What Should I Consider Before Signing a Prenuptial Agreement?
Signing a prenuptial agreement is a big decision. Even presenting your partner with one can be a nerve-racking experience, although this can probably mostly be blamed on the reputation these documents have picked up thanks to TV and movies. A prenup does not mean that you do not trust your partner though. It can be an incredibly useful tool and there are many good reasons for any couple to have one. Just ask our marital agreement attorneys in Morris County, NJ.
Does a Prenup Have to Be Written?
It is important to note that any prenuptial agreement has to be written to be legally binding. A verbal agreement or “handshake” agreement is just not going to cut it. We can help you write a prenuptial agreement that protects the interests of both parties.
What Can You Do With a Prenuptial Agreement?
A prenuptial agreement allows both spouses to fully disclose their assets and liabilities. If you have a business, your interest in that company is also disclosed. The prenup can also set some rules about how assets are divided in marriage. In many cases, this agreement makes it easier for each spouse to keep what they brought into the marriage when the marriage ends.
Your prenup can also include provisions about alimony. Spousal support and the division of assets are often hotly contested issues in a divorce. Deciding on this now can save you a lot of time and money later, and it can help prevent more animosity developing between you and your partner during protracted litigation.
Can a Prenuptial Agreement Be Changed?
Yes, in some cases a prenup can be modified. The catch is that both of the spouses need to agree to this. If both parties agree, a prenuptial agreement can even be changed during their marriage.
Can a Judge Void a Prenup?
Unfortunately, not every prenuptial agreement is created equal. People who try to write up their own agreement could end up having their prenup struck down by the court. A judge can deem a prenup void if:
- One or both partners did not disclose all of their assets
- One partner only signed the agreement under duress
- One or both partners signed without fully understanding the contract
A prenup can also be struck down if it contains provisions that it should not. One of the most common examples of this is child support. You cannot cover this topic with your prenup because it’s something that the court would decide later with the child’s best interests in mind. So this provision of your agreement could be struck down, and in some cases the entire prenup can be nullified by the court due to mistakes like this.
Contact Our Law Firm
That is why we advise you to hire a lawyer. If you want to learn more about these types of agreements, contact Townsend, Tomaio & Newmark. We can schedule a consultation and tell you more about how you could benefit from the use of a prenuptial agreement. We look forward to assisting you.