What are the laws regarding prenuptial agreements in New York?

New York Prenuptial Agreement Statute

Regarding New York Prenuptial Agreement Statute, there are a few fundamental laws that you should be aware of. First and foremost, it’s important to understand that prenuptial agreements, also known as premarital agreements or prenups, are legal contracts that two people enter before getting married. These agreements typically outline how the couple’s assets and property will be divided in the event of a divorce or death.

One of the most important laws regarding prenuptial agreements in New York is that they must be entered into voluntarily. This means that both parties must willingly agree to the terms of the agreement without any coercion or pressure from the other party. In addition, both parties must fully disclose their assets and financial information to each other before the agreement is signed.

Another critical law in New York is that prenuptial agreements must be fair and reasonable when they are entered into. This means that the terms of the agreement must be balanced in favor of one party or the other. The court will also examine whether the agreement was entered to defraud, hide assets or deceive the other party. If these elements are present, the court will not enforce the agreement.

It’s also worth noting that prenuptial agreements cannot include any illegal or against public policy provisions. This means you cannot have terms that would allow one party to avoid child support or alimony obligations, for example.

What are the laws regarding prenuptial agreements in New York?

Finally, it’s worth mentioning that prenuptial agreements in New York must be in writing, and both parties must have legal representation before signing the agreement. This is to ensure that both parties fully understand the terms of the contract and the legal implications of signing it.

In summary, prenuptial agreements in New York are legal contracts that outline how assets and property will be divided in the event of a divorce or death. They must be entered voluntarily, with full disclosure of assets and financial information, and be fair and reasonable at the time of execution. They also cannot include any illegal or against public policy provisions and must be in writing, and both parties must have their legal representation before signing. It’s always best to consult a lawyer before drafting or signing a prenuptial agreement.