Prenuptial Agreements Overview
A prenuptial agreement may also be called a premarital agreement or an antenuptial agreement. This is an agreement that is entered into between you and your prospective spouse prior to your marriage and it becomes effective upon marriage. The agreement sets forth each spouse’s rights upon divorce, death, or separation.
Prenuptial agreements are effective planning tools that assist parties in avoiding disputes and costly litigation in the unfortunate event of divorce. By fixing each party’s interests, rights and claims, the agreement serves as an effective way to protect your family, finances and assets. Specifically, a prenuptial agreement allows parties to determine how premarital and separate assets will be divided; how joint marital assets will be distributed; and if, and how much, alimony will be paid. Even though such an agreement may address almost every aspect of a marriage, it may not limit or adversely affect the right of a child to support.
While many couples today recognize the benefits of a prenuptial agreement, it is especially important to consider such an agreement in certain circumstances such as: if you own a business; you were previously married; you have children from a former marriage; you have significantly more assets or earnings than your future spouse; you actively manage your own investments; or your future spouse has substantial debts.
When considering a prenuptial agreement, it is especially important to retain an attorney who is skilled in drafting such agreements which are governed by the Uniform Premarital and Pre-Civil Union Agreement Act, N.J.S.A. 37:2-31 to 41. The enforceability of such agreements is dependent upon several factors including: voluntariness; a full and fair disclosure of each party’s earnings, property, and financial obligations; consultation with independent legal counsel absent a written waiver of same; and a writing executed by both parties.
The family lawyers at DCS are experienced in negotiating and drafting prenuptial agreements as well as moving to set aside agreements that do not meet the statutory requirements. We recognize that your circumstances are unique, and we are here to assist you in protecting your interests.