If you’re like most people you believe in planning for the future. Unfortunately, we never know what life may throw our way next, so it’s important to always have a “plan b” in place, so to speak. In today’s day and age, more and more young couples are recognizing this, and more and more couples find themselves drafting prenuptial agreements. Having a prenup in place is a great way to safeguard your hard-earned assets, should you ever get a divorce down the line. That being said, for a prenup to be considered valid and enforceable in New Jersey, it must first meet a wide range of criteria. Please continue reading and reach out to our dedicated marital agreement attorneys in Morris County, NJ to learn more. Here are some of the questions you may have:
What makes a prenup valid and enforceable in New Jersey?
For a prenup to be considered valid and enforceable in the eyes of New Jersey law, it must meet the following qualifications:
- The prenuptial agreement must be fair and equitable to both parties
- Both parties must include full disclosure of their assets
- Both parties must retain legal representation or sign a document waiving their right to representation
- There must be no evidence of coercion or manipulation in signing the document
- Both parties must have had enough time to review the agreement before signing it
- The agreement must be executed before marriage
- The agreement must be in writing and notarized
What can I outline in my prenuptial agreement?
Prenuptial agreements can have as broad of a scope as you would like, except they cannot be used to decide on future child support or custody terms. Those must be decided at the time of the divorce. However, in a prenuptial agreement, you can:
- Outline who will get to keep certain assets, such as funds in bank accounts, a family business, vehicles, or personal possessions, like jewelry.
- Outline future alimony terms.
- Outline who will be responsible for paying off certain debts, such as student loans.
If you are already married, you can no longer draft a prenuptial agreement, but you can still draft a postnuptial agreement. A postnuptial agreement serves the same basic purpose as a prenuptial agreement, but a postnuptial agreement is executed solely after marriage.
If you have any additional questions or want to speak with a dedicated family law attorney about drafting a pre or postnuptial agreement, simply contact TTN Law today. We are here to help.
