There was a time when prenuptial agreements were the domain of celebrities or the wealthy. Times have changed, and prenuptial agreements are now common for couples of all ages anticipating marriage.
Defined under Domestic Relations Law 236 (B) (3), a prenuptial agreement is a legal contract describing ownership and disposition of assets if a marriage ends. The agreement also characterizes terms of spousal maintenance, child custody, and support, and other issues of importance.
While some people view prenuptial agreements as plans for divorce, the truth is that no one plans on divorce. People marrying today know the risk of divorce is high. Working through the hard questions and decisions posed by a prenuptial agreement gives my clients a ringside seat to the style and commitment of their partner in handling marriage issues and disputes in years to come.
Five good reasons to prepare a prenuptial agreement include:
- Full financial disclosure
- Protection of assets from the marital estate
- Future debt or tax protection
- Protection of estate planning designations
- Definition of use of separate property in the marriage
Preparation of a prenuptial agreement should begin before the wedding arrangements. Presenting an agreement to a fiancée a few weeks before a wedding is a good reason to be left at the altar.
Divorce is a big risk of marriage. Discussing that risk and facing the realities of how a marriage should end is as important as the euphoria and wedding plans at the beginning.
As a Buffalo divorce lawyer for 28 years, I have devoted myself to solving the problems that affect families throughout the Buffalo metropolitan area and Western New York. As a family law attorney, I make it my goal to create a partnership of trust with my clients. People put their trust in me to handle cases that can potentially have a long-lasting impact on not only their lives, but the lives of their family as well.
Alexandra M. Rockwood is a Senior Associate Attorney with the Law Offices of Randy S. Margulis & Associates and has been with the firm since early 2020. She primarily practices in the areas of matrimonial and family law, including divorce, child custody, and child support. Alexandra is a practicing matrimonial and family law attorney as…
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5.0/5.0Divorce is always an unpleasant event and my case was no exception, yet the guidance, professionalism and ethical strategy that Randy Margulis provided was essential in finding the best solutions for my children, my ex-wife and myself. As the proces...
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5.0/5.0
Divorce is always an unpleasant event and my case was no exception, yet the guidance, professionalism and ethical strategy that Randy Margulis provided was essential in finding the best solutions for my children, my ex-wife and myself. As the proces...
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5.0/5.0
Randy Margulis is knowledgable of Domestic Law, dedicated, responsive, personable, aggressive and effective. I came to him on a friend's recommendation as well as Randy's reputation, and during the initial consultation I liked his approach and track ...
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5.0/5.0
Found Mr. Margulis to be a very organized and professional individual to work with. He is well-respected by his peers and is spoken of highly, I believe this helped with my divorce and made things go smoothly. I would highly recommend his services ...
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5.0/5.0
Randy is very firm and effective in court while empathetic to his clients. I am a domestic violence victim, and Randy made me feel safe and protected. My financial award was more than I envisioned it to be when I started my divorce. I can't thank ...
