Facts: When Fred married Alice he wanted to make sure that the payments he received from his $5 million trust fund did not become a marital asset. The payments would occur before and during the marriage. As such, Fred and Alice entered into a prenup removing the trust fund and any appreciation of it during their marriage confirming that it was Fred’s separate property asset and not subject to New York’s marital asset distribution rules.
Action: During the divorce negotiations Alice sought a percentage of the payments Fred received from the $5M trust during the marriage.
Result: Fred kept all the money he received from the trust because it was specified as a separate property asset in the pre-nuptial agreement.
Facts: John and Sylvia, married for 25 years, had accrued a good size nest egg. John wanted to invest these marital savings in a investments that carried high risk and high returns. Sylvia wanted the safety of bonds.
Action: Devise a solution that meets both their criteria without impacting the basic marriage contract.
Result: They wrote a postnup agreement apportioning the assets so that each was able to invest his or her own portion as they saw fit.