What’s Involved in a Prenup
If you’re planning to get married, you should be thinking about a prenuptial agreement. I’m Katherine Miller, and I’ve been helping people negotiate prenups for over 30 years. I understand that it can be confusing and overwhelming, so let me try to explain it a bit more clearly. To do so, I’m going to use two pairs of glasses to illustrate a point.
The reason is that all marriages come to an end—either by death after a long and happy marriage, or by divorce after a shorter and likely less happy one. The laws governing the end of a marriage in these two scenarios are entirely different, and I find it helpful for my clients to consider them with different perspectives, like putting on different pairs of glasses.
First, let me put on my reading glasses. In the case of a marriage ending by death, every state has statutes that limit how you can dispose of your assets, such as your house and other property. It’s important to know what those laws are. Sometimes, a prenuptial agreement can level the playing field, allowing people more flexibility in how they manage their assets. This is especially important for people with children from a previous relationship or those with family wealth. If this sounds like your situation, it’s crucial to think through how you want to handle things when a marriage ends due to death.
Now, let me switch to my sunglasses. What happens if the marriage ends in divorce? In that case, you’ll be dealing with the division of marital property and the assets accumulated during the marriage. You’ll also need to consider support—whether for each other or for children, such as alimony. There are laws that dictate what happens in the event of divorce, and many people aren’t familiar with them. However, through a prenuptial agreement, we can modify what happens, changing the course of asset distribution and support obligations.
If you’re planning to get married, you probably have questions, and you should! Don’t hesitate to reach out on our email address info@miller-law.com or call us at (914) 685-9805. We’d be happy to talk you through the various options available to you. Thanks for listening.