It’s common for engaged couples to be hesitant when creating a prenuptial agreement. Despite the various benefits of this legal contract, many couples believe that signing it will admit a lack of trust or commitment. Even further, they acknowledge that the marriage won’t last. However, that is not the case. A prenutpial agreement can offer both parties numerous protections before entering a marriage. Before signing a prenuptial agreement, there are a few things that you should consider to determine whether this document is suitable for your relationship. If you’re interested in establishing this agreement, please don’t hesitate to contact an adept Ocean County Prenuptial Agreement Attorney who can help you draft a well-constructed plan to protect your future.
What should I consider before signing a prenuptial agreement in New Jersey?
Before you sign a prenuptial agreement, it’s imperative that you thoroughly review it as it is a legally binding contract. That being said, the provisions you outline will be enforced in the event of a divorce, incapacitation, or death. It’s just as important to have the agreement reviewed by your attorney to ensure it is fair and serves your best interests. In addition, your attorney will be able to assist you in ensuring that you meet state-specific compliances and validity requirements.
Each state has its own set of regulations for valid prenuptial agreements. Therefore, you should consider that you must meet the strict requirements imposed by the state of New Jersey for this legal contract to be enforceable in court. If you fail to meet these requirements, you risk this document being thrown out and the decisions regarding the terms that will apply to terminating your marriage in the court’s lap. This means that assets you stipulated as separate property may be considered marital assets and subject to equitable distribution during property division.
Do I need to differentiate between separate and marital property?
Before you sign this legal contract, you must consider what you want to include in the provisions. Depending on your intentions for creating the prenuptial agreement, whether to protect yourself against your spouse’s debts or to ensure your separate property remains in your possession, you should discuss with your partner what you want to outline in this agreement. New Jersey is an equitable distribution state, meaning marital property will be divided fairly between divorcing parties, not necessarily in an even 50/50 split. Your spouse may be awarded a larger share of marital assets. To prevent this, you must distinguish what assets are separate property as they will not be subject to equitable distribution.
Ultimately, you should consult a seasoned Ocean County prenutpial agreement attorney who can help ensure you meet the validity requirements and cover all your bases to protect your future.