These are among the divorce and family law agreements commonly handled by attorneys at Aretsky Law Group, P.C. All are legally binding contracts.
Marital Settlement Agreements
Also known as a property settlement agreement, a marital settlement agreement is a contract that spells out the terms of a divorce. It covers the division of financial assets and marital property as well as debts. If children are involved, then child custody and other parenting time issues are also included. When the parties can agree on these important matters, then a marital settlement agreement is possible. It is only when the parties cannot come to an agreement that the court will intervene and divide the property for you.
A prenuptial agreement, often referred to as a prenup, is signed before the marriage takes place. It is designed to protect the financial and property interests of one or both parties should the couple later divorce.
A post-nuptial agreement is typically created for the same reasons as a prenuptial one; however, it is drawn after the couple has married.
A reconciliation agreement is a form of post-nuptial agreement. Its usual purpose is to help a couple who has separated try to make their marriage work. It may involve financial concessions by one of the parties should the couple eventually divorce.
A cohabitation agreement is created to protect parties who are living together in a long-term relationship but are not married. They may even have children together. To be enforceable, this agreement must be in writing and each party must be represented by independent counsel. The document generally deals with financial support and the sharing of property. It is crucial for cohabiting couples to have a written agreement not only in case of divorce but also to protect the survivor’s rights in the event of the other’s death.
Domestic Partnership Agreements
New Jersey couples who are 62 years of age or older who want to take joint responsibility for each other’s welfare can enter into a domestic partnership if they meet certain requirements. Because domestic partners do not have all of the rights and obligations of a married couple, it may be advisable for them to have a domestic partnership agreement to address those issues.
NJ Durable Powers of Attorney and Proxy Directives
The New Jersey Durable Power of Attorney can grant either broad-based or limited powers. This document is especially recommended for college students so that their parents can pay bills, move money, and make other financial decisions that may be necessary while the student is away at school. It is important to note that this document does not cover health care decisions; a separate proxy directive is necessary for that protection.
If you need help drafting one of these or another legal document, contact the experienced attorneys at Aretsky Law Group, P.C.