You might’ve heard the common misconception that prenups are only useful for high-net-worth spouses. In reality, prenuptial agreements can be beneficial to couples of any financial status. Prenups allow couples to protect their assets and plan for the future by determining how property will be handled during and after marriage. However, sometimes spouses eventually need to revise their initial prenuptial agreement. This is not necessarily a bad thing. To find out why, read this blog or reach out to an Ocean County Prenuptial Agreement Attorney today!
IS IT LEGAL TO REVISE A PRENUPTIAL AGREEMENT IN NJ?
Yes, prenuptial agreements may be legally altered in New Jersey. Couples can also choose to nullify their initial prenup contract if they feel the agreement is no longer relevant. Many married couples today also create postnuptial agreements in order to change their prenups. As you might imagine, postnuptial agreements are nearly identical to prenuptial agreements. The only real difference is that prenups are created before marriage, and postnups are created during or after marriage. While prenups can serve many functions, most postnups focus on how marital property would be divided if the couple were to divorce.
WHY DO SPOUSES REVISE THEIR PRENUPS?
There is a wide range of possible reasons why a married couple might decide to change their initial prenup. Many aspects of a person’s life change once they are married for some time. So, it’s no surprise that a couple’s financial status changes throughout the course of a marriage. Most often, a couple doesn’t want their prenup anymore if the terms of the agreement are no longer relevant. Other than changing circumstances, the most common reasons for a couple deciding to revise their prenuptial agreement include:
- The couple has had children who need to be accounted for in the agreement
- Additional property or assets need to be added to the agreement
- The couple wants to redistribute their property allocation
- New information has been discovered
DO I NEED TO HIRE A LAWYER?
If you decide to change your prenup, you should keep in mind that most New Jersey courts view prenup changes with a degree of scrutiny. This is because it’s not that uncommon for one spouse to try to intimidate the other spouse into changing the prenup. To ensure that the judge knows that no one is being coerced, it’s best if both spouses hire their own lawyer if possible. Both spouses should be represented when revising a prenuptial agreement.
Are you considering altering your prenup in New Jersey? Are you seeking an experienced family law attorney who has your best interests in mind? Look no further because the Law Office of Sarina Gianna, LLC is on your side! Contact our compassionate team today for an initial consultation.