One of the scariest things a couple can do is get a divorce. When a couple gets divorced, they are oftentimes forced to endure the emotionally and financially draining litigation process. When you enter the litigation process, your assets will be up for equitable distribution. Unfortunately, “equitable” very rarely means “equal.” Essentially, “equitable distribution” means that the courts will divvy your assets according to what they believe is a fair and just compromise.
However, when this happens, one spouse usually feels like the agreement reached is far from fair and just. Fortunately, this process can be completely avoided if you and your spouse draft a prenuptial agreement. If this sounds like something that appeals to you, here are some of the questions you may have:
Why would a couple decide to draft a prenuptial agreement?
There are several reasons outside of avoiding the litigation process that a couple may wish to draft a prenuptial agreement. Some potential reasons for drafting prenuptial agreements are as follows:
- Future spouses want to join or separate property during or after their marriage.
- A couple seeks to address child custody or visitation issues, should they get a divorce
- A couple wishes to document how life insurance policies should be owned and managed
- A couple wants to predetermine spousal support in the event of a divorce
- Future spouses want to document how property will be divided in the event of a divorce, separation, or death
- A couple wishes to document the rights of both spouses to abandon, sell, buy, or transfer specific assets and marital properties
What makes a prenuptial agreement valid?
Unfortunately, a detailed and well-thought-out prenuptial agreement means nothing if it is not valid and legally enforceable. In New Jersey, a valid and enforceable prenuptial agreement must meet the following standards:
- They must be in writing
- They must be notarized
- Prenuptial agreements must be executed before marriage
- They must include a full disclosure when executed
- Prenuptial agreements must be fair and just to both parties
Fortunately, if you are not already married, you are not out of luck. If you are married and have not drafted a prenuptial agreement, you may draft a postnuptial agreement. These serve the same purpose as prenuptial agreements, though they are drafted after marriage.
Contact our compassionate New Jersey firm
Matters of divorce and family law require the attention and skill of an experienced attorney who will fight for your future. Not only is your financial well-being at stake, but in a divorce, both you and your children’s emotional well-being are at risk as well. If you need a divorce and family law attorney in Ocean County, New Jersey, please do not hesitate to contact the Law Office of Sarina Gianna, LLC today to schedule a consultation.