Quatela Chimeri, PLLC

Protect you assets before entering a high-net worth marriage

Every divorce begins with a marriage. When you get married, divorce is probably the last thing on your mind. You don’t accept a marriage proposal with intentions of the relationship ending. Regardless, you may want to protect the future and plan ahead.

New York is an equitable distribution state. If couples can’t reach a settlement agreement when they divorce, then a judge will divide the couple’s property in a manner that is deemed fair and equitable. If you know that you will have a high net-worth marriage, then you may prefer to maintain a sense of control as you enter into the union of marriage. In order to protect assets, you may consider a prenuptial agreement.

The main reason behind a prenuptial agreement is to create a sense of security and give peace of mind.

But can a prenuptial agreement be challenged in the case of a divorce?

It is rare that the agreement won’t stand up in court, but these agreements can be challenged under these extenuating circumstances:

  • If the spouse was coerced into accepting the agreement or signed it under duress.
  • If the agreement was verbal and not legally binding.
  • The agreement contained errors.
  • The agreement was based on fraudulent claims.
  • If the agreement was blatantly unfair and contains items that can’t be enforced.

A prenuptial agreement will protect a spouse with greater assets, but it can also protect the lower-earning spouse and their financial interests.

As you enter into a marriage you should surround yourself with experts you can trust. In the event of a divorce, you may have to call on them.

Consider building a relationship with the following people:

  • An estate planning expert—to help handle your assets.
  • A business lawyer—if you are a business owner.
  • A real estate professional—if you have property of significant value.
  • A tax professional—this individual can help with different tax related questions regarding your business, property and other assets.

If you enter into a high net-worth marriage, you should consider all future outcomes. If you find yourself in a divorce, seek professionals to assist with the process.

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Quatela Chimeri PLLC
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Hauppauge, NY 11788

Phone: 631-482-9700
Fax: 631-482-9707
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