A marriage is a chance for two people to declare their love to the world. Heading to the altar together is also an opportunity for two people to tie their lives together in every way. One of the most important things that marriage does is to bring two people together in a legal partnership. Signing a marriage contract is signing a document that will bind them both together for as long as they stay married. It is imperative for all those contemplating marriage to understand the full extent of this decision. As a married couple, each member has certain legal rights and certain legal responsibilities. With this in mind, it helps each member of the couple to ensure their legal rights before they get married. Part of this process means examining all fiscal matters before they get married. Under New Jersey state law, people can agree to sign a prenuptial agreement with the help of a divorce lawyer.
Financial Matters
Financial matters are one of the cornerstones of any successful marriage. Both parties to the marriage need to know how they’re going to jointly manage all fiscal issues. The parties also need to be aware of how the other party responds given fiscal challenges such as the need for budgeting to pay bills. The use of a prenuptial agreement can help in many ways. A prenup lays bare each party’s finances. Given the average of marriage in the United States is over twenty-five for both men and women, each party to the marriage is likely to have already made certain financial decisions before they get married. Each party to the marriage is also already likely to have completed at least some of their education and thus incurred financial debt. Many people already have mortgages and credit cards well before they become an official couple. Making use of a prenuptial agreement means that each member of the wedding party has access to other party’s financial decisions.
This has many advantages. Each member of the wedding party gets to see exactly what the other person has done in the past. They have the chance to know about any student debt, business interests and savings. That allows each party to come to marriage knowing what kind of joint assets they can expect to have at their disposal. They also have the chance to have an honest, frank discussion of fiscal issues before they have to make decisions such as buying a house and deciding what percentage of their income to devote to retirement savings.
Facilitation of open and honest communication about essential matters like these is the foundation of any successful marriage. Each member of the couple has the chance to have in writing the other person’s financial picture. The prenup allows the couple to decide what will happen if the marriage isn’t working out. Neither spouse is left fearful the other party isn’t being truthful about their personal finances if divorce is required. That allows for the kind of peace of mind that can help ensure any marriage is a working partnership both parties can enjoy. Understanding how a prenuptial agreement works before getting married is vitally important.
How It Works
A prenuptial agreement is an agreement to divide all the couple’s finances a certain way if they get divorced. It’s important to bear in mind that a prenuptial agreement only pertains to the couple’s finances. It does not cover anything else. One party cannot specify that the other party agrees to lose a certain amount of weight or stays at a specific weight during the marriage. Child related issues must also be left out of the agreement. If one party has children from a previous marriage, the prenup cannot address the issues arising from their care. The only issue that is addressed in the prenup is fiscal. Each party has the chance to indicate to the other party how much they in assets as well as any outstanding debt. Each party also has the chance to ask that any assets they have earned before the marriage took place are theirs and theirs alone to retain if the marriage should not work out. All parties to the marriage should take the time to make sure the agreement is what they want done.
In order for the agreement to be valid in the state of New Jersey, it must meet certain criteria. These criteria include a written rather than a verbal contract as well as allowing the parties at least a week to have a lawyer examine the terms before they sign it. If any of these steps are compromised, the document is considered null and void. Working with a professional to work out all necessary terms can help. Lawyers can help both parties create a prenup that is acceptable and allows the couple to get married happily.
Protect Your Interests with a Prenuptial Agreement in New Jersey
When it comes to matters of the heart, many couples neglect to consider the practical realities of marriage. However, a prenuptial or pre-civil union agreement is an essential tool that can provide peace of mind and protect your interests in the event of a divorce. At Spodek Law Group, our experienced attorneys can assist you in drafting a prenuptial agreement that addresses your unique needs and circumstances.
What is a Prenuptial Agreement?
A prenuptial agreement, also known as a premarital or antenuptial agreement, is a legal contract entered into by two individuals before marriage or a civil union. This agreement outlines the rights and obligations of each party concerning financial issues, such as the distribution of assets and the payment of spousal support in the event of a divorce. It becomes effective upon marriage.
Enforceability of Prenuptial Agreements in New Jersey
There is a common misconception that prenuptial agreements will not survive a legal challenge. However, the enforceability of a prenuptial agreement depends on whether it satisfies certain statutory requirements. At Spodek Law Group, we have a deep understanding of New Jersey law and the requirements for the enforcement of prenuptial or civil union agreements. We can ensure that your prenuptial agreement complies with these requirements to increase the likelihood of its enforceability.
Protecting Your Assets with a Comprehensive Prenuptial Agreement
At Spodek Law Group, our prenuptial agreement attorneys work in partnership with our trust and estates attorneys to draft sophisticated prenuptial agreements that meticulously address all aspects of your financial situation. We understand the importance of protecting your pre-marital assets, business interests, and inherited assets. We also address the division of assets upon divorce, including but not limited to real estate, business interests, stocks, bonds, and other investments. Additionally, we establish responsibility for premarital debts such as credit cards, student loans, mortgages, and resolve the distribution of property upon death.
Experience in Setting Aside Prenuptial Agreements
While prenuptial and civil union agreements are generally enforceable, it is possible to obtain a court order that sets aside or voids the agreement. At Spodek Law Group, our attorneys have experience in both the defense of and setting aside of prenuptial agreements, including those drafted by other law firms and lawyers. We understand that this is a difficult and emotional process, and we work diligently to achieve the best possible outcome for our clients.
Get Help from a Knowledgeable New Jersey Prenuptial Agreement Attorney
If you have questions about prenuptial or civil union agreements or need assistance in negotiating a prenuptial agreement under New Jersey law, Spodek Law Group attorneys are here to guide you every step of the way. We understand that a divorce or death can have far-ranging effects on our clients’ lives, and we work tirelessly to ensure that our clients take the right steps to plan ahead and avoid costly, extended, and unpleasant litigation. Contact us today to discuss your concerns and protect your interests with a comprehensive prenuptial agreement.
Protect Your Premarital Assets with a New Jersey Prenuptial Agreement
A New Jersey Prenuptial Agreement, also known as a premarital or ante-nuptial agreement, is an important planning tool for engaged couples. It can help protect your various assets and financial interests in the event of a divorce. By consulting with a family law attorney, such as Spodek Law Group and Attorney Todd Spodek, you can ensure that your premarital assets are exempt from equitable distribution and that your property is safeguarded.
Why Do You Need a Prenup?
Prenuptial agreements are not just about protecting premarital assets, but also outlining the rights and obligations of each person in the event of a divorce. With a well-drafted prenup, you can predetermine the treatment of financial issues such as alimony, asset values, business interests, and complex financial security holdings.
At Helmer, Conley & Kasselman, P.A., our experienced New Jersey prenuptial agreement lawyers can help you craft the right premarital agreement to suit your needs. We can tailor your prenup to protect any asset, including homes, real estate, investment accounts, trusts, business assets, foreign assets, and more.
The Benefits of a Prenup
By entering into a prenuptial agreement, divorcing couples can avoid lengthy legal battles and have more control over the outcome of their separation or divorce. A New Jersey Prenuptial Agreement can also protect family assets, such as a business, from being subject to equitable distribution in the future.
When To Consider a Prenuptial Agreement
If you own a business, anticipate receiving a significant inheritance or monetary gift, were previously married, have children from a prior relationship, have significantly more assets than your spouse, earn significantly more than your spouse, are the beneficiary of a trust, are marrying someone with significant debts or student loans, or have particular concerns about your privacy, then a prenuptial agreement is strongly urged in New Jersey.
New Jersey Prenuptial Agreement FAQs
When crafting a prenuptial agreement with Spodek Law, you can address a variety of issues such as joint and separate property, joint and individual debts, health and life insurance, retirement accounts and pensions, spousal support (alimony), and household tasks. Spouses can use a prenup to agree that alimony will not be a part of their divorce in New Jersey, but it is important to craft these provisions carefully with the help of an experienced prenuptial agreement lawyer.
While there are some limitations on prenuptial agreements in New Jersey, a well-drafted prenup entered into under appropriate circumstances should not be subject to challenge in court. With a New Jersey Prenuptial Agreement from Spodek Law Group and Attorney Todd Spodek, you can have peace of mind knowing that your premarital assets and financial interests are protected.
Don’t Wait Until It’s Too Late
Fully disclose all assets, obtain independent legal counsel, enter into the agreement voluntarily, and be afforded sufficient time to consider all the terms of the New Jersey Prenuptial Agreement prior to the marriage. Do not wait until it’s too late to protect your assets and financial interests. Consult with Spodek Law Group and Attorney Todd Spodek to help you prepare a legally valid and emotionally charged prenup that reflects your needs and situation.
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By Spodek Law Group
August 28, 2020
