Legal Question in Family Law in New York
Prenuptial question
I really don't know much about the uses and purpose of a prenuptial agreement, but was advised that I should protect myself by having one before I marry. My fiance does have children from a previous marriage and I am wary that in the event that anything happens (if he is permanently disabled/ unemployed etc), I may be obligated to financially support these children. Can a prenup protect me from incurring this debt? Also should he now decide to take out a life insurance policy, how should he go about this to safeguard myself and children of our marriage as well as those from this previous marriage. Thank you
2 Answers from Attorneys
Re: Prenuptial question
In situations such as this pre-nup agreements help to ward off the potential problems which you have described.The children of your fiancee's prior marriage are not your financial responsibility unless you choose.Insurance policy's can be legally worked out so that the objectives you desire can be achieved. You may call my office @ 834-0087 for further consultation.
Re: Prenuptial question
A prenup is often used in the event of a marriage between people with children of a previous relationship. As they are not your children you have no legal obligation to support them; typically in such a case a prenup is used to protect those kids in the event the parent is the first to die to ensure that the survivor cannot essentially disinherit them. As for life insurance -- the question is who is the beneficiary. To make such a thing water-tight the policy is typically owned by a non-revocable trust with the proceeds paid into the trust on disbursement and the trustee is bound by the terms of the trust.
If you'd like some advice on a prenup -- and both spouses need their own attorney in the process -- feel free to call the office. 212.366.1324. No cost for the consult.