If you are ready to say, “I do,” then the last thing on your mind is a divorce, which is completely understandable. Marriage is one of the most special bonds that can exist between humans. However, unfortunately, marriage does not always work out. Life sometimes takes unexpected turns, so it may be wise to plan for the worst. Thankfully, this kind of preparation comes in the form of a prenuptial agreement, and you will not have to think about or focus on it for long. By drafting a prenuptial agreement, you give yourself the financial breathing room you may need to focus on life’s more important things. If this sounds like something you may be interested in, here are some of the questions you may have:
Why would I get a prenuptial agreement?
If you and your spouse choose to get a prenuptial agreement, you may avoid the litigation process altogether in the event of a divorce. Instead of wasting time, energy, and money on hashing out who gets what, it will already be written on paper. Essentially, a prenuptial agreement may help you protect your hard-earned assets in case things do not go as planned. Additionally, a prenuptial agreement may protect your family’s inheritance as well.
What are some of the additional issues a prenuptial agreement may cover?
Prenuptial agreements can cover a wide array of concerns, which is part of the reason why they are so important. Here are some additional elements a prenuptial agreement may address:
- The rights of both spouses to buy, sell, transfer, exchange, or manage specific assets or properties of their marriage
- The rights of both spouses to join and separate property during, or after, their marriage
- How spousal support will be handled in the event of separation or divorce
- The handling and ownership of life insurance policies
- Potential child custody or visitation issues
- The division of property in the event of death, separation, divorce, or any other circumstances
- Any other issue concerning personal rights and obligations the couple may wish to address, as long as they are not against public policy
Is my prenuptial agreement valid?
There are five primary qualifications for a valid prenuptial agreement. A prenuptial agreement:
- Must be in writing
- Must be notarized
- Must include a full disclosure at the time of execution
- Must be fair and just for both parties
- Must be executed before marriage
If you are already married, you may not draft a prenuptial agreement. However, you may still draft a postnuptial agreement, which is essentially the same document, though you and your spouse will draft it after you are already married.
Contact our New Jersey firm
Before taking any sort of legal action, it is important to discuss your legal matter with an experienced attorney. Contact The Radol Law Firm to discuss any divorce and family law matters you may be faced with.