interests.
The role of the attorney is to gather all of the information necessary to ensure a fair agreement and an equitable distribution of property in the event of a divorce. They could discover assets and liabilities of both parties, make sure everything is included in the document, and safeguard the assets of the person they represent. It is the lawyer’s job to make sure that all assets and liabilities that both parties possess are listed in the agreement, and that the person is okay with how it would all be distributed in the event of a divorce.
A local prenuptial agreement lawyer could help account for all of the nuances in the document. However, the individual getting the prenup has the final approval on whether or not a prenup will take effect.
It is important to have a lawyer because it is common for the other party to get away with things in the contract that they should not be able to. If a person does not have the right legal knowledge to know what they are entitled to or what is considered an inequitable decision, they could end up hurting themselves in a potential divorce. It is a good idea for a lawyer take a look at the prenup that was already made and identify any egregious mistakes that threatens one’s personal assets. The extra effort could pay off in the long run.
An attorney only knows as much about someone’s financial situation as what one party tells them. If the party insists that their soon-to-be spouse has more assets than what they have disclosed, then they must discuss how to properly identify those assets. Although discovery demands are not done in prenups, it is possible that they could issue a subpoena. However, these actions might not be necessary at all. If a couple is in love and planning on spending their lives together, it is much more likely that they will be willing to exchange financial documents and reveal any hidden assets.
Both parties must fully disclose all of their assets and liabilities so as to avoid problems down the road. If someone was caught trying to hide something, the court will not look favorably on them and there could be repercussions.
Some people might throw together a prenup with the expectation that it will never come into play. While this would be ideal, it is still a mistake to ignore the actual ramifications if a divorce happens. This is where a prenup agreement attorney in Albany could be the most helpful. It is possible to include language regarding spousal support (alimony) in a prenup, if it is something that is likely to come into play if a couple separates. Unless some sort of fraud has occurred, marital contracts are binding. No one wants to be locked out of financial safety because they did not take their prenup seriously.
If a divorce eventually happens, the lawyer who worked on the prenup could then become the divorce lawyer and push to enforce the agreement. Pre-existing familiarity with the party and their economic situation could mean that the case hits the ground running.
Prenups are a smart and healthy thing for a couple to take part in, but they must be truthful and serious about it. A legal professional could discuss the features that it provides and the legal boxes that they must check. If you are engaged to be married, call now to learn how an Albany prenuptial agreement lawyer could help in your situation.
Colwell Law
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(518) 462-4242
200 Great Oaks Blvd