Montclair Marital Agreement Lawyer
Marriage is a significant step in life, and in society today, many individuals have shared children and own their property, especially when they are not marrying for the first time. These individuals understandably want to protect themselves and their children, as well as their assets. Marital agreements can help do this.
These documents can strengthen your relationship and create certainty about your needs and concerns. All types of marriage contracts can be useful in structuring the rights and responsibilities of each party in a marriage. A Montclair marital agreement lawyer could work with you to discuss your options and draft an arrangement that best meets your needs. Our experienced family attorneys could be an asset no matter what issues you are attempting to clarify and solidify in your relationship.
Types of Marriage Agreements
People can enter various marital agreements depending on their situation. Some of the most common marital contracts are prenuptial and postnuptial agreements. Couples enter premarital agreements before they are married, whereas they enter postnuptial contracts after their wedding. Prenuptial agreements allow parties to negotiate and reach an agreement on specific issues in anticipation of a wedding occurring. Alternatively, various events may cause individuals to create a postnup, but they typically arise when disagreements have arisen during the marriage, or significant financial changes have occurred. A marital contract attorney could help an individual in Montclair draft an agreement that meets all requirements for a legally valid and enforceable document.
Provisions of Marital Agreements
In New Jersey, parties often enter these agreements to clarify their rights about various issues. While some marital agreements typically come into effect during a divorce, other contracts may address inheritance issues that arise if one party passes away during the marriage. For instance, some typical provisions in marital agreements may:
- Protect separate property belonging to one spouse from becoming subject to division during a divorce
- Clarify that spouses are solely responsible for specific individual debts, such as substantial student loans
- Set parameters on how parties will share or contribute to expenses for the marital residence, vehicles, or other purchases
- Create standards as to the duty of the spouses to financially support one another if they later divorce
- Determine how inheritance may be divided among children in the event of the death of one party
Although marital contracts can address a wide range of financial issues, they typically cannot discuss issues related to children that the parties share or may share in the future. For instance, a provision that describes which spouse will have custody of children born during the marriage would typically be unenforceable. As a local marital agreement lawyer may advise, issues involving children are resolved with a Judge’s final decision. This means a couple cannot contract terms for child support or custody in advance.
The Benefits of Marital Contracts
When appropriately executed, marital agreements can make a separation of a couple in New Jersey far more efficient. This step can reduce the stress, decisions, and costs that often arise in the context of divorce proceedings. Both parties may have a better idea of what to expect from a financial perspective if they later divorce, which provides a measure of certainty and security that may not usually be present in divorce proceedings.
Marital agreements also give spouses the opportunities to protect their children who were born before their current relationship. For instance, individuals may want to assure that these children inherit specific assets, such as a house or jewelry, in the event of their death, without fear of their spouses claiming ownership of it.
Contact a Montclair Marital Agreement Attorney Today
Marital agreements can be an effective means for couples to communicate with one another and address outstanding concerns. By tackling financial issues before they become subject to dispute, couples can make their futures more certain if life does not go as planned. A Montclair marital agreement lawyer could facilitate the process of drafting, negotiating, and finalizing these types of documents.
Although couples may not anticipate divorce, circumstances and people change over time, which can significantly alter expectations. By thoroughly discussing and deciding some critical issues ahead of time, couples can have a road map if their relationship changes. For help drafting your martial contract, call today.