What do I Need to Know About Non-Marital Agreements?
Some people grow up dreaming of their weddings. Others know for a fact that marriage is not something they want. Both of these decisions are perfectly valid and acceptable. But, marriage does come with certain benefits. If you wish to remain unmarried but share some of these benefits with your partner, you may be interested in creating a non-marital agreement. Read on to learn more about non-marital agreements in New Jersey, what they do, and how to create one.
What are Non-Marital Agreements?
Many people in happy and committed relationships do not wish to get married. Instead, these people may choose to live with a partner. But, this arrangement does not include the same benefits as a marriage. As a result, you can make a non-marital agreement in order to receive some important benefits.
What are the Benefits?
- Giving power of attorney to one or both parties
- Allowing each party the right to make health care decisions for the other in the event of an emergency
- Giving each party the ability to be involved in health care decisions regarding their partner
- Allowing both parties to add their partner to a health insurance or life insurance policy
Non-marital agreements can also come in handy when it comes to the end of a relationship. Similar to a prenuptial agreement, this can help protect each individual’s properties in the event that they wish to separate. It can also determine any joint assets and how they should be divided.
How do I Know if my Agreement is Valid?
It is important to know that there are certain requirements that a non-marital agreement must meet in order for it to be valid. This can include the following:
- Both parties must be given a reasonable amount of time to consider the implications of entering the agreement with their partner before signing it
- Any assets that are mentioned in the agreement must be fully disclosed
- Neither party can be manipulated, coerced, or threatened by the other in order to influence or persuade them into signing the agreement
- Both parties must retain separate legal counsel when entering the agreement, or waive their right to counsel in writing
To make sure you have a fair and valid agreement, you should retain the help of a skilled family law attorney.
If you and your partner are interested in creating a non-marital agreement, contact our firm today. We are here to walk you through the process and discuss all of your options. Every relationship is different, and we will help you find creative solutions to all of your family law matters.
Contact our Firm
If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.