People tend to believe that prenuptial agreements are tools only for celebrities and the extremely wealthy. This is simply not the case as prenuptial agreements can provide many benefits to people of modest assets.
Prenuptial agreements are legal contracts that identify the separate property of the parties and direct what should happen to certain assets and debts in case of a divorce. These agreements can be a helpful tool in preventing lengthy litigation over the marital estate.
Prenuptial agreements being legal contracts like any other contract; there are certain requirements that must be met. This also means that a prenuptial agreement is not intended to leave one spouse with everything in the event of a divorce.
Postnuptial agreements are similar to prenuptial agreements except that they are executed during the marriage. These agreements are often used as a tool for married couples that are going through financial difficulties. Postnuptial agreement gives married couples the opportunity to review and discuss their overall financial picture. These agreements can help alleviate the stress that finances bring to their everyday lives.
For more information please contact Ross S. Gelber, Esq., at 716-632-5919 or email@example.com.