Most couples do not consider the possibility of a divorce, especially when they are about to get married. This makes perfect sense, as those who are engaged or plan to get married are in love. However, life does not always go as planned, and if your marriage dissolves, you’ll wish you were prepared. Fortunately, you and your spouse-to-be may draft a prenuptial agreement to protect your assets from the beginning. More and more couples are getting prenuptial agreements, so you should not let the old stigma of getting one prevent you from doing so. If you are considering drafting a prenuptial agreement, here are some of the questions you may have:
What are the benefits of a prenuptial agreement?
The primary purpose of a prenuptial agreement is to protect your hard-earned assets from the potential legal pitfalls of the litigation process. Instead of throwing caution to the wind and entering a marriage without financial security, it may be wise to draft a document that clearly states what belongs to you. Additionally, a prenuptial agreement may help you protect your family’s inheritance, which may be up for grabs in a divorce that falls into the litigation process. Here are some of the specific terms you may wish to address in your prenuptial agreement:
- Potential child custody or visitation issues
- The handling and ownership of life insurance policies
- How spousal support will be handled if you separate or divorce
- How property will be divided if you separate or divorce, or if one spouse dies
- Both spouses’ right to join and separate property during, or after their marriage
- Both spouses’ rights to buy, sell, use, transfer, exchange, or manage specific assets or properties of the marriage
- Any other issue concerning personal rights and obligations the couple may wish to address, given they are not against public policy
How do I know if I have a valid prenuptial agreement?
All prenuptial agreements must meet certain requirements to be considered valid. All prenuptial agreements:
- Must be voluntary
- Must be fair and just
- Must be notarized
- Must be in writing
- Must include a full financial disclosure
You should note that if you are already married, you are no longer eligible to draft a prenuptial agreement. However, you may still draft a postnuptial agreement. A postnuptial agreement essentially serves the same purpose of a prenuptial agreement, except you and your spouse will draft it after you are already married.
Contact our experienced New Jersey firm
Ross and Calandrillo, LLC is a full-service divorce, family, and real estate law firm located in Mountainside, New Jersey. For strong legal representation in all of your divorce or family law matters, contact Ross and Calandrillo, LLC to schedule a free consultation.