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Elderly marriage and the prenuptial agreement, a wise combination

The number of people in the United States who can be classified as elderly is on the rise. Along with that, statistics show that there has also been an increase of late-in-life marriages and divorces. This, of course, brings up a lot of financial concerns as those in their retirement years typically have more assets than those who are younger. Whether one resides in New York or elsewhere, a prenuptial agreement can help to protect what one has earned or acquired over the years.

Elderly marriage, like everything else, can have both positive and negative consequences. On the positive side, late-in-life marriages offer companionship. This alone can have significant affects on one’s emotional health.

The negative side of elderly marriage, however, is having to acknowledge family and financial concerns, which can put a significant strain on relationships. As older couples are likely to have children from previous marriages, it is not uncommon for these family members to question the intentions of new partners. It is also normal for family members to worry about how agreements with a new spouse might impact them personally and financially. A prenuptial agreement can help put these fears to rest. These documents can serve to set expectations for the marriage, help protect financial assets and clarify the rights of all involved.

A couple can seek a prenuptial agreement at any age. However, those entering into elderly marriages often have more to lose than younger couples in the event of divorce, illness or even death. Those in New York who are considering late-in-life marriages can benefit by seeking assistance in preparing marital agreements that ensure any and all concerns — financial or otherwise — are addressed.

Source: Time, “Does Grandpa Need a Prenup?”, Tracy Craig, Aug. 25, 2015

Important Information

COVID-19 (Novel Corona Virus)  Update 3-20-2020

By order of Governor Andrew Cuomo, beginning 3-22-2020, all non-essential business in New York state must close their physical offices in response to the rapid rate of positive reported cases of COVID-19 in New York State.

Although this will impact the in office and in person services that LIT can provide, we will still be working remotely from our homes to serve our existing clients and we will continue to serve the public on a remote basis with any new legal matters for which they may need assistance.

We as a nation have overcome great obstacles in the past and although the challenges that lie ahead of us as community, as a state, and as a nation are great, we will overcome them as our resilience as individuals, as a community and as a nation will allow us to prevail.

May all of you and your loved ones be safe and well .

Larkin, Ingrassia & Tepermayster, LLP

Should you have any questions please feel free to contact us at 845-566-5345

For more information regarding the COVID-19 virus please visit any of the following sites:

Centers for Disease Control and Prevention

NYS Department of Health

Orange County Dept. of Health

Ulster County Dept. of Health

For information and updates regarding court postponements or closings please visit:

NYS Unified Court System

9th Judicial District

3rd Judicial District