Postnuptial Agreements in New Jersey | What to Know
If you did not create a prenuptial agreement before your marriage, and you later change your mind, you may be wondering what options you have. Luckily, you can create a postnuptial agreement. Read on to learn more about postnuptial agreements in New Jersey.
What is a Postnuptial Agreement?
A postnuptial agreement is the same thing as a prenuptial agreement. The only difference is that it is created during the marriage, rather than before. A prenuptial agreement is a document that declares how a couple’s assets will be divided in the event of separation, divorce, or death. Many people avoid creating prenuptial and postnuptial agreements because they can be uncomfortable to discuss, but they can be extremely beneficial to both parties.
Should I Create a Postnuptial Agreement?
You may want to consider creating a postnuptial agreement under the following circumstances:
- The couple did not define their financial relationship in a prenuptial agreement and now wish to do so
- One spouse’s financial situation experienced significant changes. This may happen if they receive a large inheritance, a job promotion, or acquire stocks or investment options.
- The marriage’s stability is affected by financial insecurity
- Both spouses want to avoid the uncertainty that comes with not having a plan in place in the event of a separation
- One or both spouses want to secure financial support for children from a previous marriage
Is My Postnuptial Agreement Valid?
It is important to know that there are certain guidelines that must be followed when creating a postnuptial agreement. This ensures that it is a valid, legal document. In the event that the agreement is made unlawfully, it can be deemed invalid and not be able to be used in court. There are five main qualifications for a postnuptial agreement in New Jersey:
- The terms must be fair and reasonable to both spouses
- Both spouses must have time to reach an informed decision about whether or not they want to sign the agreement
- A spouse cannot be manipulated, coerced, tricked, or pressured into signing the document
- Each spouse must retain separate legal counsel or waive their right to counsel in writing
- The financial status of each spouse and their assets must be accurately and fully disclosed before the signing
Contact our firm to create a prenuptial or postnuptial agreement. Our experienced attorneys are here to walk you through the process each step of the way.
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