A prenuptial agreement can help couples shield assets, establish financial responsibilities, and clarify expectations prior to marriage. In New Jersey, prenuptial agreements often involve matters related to the division of assets, alimony, debt, inheritances, and business interests. Many matters may be addressed in a prenup in Union County and throughout New Jersey, and any couple can benefit from the legal protection that it offers. Work with a prenuptial agreement attorney in Mountainside to learn how you can benefit from a prenup and acquire skilled representation and advice.
What Is a Prenuptial Agreement?
A prenuptial agreement, also known as a prenup, is a legal contract made between two people who are engaged to be married. The prenup serves the purpose of protecting both parties financially if the marriage does not work and the couple decides to get divorced or in the event of death.
The number of couples choosing to sign a prenup has increased astronomically over the years. It is no longer seen just as a way for a wealthy person to shield their assets. Instead, couples of all income levels utilize these agreements to protect assets, determine debt allocation, preserve inheritances, and establish expectations before a marriage.
Common Reasons Couples Establish Prenups
- Protect separate property acquired before marriage
- Establish how marital property will be divided
- Protect family inheritances or heirlooms
- Clarify business ownership or professional practices
- Outline responsibility for debts
- Establish expectations for spousal support
- Reduce future disputes and litigations
- Shield children from a previous marriage
What Matters Should I Address in My New Jersey Prenup?
A prenuptial agreement can include many financial and property-related matters. As such, these agreements should clearly and explicitly define each party’s rights and financial responsibilities. This helps ensure both spouses understand how matters will be handled in the event of a divorce.
Assets and Debts
Your prenup should differentiate marital assets and debts from separate assets and debts. You can state that any assets a person had before the marriage are separate and will not be subject to division. Also, include how inheritance and gifts will be managed.
Property division
Include property division and outline who will receive which property in the event of a divorce, so as to avoid New Jersey’s equitable distribution of assets process. Will the family home be sold and the profits split? Will one person maintain ownership of the vacation house? Who will keep the cars, jewelry, and more?
Alimony
In your prenup, you can decide which spouse will pay alimony. You can specify how much they will pay and for how long, or other spousal support options.
Marital Responsibilities
While things like cleaning or romantic gestures cannot be legally enforced in a prenuptial agreement, you can define expectations for certain responsibilities. You can include who is expected to pay the bills, fund certain expenses, file tax returns, manage bank accounts, and more.
Children From Prior Relationships
If you or your spouse has any children from previous marriages, you should include them in the prenup. Establish how the kids will be provided for and what their rights are to certain inheritances. Including these details can help protect your children and ensure they have access to their inheritance if you were to pass away.
Pet Custody
New Jersey courts consider pets to be property, which means they would be subject to division. A court will have the power to say whether one or the other spouse receives any family pets during a divorce. If you and your spouse want to, you can include pet custody agreements and visitation rights. You can work out a schedule and pet support plan as well.
What Cannot Be Included in a Prenuptial Agreement in NJ?
It’s important to understand that, while many matters may be addressed in a prenuptial agreement in New Jersey, there are certain provisions that are unenforceable. As such, if a prenup includes these matters, courts in New Jersey, including those throughout Central and North Jersey, like Union County, Essex County, Morris County, and Hudson County, will not uphold provisions that unfairly disadvantage one party, fail to uphold legal rights, or violate public policy.
Common Terms Courts Often Refuse to Enforce
- Matters related to child custody
- Waivers of child custody support that violate New Jersey Law
- Provisions that encourage divorce
- Lifestyle requirements related to personal behavior or intimacy
- Terms deemed grossly unfair or unconscionable
What Makes a Prenup Legally Valid in New Jersey?
For a prenuptial agreement to be considered legally valid and enforceable in New Jersey, both parties must voluntarily enter the agreement and fully understand the terms. The agreement must be carefully drafted and reviewed well before the wedding date.
Requirements for an Enforceable Prenup in New Jersey
- The agreement must be in writing
- Both parties must voluntarily sign this agreement
- Full financial disclosure has been provided
- The terms must not be unconscious
- Both parties must have time to review the document
- Both parties are strongly encouraged to consult independent counsel
Contact an Experienced Mountainside Divorce Attorney
If you are considering establishing a prenuptial agreement in Union County or the surrounding New Jersey communities, working with an experienced attorney at Ross & Calandrillo is in your best interest. We understand that these matters can be complicated, which is why we are committed to helping you through this process so you can feel confident every step of the way. When you need help, do not hesitate to contact our team today to learn how we can assist you.
