Somerset County Prenuptial Agreement Attorneys
Providing Premarital Agreement Services for Residents of Morris, Union, Middlesex, and Essex Counties
A premarital agreement, also known as a prenuptial or postnuptial agreement, allows a couple to define their rights and obligations on a variety of financial matters that will arise in their marriage or in the event the couple separates or divorces. When drafted legally, these agreements can help a couple save time, energy, and money if they must face separation or divorce. Additionally, many marital issues that couples quarrel over during a divorce can be addressed beforehand in a prenuptial agreement, meaning the couple can avoid the stressful process of needing to appear in court to resolve their differences.
What Can Be Included in a Prenuptial Agreement?
A prenuptial or postnuptial agreement may contain but is not limited to the following matters:
- Both spouses’ rights and obligations to joint and separate property
- Which spouse has the right to buy, sell, use, manage, exchange, transfer, lease, and/or dispose of property
- How the division of property will be taken care of in the event of separation, divorce, and/or death
- Whether spousal support will be necessary
- Details regarding the making of a will or trust
- Any other matter, including person rights and obligations, as in accordance with the law
Prenuptial Agreement Versus Postnuptial Agreement
A prenuptial agreement is created before a couple gets married. It details how both parties would like to take care of their finances, including asset division, in the event of divorce, separation, or death.
A postnuptial agreement is entered into after a couple is married. When you sign into a postnuptial agreement you and your spouse’s assets become marital property, which is a topic you will need to address in your agreement.
Why Would You Enter into a Prenuptial Agreement?
There are many reasons why you would want to obtain a prenuptial agreement, especially if you are entering a marriage with significant assets of your own. Additional reasons why you may want your spouse to sign a prenuptial agreement include:
- Protect yourself from being held liable for any debt your spouse brought into the marriage
- Protect any income or assets you earn while married
- Determine if your spouse will get any of your estate in the event of your death
What Cannot Be Included in a Premarital Agreement?
When it comes to divorce matters regarding child custody, the court prefers to handle these separately. The court will deem what it feels is in the best interest of the child when it comes to determining custody. Premarital agreements that contain child custody preferences are unenforceable.
Benefits of a Prenuptial Agreement
A prenuptial agreement offers many benefits, including but not limited to the following:
- Protects pre-marital assets
- Safeguards assets you would like reserved for your children
- Reduces future conflict in the event of a separation, divorce, or death
- Determines debt liability
- Helps you resolve your divorce in a more amicable manner
What Are the Requirements for a Valid Prenuptial Agreement in New Jersey?
Prenuptial agreements are protected by the Uniform Premarital Agreement Act (UPAA). The UPAA mandates that all premarital agreements must be in writing, signed by both spouses, that both parties must have legal counsel or expressly waive the right to independent legal counsel, and that a legally valid statement of assets accompany the agreement.
It would be advisable to consult with an experienced attorney before entering into a premarital agreement as you want to ensure your agreement will be enforceable under the law. If it is not, you could face serious legal consequences during a divorce.
For assistance generating a premarital agreement and ensuring it will be enforceable under the law, contact our office online or via (908) 259-6673 for a consultation.
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