Prenuptial agreements typically address issues that would, otherwise, be decided by a judge in divorce court. Agreements can settle one or more of the following subjects:
- how assets (and debts) will be distributed during the marriage, and/or in the event of a death or a divorce
- each spouse’s entitlement to maintenance (i.e. alimony), including the amount and period of time of an alimony award
- each spouse’s right to property (whether owned individually or as a couple)
- each spouse’s right to buy, lease, sell, transfer or otherwise control property
- each spouse’s rights and responsibility in a family business
- each spouse’s right to death benefits from the other’s life insurance policy
- the state law which governs the agreement, or
- any other issue the couple agrees upon.
Couples have a good deal of freedom in creating prenuptial agreements. There are, however, some issues that a “pre-nup” cannot cover. For example, an agreement cannot require a spouse to commit a crime or prevent a spouse from pressing criminal charges, such as a domestic violence charge.
Prenuptial agreements in New York can address some issues regarding the education, support and care of children. That said, a judge will make the final decision on child custody and support based on the best interests of the child. The Judge will consider the parents’ prenuptial agreement and enforce its terms only if those terms serve the child’s needs.
© Arnold D Cribari 2016
