A prenuptial agreement is a document that declares how a couple’s assets will be split in the event of separation, death, or divorce. Because of the negative connotations, many couples avoid signing prenups. In fact, a lot of couples do not even discuss the idea for fear of causing tension. Prenuptial agreements may have a bad reputation, but in reality, they can be extremely beneficial to both parties. Read on to learn more about prenuptial agreements in New Jersey.
Why Should I Make a Prenuptial Agreement?
As stated above, a prenuptial agreement is beneficial to both parties. This is because it can leave you feeling safe and secure going into your marriage. Another benefit is that it can get some of the uncomfortable financial conversations out of the way before the marriage, rather than during. By creating a prenup, both you and your future spouse can enter your union with a better understanding of each other and a sense of security.
What can be Included in a Prenup?
In your prenuptial agreement, you can make decisions about what will happen to your and your partner’s inheritances, life insurance policies, rights to buy, sell, or otherwise manage assets, and the rights of both spouses to join or separate property during or after their marriage. It is important to note that there are some issues that cannot be addressed in a prenup, such as child custody.
What Makes a Prenuptial Agreement Valid?
A prenuptial agreement is an incredibly important document. As a result, there are a number of requirements that must be met in order to ensure the prenup is valid. To create a valid prenup in New Jersey:
- The document must be in writing
- Both parties must provide full disclosure at the time of execution
- The document must be notarized
- The document must be fair and just for both parties
- The agreement must be executed before the marriage
What if I Did Not Get a Prenup and I Changed my Mind?
If you got married without a prenup and later realized you would like to create an agreement, you can create a postnuptial agreement. This is the same document, only created during the marriage, rather than before.
If you are interested in creating a prenuptial or postnuptial agreement, contact our firm today. We are here to walk you through all of your family law matters.
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