Prenuptial Agreements New Jersey
Prenuptial Agreements
Hearing wedding bells? Thinking of marriage? Trust us, you’re going to want a New Jersey Prenuptial Agreement Lawyer
You’re in love! There’s been a proposal, a diamond ring, and an answer in the affirmative. There’s a wedding to plan, a honeymoon to daydream about… a new life as a married person. You’re getting married! (Congratulations!)
Not to pump the brakes and hit pause, but whether you or your betrothed come from economic means or not, a prenuptial agreement is a smart idea. (Yes, they’re not just for the wealthy— did you know prenuptial agreements can also protect you from accrued pre-marriage debt?) And a New Jersey Prenuptial Agreement Lawyer can assist you in entering a prenuptial agreement and protecting you and your assets as you enter marriage.
Prenuptial agreements are not a sign of a weak relationship— a relationship that’s doomed to divorce— but a healthy, functional, honest relationship where both parties have taken the time to manage their finances and be forthright with each other’s financial expectations.
What might a Prenuptial Agreement protect?
- Real Estate Property
- Investment Accounts
- Business Assets
- Foreign Assets
- Trusts
- Inheritances
Additionally, if you fall into the category of ‘previously married,’ you may wish to protect assets accrued from a divorce in your new prenuptial agreement.
Let’s look at why a prenuptial agreement may be right for you, and how to effectuate one:
- Prenuptial agreements are on the rise in America, driven by marrying millennials. As many as 40% of people between ages 18 to 34 who intend to marry have signed a prenuptial (or “prenup”) agreement. Why? Because while everyone goes into a marriage with romantic notions and the best of intentions, 40% to 50% of marriage in the U.S. end in divorce, and a prenuptial agreement can help you avoid messy tears and ugly financial arguments if your marriage fails to last. A prenuptial agreement may also assist you in avoiding bitter arguments with your family of origin, especially if some of the assets you’ve accrued before marriage have come through gifts, trusts, inheritances, or such from a family member.
- Spend some time, to the extent that you can, inventorying your assets. If you can bring appropriate financial documents to your consultation, even better; if not, a dedicated family law paralegal will help you gather the paperwork necessary to produce an effective prenuptial agreement. Also, be honest with yourself: which assets do you want your prospective prenuptial agreement to cover? Are there any assets you do wish to bring to the marriage? What do you want out of your prenuptial agreement?
- You’re going to want to consult with a family lawyer and disclose your assets to them and their dedicated family law team. A prenuptial agreement can be a sensitive topic and you want someone who not only knows the law but who works well with you emotionally. O’Cathain Law Group Family Law Department has the dedicated New Jersey Prenuptial Agreement Lawyer you’re looking for, and we’ll work with you to craft the prenuptial agreement that’s right for you and your marriage, in a way that showcases compassion, discretion, and our knowledge of both the law and its accompanying financial aspects.
- Discuss with your New Jersey Prenuptial Agreement Lawyer why you want a prenuptial agreement: do you come from a background with wealth, and want to make sure you protect it? Does your soon-to-be-spouse have overwhelming debt, and you want to make sure their debt doesn’t become half yours in divorce? Is your spouse pushing a prenup, and you’re hesitant? Your lawyer may also be able to guide you in how best to broach the sensitive, delicate issue of prenuptial agreements with your partner if you haven’t already done so. Obviously, you want to make sure you are assisting your dedicated family law team in preparing a prenuptial agreement you feel confident your soon-to-be-spouse will sign.
- You will work with your New Jersey Prenuptial Agreement Lawyer to define what specifically will be protected in your prenuptial agreement: is there a certain amount of money you wish to protect, no matter what happens? What about that family heirloom that your deceased grandmother left you in her will, or even the custody/visitation rights to a beloved pet, or your family’s business? Now is the time to protect your assets (the summer home, the vintage vinyl collection) that you don’t want to see become bargaining chips at the negotiation table of divorce— that’s the job of a prenuptial agreement. Otherwise, such assets may wind up subject to Equitable Distribution, as decided by the Court.
- Let’s talk debt: if there’s debt prior to the marriage, a prenuptial agreement can help protect you from it. While the standard is that debt incurred during the marriage is marital debt, to be split fifty-fifty, a prenuptial agreement can be used to protect one person in the marriage from accrued marital debt (if, say, one partner has a history of reckless spending and/or debt). In that way a prenuptial agreement may be said to be worth its weight in gold. Your New Jersey Prenuptial Agreement Lawyer will work with you to handle the debt trap.
Prenuptial agreements, obviously, need to involve both parties heading into the marriage— they both need to agree. But oftentimes a prenuptial agreement can help head off a lengthy divorce process, as the parties have already agreed on the terms. And, prenuptial agreements are not only actually for divorce— they may help with establishing a plan for an estate, or outline and manage expectations regarding financial ownership.
Nobody goes into a marriage thinking it will fail, of course. Our motto is Move Forward and, should, unfortunately, your marriage one day end, you will Move Forward— we’ve seen it before. The best thing you can do for your future yourself is to put in place the protections that safeguard your ability to do so. That’s the reason to get a prenuptial agreement.
Getting married? Thinking about a prenup? Call (201) 488-1161, fill out the intake form, or email a dedicated Family Law paralegal to speak with a New Jersey Prenuptial Agreement Lawyer at O’Cathain Law Group.
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