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A New York prenuptial agreement outlines the financial arrangements and property rights of each spouse in the event of divorce, safeguarding businesses, inheritances, real estate, and children from previous marriages. Prenups cannot address child support or custody and can help avoid lengthy court battles during divorce. The video covers the Uniform Pre-Marital Agreement Act's signing requirements in New York and reasons a prenup may be deemed invalid. It also encourages viewers to download a New York prenuptial agreement template and subscribe for more content from e-forums, the largest legal document database. The Uniform Pre-Marital Agreement Act, established in 1983, aims to standardize prenup laws nationwide, though New York has not formally adopted its version.