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Lawyers Lick Their Lips For Gay Prenups, Divorces
By
Garth Johnston
Published Jun 27, 2011
Modified Jun 27, 2011
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By
Garth Johnston
Published Jun 27, 2011
Modified Jun 27, 2011
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With same-sex marriage legal in New York, there was no surprise that many people got engaged this weekend, including City Council Speaker Christine Quinn. But you know who also had a good weekend? Lawyers.
Between the onslaught of prenups New York's attorney's expect to be writing in the next 27 days and the divorces they expect to start seeing in the next few years, gay marriage is good news for New York attorneys.
"We will probably see a big increase in business right away with prenups," said attorney Alton Abramowitz, who is also vice president of the American Academy of Matrimonial Lawyers. "A lot of gay and lesbian couples have waited a long time and are older and have therefore accumulated greater levels of wealth."
But the "The real impact for us will come over the next decade," he said. "Probably not over the first five years but after that. Marriages tend to begin experiencing stress after five to seven years."
Not that Quinn is stressing about that prenups or divorces yet (though her dad is already grumbling about the costs). She and her partner of 10 years, Kim Catullo, plan to wed sometime next spring. And in the meantime the last few weeks have been very good to her. Her biggest rival for the Mayor's office in the next election stepped down due to some bawdy photos, she got an on-time budget through the City Council, she got engaged, and, arguably just as big a deal, she and her partner got a new black lab puppy named Justin. We want to see the puppy!
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