We do not realize how important some things are until we are in a certain situation. Consider divorce for example. Some people in New York would not think about protecting their assets, assessing their finances or even losing the things they worked hard to obtain. However, marriage and divorce bring about these thoughts. For these reasons, some couples decide to include a prenuptial or postnuptial agreement in their union. While a couple or spouse does not need to be wealthy to utilize these documents, it is a common and very useful document to have when going through a high-asset divorce.
When wealthy people marry, money tends to be the object of many issues. While the couple may not be worried about their finances in relation to affording certain purchases or paying the bills, it is likely a concern for the couple if they end up divorced. Protecting assets is a step many couples take, wealthy or not. A prenuptial or postnuptial agreement is a device used to not only protect certain assets but also help with the divorce process.
When young New Yorkers decide to get married, it is not uncommon for the future marital partners to have few assets to their names and only a modest amount of money in the bank. As individuals age, though, their overall wealth generally increases through work, savings and investments. When individuals choose to marry later in life they can bring a lot more money and a lot more property to the relationship.
Many New Yorkers have spent their lifetimes working hard and building up their wealth so that one day they may retire and enjoy a less stressful existence. From savings accounts to retirement plans to individual investments their financial assets may be just enough for them to leave their jobs and live off of their prior earnings until the ends of their lives.