While everyone enters into a marriage hopeful, unforeseen events can occur. For those who are just entering into their marriage but want to take all the precautions available to protect themselves, a Mercer County family lawyer from our firm can properly draft a prenuptial agreement for you and your future spouse. Contact The Law Office of Rachel S. Cotrino, LLC for an initial consultation today so we can discuss your goals.
What is a Prenuptial Agreement in New Jersey?
A prenuptial agreement (also referred to as a premarital or ante-nuptial agreement) is an effective way to protect your assets and your financial interests, such as:
- Homes & Real Estate
- Investment Accounts
- Trusts
- Business Assets
- Foreign Assets
In addition to protecting your assets and finances, a prenuptial agreement can also determine the final disposition of financial issues such as:
- Waiver of alimony
- Asset values
- Business interests
- Division of complex financial security holdings
- Division of stocks, bonds, and other investments
What Can’t Be Included in a Prenuptial Agreement in New Jersey?
While prenuptial agreements are a valuable tool for protecting your financial interests and establishing clear expectations before marriage, there are certain limitations as to what can legally be included. They are as follows:
- Child custody arrangements or parenting time provisions;
- Child support obligations or predetermined child support amounts;
- Terms that are unconscionable or extremely one-sided at the time the agreement is enforced;
- Provisions that would leave one spouse without reasonable financial support;
- Clauses that encourage or incentivize divorce;
- Any terms that violate public policy or are otherwise deemed unlawful by the court.
What Constitutes a Valid and Enforceable Prenup in NJ?
To have a legally valid prenuptial agreement in New Jersey, both parties must at least:
- Fully disclose all assets;
- Hire their own independent legal counsel;
- Enter into the prenuptial agreement voluntarily; and
- Have sufficient time to consider all the terms of the prenuptial agreement before marrying.
When Should I Get a Prenuptial Agreement in New Jersey?
Overall, a prenuptial agreement can be helpful to couples in nearly every situation. That being said, we highly recommend you consider getting a prenuptial agreement if you:
- Have significantly more assets than your spouse.
- Earn significantly more than your spouse.
- Are marrying someone with significant debts or student loans.
- Own a business.
- Anticipate receiving an increase in income during the course of the marriage.
- Are the beneficiary of a trust.
- Anticipate receiving a large inheritance or other substantial assets.
- Were previously married.
- Have children from a prior relationship.
Can I Create a Prenup if I’m Already Married?
If you are already married, you cannot create a prenuptial agreement, as prenuptial agreements must be entered into before the marriage takes place. However, that does not mean you are without options. In New Jersey, married couples can enter into what is known as a postnuptial agreement, which serves a similar purpose but is executed after the marriage has already begun.
A postnuptial agreement can address many of the same financial issues as a prenuptial agreement, including how assets and debts will be handled, whether alimony will be paid, and how certain property will be divided in the event of a divorce. These agreements can be particularly useful if your financial circumstances have changed during the marriage or if you simply did not have a prenuptial agreement in place beforehand.
Contact a Compassionate Prenuptial Agreement Lawyer in New Jersey
We have extensive experience in handling prenuptial agreements, and we will formulate a plan that meets your goals now and in the future. Contact a family lawyer from The Law Office of Rachel S. Cotrino, LLC today to get help with your prenuptial agreement.
