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Protect Your Financial Future With A Prenuptial Agreement

Entering into a marriage is a significant milestone. For many couples, it is also a time to establish clear expectations about their financial future. Prenuptial agreements are not just for the wealthy. A marital agreement is a valuable tool for any couple who wants to enter a union with confidence and transparency. By clarifying financial rights and obligations, you can reduce the stress of the unknown and focus on building your life together.

Family law attorney Sandra Fava has dedicated her legal career to helping Morristown families. Fava Law LLC is dedicated entirely to family law. Sandra and her attorneys provide practical guidance based on experience. If you need to draft or review a prenuptial or antenuptial agreement, they will safeguard your interests and provide you with peace of mind.

What Is A Prenuptial Agreement?

A prenuptial agreement, or a prenup, is a marital agreement that a couple enters into before they get married. The agreement outlines how they will manage their assets, debts and financial responsibilities during their marriage. It also addresses what will happen in the event of a separation, divorce or death.

Under the New Jersey Uniform Premarital and Pre-Civil Union Agreement Act, a prenup is legally binding as long as it meets specific requirements. These requirements include full financial disclosure and voluntary signatures from both parties. A prenup is a proactive planning tool designed to make sure both partners are on the same page from the start.

What Is The Difference Between A Prenuptial Agreement And A Postnuptial Agreement?

Prenuptial agreements and postnuptial agreements are both marital agreements. A prenuptial agreement is finalized before the marriage. However, even if couples don’t think to enter into a prenuptial agreement before they get married, they can still enter into a marital agreement. A postnuptial agreement can cover all of the same content. Regardless of the label used, the goal is to predetermine financial outcomes and avoid the uncertainty of equitable distribution laws in the event of a divorce.

What Can A Prenuptial Agreement Include In New Jersey?

New Jersey law offers significant flexibility to couples entering into a marital agreement. A well-drafted agreement can cover a wide range of topics to protect your financial security. These include:

  • Property division: You can specify which assets remain separate property. In addition, you can also determine how you will divide marital assets if the marriage ends.
  • Spousal support: Couples can agree to waive alimony. They can also set specific limits on the amount and duration of spousal maintenance.
  • Debt responsibility: The agreement can assign responsibility for premarital debts, such as student loans, to the person who incurred them.
  • Business interests: If you own a business, you can agree that it remains your separate property and is not subject to division.
  • Inheritance and estate planning: You can protect the inheritance rights of children from a previous relationship or agree that certain family heirlooms stay within your family.

Any couple can benefit from a marital agreement. A prenup agreement is designed to protect your financial interests and establish financial terms in advance of a separation, divorce or death. It is especially helpful in divorces involving significant assets. However, under New Jersey Law, certain terms and conditions cannot be included in a prenup.

What Cannot Be Included In A New Jersey Prenup Agreement?

In New Jersey, a prenuptial agreement cannot include child custody arrangements or establish child support. The New Jersey courts make decisions based on what is in the best interests of the child at the time of the parents’ separation.

Additionally, a marital agreement cannot include lifestyle clauses that dictate personal behavior. This includes chores, physical appearance or intimacy requirements. Finally, the court will not enforce any unconscionable provisions. In other words, an agreement cannot be deceptive or so one-sided that it would leave one spouse in extreme financial hardship.

Speak With A Morristown Prenuptial Agreement Lawyer

Whether you are protecting a high net worth estate or simply seeking clarity, the lawyers at Fava Law provide individualized attention and practical guidance. To schedule an appointment, you can call the firm at 973-524-6245. You can also send a message through the firm’s website. All inquiries are strictly confidential.