New York Prenuptial Agreement Financial Disclosure

It is not enough for a couple to accept the basic conditions. They must formalize their agreement in writing. The marriage agreement may discuss a number of important concepts, including the will provisions in the event of death, the distribution of separate and marital property, spousal support, and custody and assistance to children, subject to certain restrictions. A marriage agreement is valid and can be enforced as long as it protects you and your spouse, and has been concluded with full and fair disclosure of all property, both by you and your spouse. The agreement must also be executed and recognized with the full formality necessary to register a title. Both parties must sign the agreement voluntarily and knowingly. The contract is non-acute if it is entered into under duress. In addition, fraud can also invalidate a marital agreement. Full financial disclosure is not expressly required by the New York Marriage Contracts Act, but non-complete disclosure of finances may lead a court to invalidate the marriage agreement.

Note: Child custody and custody schemes should not be covered by a pre-marriage agreement (with the exception of non-adopted children from previous partnerships), as they are reviewed or decided by the court in the best interests of the child. Couples who enter into a post-up deal may want to clarify what will happen if the couple is divorced. In addition, a couple with a marriage contract may have decided that the terms of the prenup are obsolete and want to conclude a new agreement. Changes in living conditions, such as inheritance, the birth of children or a serious illness, may be one of the reasons why the couple wants to make plans for the future for themselves and their families. In addition to the net worth declaration, financial information may also be obtained as part of the investigation process under New York`s law and civil practice rules. It can be an important tool to verify the nature and extent of assets received during your marriage, especially in cases of divorces with significant assets. During the discovery, you and your spouse can submit requests for access to documents and interrogations on the other side to obtain more information about each other`s finances. If your spouse refuses to respond to your requests for discovery, the documents may be directly summoned by financial institutions or by prompting the court to force disclosure. Your lawyer may also perform an impeachment in which your spouse is being questioned under oath.

An experienced divorce lawyer will be trained to identify conflicting or incomplete information in your spouse`s financial information, and may take appropriate steps to correct discrepancies by continuing to investigate, file or call on accounting and financial experts. I hope you and your partner had the opportunity to discuss the Prenup before you were asked to sign. Whatever the case, it is important to take the time not only to verify the agreement itself, but also to have your lawyer checked. With a lawyer giving entry, what can and should go into the document will help ensure that you are protected. Whatever the scenario, an agreement should never be rushed or signed in the “incentive of the moment” without having time to verify it and possibly modify it. Open a dialogue with your partner and express your thoughts on why a prenup is beneficial to both parties in your relationship. If you and your partner are able to communicate openly and honestly about the topics you care about, most of the process is already complete. Once you have had the first discussions with your partner, a meeting with your lawyer can help resolve any issues or concerns, as well as develop the agreement. Here too, posts can include more than financial matters and bring all areas of marriage, including visits to in-laws and even housework and responsibilities.