Pre and postnuptial agreements are becoming increasingly common. In New Jersey, many couples enter into pre or postnuptial agreements in order to clearly define and adequately protect their assets. Couples enter into prenuptial agreements before marriage, which are then effective during the marriage. Postnuptial agreements are agreements couples enter into after getting married, which are effective during the marriage. They both have the same purpose: to outline and establish agreements on how to handle things in a separation or divorce. They commonly include provisions on custody and parenting time, how to divide marital assets, and what to do with complex assets such as family businesses. Some people mistakenly think such agreements are only necessary for high net-worth couples. In reality, many couples can benefit from pre and postnuptial agreements and here’s why.
Most soon to be and newly wedded couples prefer not to consider what would happen if they divorced down the road. Too few couples seriously consider this potential outcome before marriage. But divorce statistics are both widely known and remain relatively constant, meaning there is a chance you could divorce one day. In the event of a divorce, legally sound pre or postnuptial agreements can go a long way toward making divorce more efficient and less painful.
Pre and postnuptial agreements typically include provisions for dividing assets. Taking the time to outline each spouse’s separate property and the property they expect to share can make dividing those assets later much more manageable. Likewise, it’s much easier to claim separate property with a pre or postnuptial agreement in place. Spouses facing divorce bear the burden of proving what property is separate property, which can be difficult to do after years of sharing bank accounts and financial responsibilities.
Both spouses entering into a pre or postnuptial agreement should have his or her own attorney review it. But even with this expense, such agreements can save you the costs of protracted divorce disputes down the road. Fighting over who gets what can get contentious after a heartbreak or a betrayal, but agreeing on these matters is often easier, quicker, and cheaper when done from the beginning of the relationship.
One huge benefit of having a pre or postnuptial agreement in place is peace of mind knowing you are both on the same page about how you will split ways if the time came. Some spouses stay in unhappy marriages for fear they will lose everything. A robust legal agreement in place can ease those fears and permit each spouse to make decisions about the marriage guided more by their happiness than the future of their savings account.
Whether you have kids going into your marriage or create an agreement once you have children, discussing how you would share parenting responsibilities should you split is much easier if you are both still happily together. No legal document is more important to the continued success of a modern family than an agreement that addresses these very crucial issues.
Consult with a seasoned New Jersey family law and matrimonial attorney if you are ready to protect your future interests. At any stage in your relationship, you can benefit from a pre or postnuptial agreement, as they put protections in place that can ease your decision-making should you separate. Even if you aren’t concerned about assets, these agreements can go a long way toward protecting your children’s best interests, which is reason enough to draft one of these incredibly powerful legal documents at any point.
If you want to protect your future interests, the Williams Law Group, LLC is here to help. The experienced matrimonial attorneys at Williams Law Group, LLC can help you put valuable protections in place. Located in Short Hills, New Jersey, Williams Law Group, LLC provides compassionate and dedicated legal services to Union, Bergen, Essex, Hudson, Morris, Monmouth, and Middlesex counties, and the surrounding areas. Our knowledgeable attorneys handle divorce and family law, child custody, and child abuse/neglect cases. Call our office at (908) 810-1083, email us at firstname.lastname@example.org, or contact us through our confidential online form to schedule a consultation and ultimately get you connected with an experienced New Jersey divorce and child custody attorney.