Articles Tagged with prenup

Crazy About Your New Spouse, BUT You Want a Prenup!

In this day of multiple marriages, we are all entering into our nuptials with a lot more “history.”  We may have substantial assets, large incomes, or one or both parties might have large outstanding debt.  It may not be romantic, but many couples today are choosing to be 100% committed on everything but the finances.  

Therefore, a common question people ask a divorce attorney in Bergen County such as Eric or Dolores Aretsky, is what things should be included in a prenuptial agreement? Your agreement should be tailored to your individual circumstances, but here are some things that should be covered: 

As divorce attorney Bergen County we often represent people in creating prenuptial agreements. Did you know that if you don’t each have your own lawyer when drawing up your prenuptial agreement, it will be unenforceable?  In creating a prenuptial agreement, both parties must have independent counsel. Many couples are under the impression that they can have only one attorney represent the both of them. Of course engaged couples would like to save legal costs, and hiring attorneys adds up. The courts require, however that each person have his or her own legal counsel. When you retain an attorney, they will only be able to represent one of you, and are required to advise the other party to get their own lawyer. By having proper representation and following the recommendations of your attorneys, you can make sure that your prenuptial agreement fairly represents both party’s interests, and that it is one that will be upheld in court should you ever get divorced.

A family lawyer Bergen County can help make sure your interests are protected in your prenup, and that the agreement you make is one that will be enforceable in court. An oral contract is not sufficient. The agreement has to be in writing to be enforceable. Its important that both parties fully disclose their circumstances in the prenup and in the attached statement of assets. If someone is not honest or forthcoming in this process, the contract may be unenforceable.

In determining whether or not to honor a prenuptial agreement, the court will consider whether the process for coming to it was fair. If either party unfairly manipulated the process, the contract may not be honored. For this reason its wise to consult an attorney in creating the prenuptial agreement. Ultimately, the contract is yours and the two of you must agree to it together and have it notarized for it to be valid.

Many couples choose to consult a family lawyer Bergen County to create a prenuptial agreement before getting married. A prenuptial agreement, sometimes called a premarital agreement, antenuptial agreement, or “prenup” is a contract used by a couple to determine what each party’s rights and obligations will be if they ever get divorced (or sometimes if one party dies). A prenup may also used to protect property during the marriage, or protect one party  from their spouse’s debts.

The written agreement can be drawn up with an attorney to include things like spousal support or the division of assets, should you get divorced. It may identify certain conditions that would be different should the marriage ever end because of adultery.

If you are engaged, having a good prenuptial agreement can provide security for you, knowing that you will not have to go through the financial and emotional strain of settling these things in court if you ever get divorced. The contract goes into effect once you are married.