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Post-nups could provide property division security in New York

A variety of reasons could act as catalysts for individuals considering asset protection. Some parties may realize that they do not want to risk losing their businesses or portions of their businesses in the event they get divorced. Other parties may simply feel that having a safeguard in place could prove useful should property division proceedings ever become necessary. However, some New York residents may feel as if they missed an opportunity by not creating a prenuptial agreement.

Though prenups are more common, individuals do have the option of creating a post-nuptial agreement. As the name suggests, this agreement comes after the marriage has already occurred. Some individuals may wish to create a document due to issues that have come to light during the marriage or because they just want to protect themselves, their spouses and their property.

Similar to a prenuptial agreement, a post-nuptial agreement can help individuals clarify property ownership and potentially shorten certain divorce proceedings if a couple should decide to end their marriage. Even if individuals feel that their relationships are in a good place, they may want to consider their agreement options if children from previous marriages are involved or there are specific separate property concerns. Because the average marrying age is the highest it has been in U.S. history, protecting pre-marital property is becoming more of a priority.

Creating a post-nuptial agreement does not necessarily have to act as a signal that the marriage is facing irreversible problems. In fact, some individuals may choose to create an agreement in order to provide more security for their marriage. If New York residents are interested in more information on this type of property division agreement, they may wish to consult with experienced attorneys. 

Source: harpersbazaar.com, "Why a Post-Nup Could Save Your Marriage", Jenna Sauers, March 2, 2017

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