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. 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 avoid their spouse taking half of their money. Many subjects can be put in a prenup 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 Topics Should I Put in My Prenup?
- 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. 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 previous marriages – If you or your spouse have 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.
- Child custody – Child custody and child support wishes can be included in a prenuptial agreement, although it is important to note that they are not always legally enforceable. Depending on certain circumstances a court has the power to overrule child custody stipulations in a prenup, but it can be beneficial to include them regardless.
- 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.
