Contractual Obligations Matter
Before a couple is married, they may want to enter into a pre-nuptial agreement. Such an agreement can be helpful if one, or both, of them have significant assets or liabilities prior to the marriage.
A pre-nuptial agreement can define what will happen to the parties’ assets and/or liabilities in the event they get divorced in the future. It can also address a variety of other financial issues. Pre-nuptial agreements are especially helpful when one, or both, of the parties have previously been married and have children from their prior marriage. In order to avoid unnecessary stress on the couple getting married, it is suggested that the pre-nuptial process occur at least several months before the planned wedding date.
Post-nuptial agreements are agreements entered into after the parties are married. Although a couple may not currently be seeking a divorce or separation, they may want to define their financial arrangement in the event they should do so in the future.
When parties are actually divorcing, rather than proceed to trial, they will often enter into a Separation Agreement or a Stipulation of Settlement which amicably resolves all of the issues in their pending divorce.
Sometimes, after these agreements are entered into, there is a need to modify the issues addressed in these agreements, and a modification agreement is required. In order to be valid and enforceable, it is important that any changes to an existing agreement be memorialized in a duly executed written modification agreement.
Agreements are legally binding contracts and therefore, it is important that a client understand his or her rights before entering into an agreement. It is important that the agreement satisfactorily addresses the client’s issues and that the client understands the terms of the agreement.
The attorneys at the Law Offices of Barry J. Fisher, P.C., represent clients in Nassau and Suffolk County and throughout the boroughs of New York City.
For more information and to schedule a personal consultation with the Law Offices of Barry J. Fisher, P.C., please contact us online or call our Garden City, New York office at (516) 280-5065.