A New Jersey prenuptial agreement is a legal document securing premarital assets and ensure they get excluded from equitable distribution in case of a divorce.
A New Jersey prenuptial agreement, also known as a premarital or ante-nuptial agreement, can be a crucial planning method if you are engaged or to be married in New Jersey. In addition, a prenuptial agreement is a good approach to safeguard your varied assets and financial interests.
However, a prenup can include several other factors to clarify each party's rights and obligations in the event of divorce and even keep your divorce private. And since a prenuptial agreement is a legal contract, getting advice from a family law professional might be beneficial.
What Are Some Advantages of a New Jersey Prenuptial Agreement?
In the event of a divorce or legal separation in New Jersey, many couples who execute a prenuptial agreement usually face fewer legal complications. Furthermore, an attorney drafting a prenuptial agreement can assist divorced spouses in avoiding drawn-out court battles by predetermining the handling of their assets before marriage.
A New Jersey prenuptial agreement might also decide how financial matters will get resolved in the long run, in addition to safeguarding premarital assets. And prenuptial agreements are not just advantageous for divorcing spouses. A New Jersey prenuptial agreement can safeguard family assets at risk during a divorce. For instance, a family with shared business interests could feel more at ease with a prenuptial agreement.
What Aspects Are Restricted in Prenuptial Agreements in New Jersey ?
In premarital agreements, child-related matters, including child support obligations and custody arrangements, may not be predetermined by prospective spouses. The best interests approach often used by courts to determine these disputes.
Additionally, child-related clauses in a prenuptial agreement would be against government policy because they deal with the child rather than the spouse. In 1988, The Uniform Premarital Agreement Act was adopted in New Jersey (UPAA). According to the UPAA, all premarital agreements must be in writing, signed by both couples, and include a listing of assets.
The statement of assets is intended to ensure that the financial details of the spouses are disclosed fairly and reasonably. Although it is not necessary, it is suggested that both partners get legal counsel before signing a premarital agreement. The premarital agreement must specify that the non-represented spouse freely, willingly, and voluntarily renounced the right to be represented by counsel in cases when one spouse does not retain counsel.
Suppose the other party can prove that the challenging spouse would lack proper support, would need to rely on public assistance, or would get a standard of living lower than what they had before the marriage. In that case, the court will deem the premarital agreement unreasonable. Although you cannot create a prenuptial agreement if you are already married, you can still sign a postnuptial agreement. Despite being created after marriage, this instrument performs the same function as prenuptial agreements.
Conclusion
Many couples today recognize prenuptial agreements are practical instruments that can help them save time and money in the long run. A prenuptial agreement can assist you in preparing for the future and provide you and your spouse peace of mind if you are ready to get married. And it should go without saying that a document will not have legal standing if the law does not recognize it.
Hence you must choose our knowledgeable New Jersey family law attorney at Contracts Counsel to create the agreement to be executed properly and remain legally enforceable. Moreover, hiring our expert attorneys is also beneficial in ensuring that the agreement truly reflects your objectives and is structured in the way you want.
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Meet some of our New Jersey Prenuptial Agreement Lawyers
Angela Y.
NJ and NY corporate contract lawyer and founder of a firm specializing in helping entrepreneurs. With a background in law firms, technology, and world class corporate departments, I've handled contracts and negotiations for everything from commercial leases and one-off sales agreements, to multi-million dollar asset sales. I love taking a customer-focused and business-minded approach to helping my clients achieve their goals. Other information: learning to surf, lover of travel, and one-time marathoner (NYC 2018) yulawlegal.com
Michael J.
Combining extensive experience in litigation and as general counsel for a real estate and private equity company, I provide ongoing guidance and support to clients on a variety of transactional matters, including business formation, partnership agreements, corporate agreements, commercial and residential leasing, and employment issues.
Anand A.
Anand is an entrepreneur and attorney with a wide-ranging background. In his legal capacity, Anand has represented parties in (i) commercial finance, (ii) corporate, and (iii) real estate matters throughout the country, including New Jersey, Pennsylvania, Delaware, Arizona, and Georgia. He is well-versed in business formation and management, reviewing and negotiating contracts, advising clients on financing strategy, and various other arenas in which individuals and businesses commonly find themselves. As an entrepreneur, Anand is involved in the hospitality industry and commercial real estate. His approach to the legal practice is to treat clients fairly and provide the highest quality representation possible. Anand received his law degree from Rutgers University School of Law in 2013 and his Bachelor of Business Administration from Pace University, Lubin School of Business in 2007.
October 12, 2021
Grant P.
Founder and owner of Grant Phillips Law.. Practicing and licensed in NY, NJ & Fl with focus on small businesses across the country that are stuck in predatory commercial loans. The firm specializes in representing business owners with Merchant Cash Advances or Factoring Arrangments they can no longer afford. The firms clients include restaurants, truckers, contractors, for profit schools, doctors and corner supermarkets to name a few. GRANT PHILLIPS LAW, PLLC. is at the cutting edge of bringing affordable and expert legal representation on behalf of Merchants stuck with predatory loans or other financial instruments that drain the companies revenues. Grant Phillips Law will defend small businesses with Merchant Cash Advances they can no longer afford. Whether you have been sued, a UCC lien filed against your receivables or your bank account is levied or frozen, we have your back. See more at www.grantphillipslaw.com
October 31, 2021
Melanie C.
Melanie Cunningham specializes in helping entrepreneurs remain creative and expansive by establishing the foundation of their business and protecting and maximizing their intellectual property. It’s her belief that entrepreneurs and micro and small business owners play a critical role in our communities, which propelled Melanie to return to private practice after more than a decade working for global financial institutions. Melanie’s practice is dedicated to delivering excellent legal support and protection to this vital, but an often underserved, community. Melanie credits her business training and the skills developed as a senior compliance officer with enabling her to help small business owners have a legally compliant business, while proactively advising clients during the growth process. She’s helped diverse entrepreneurs do business in a way that focuses more on collaboration than competition. Melanie has counseled small business owners in determining what is protection worthy (helping them obtain trademarks and copyrights) and making contact on their behalf in the case of infringement.
April 20, 2022
John M.
Seasoned professional with experience in wide variety of contract negotiation and review.
May 6, 2022
Brittany S.
I am licensed in New York and New Jersey. I graduated with my J.D. from Touro University Law Center, Summa Cum Laude, in 2021. In 2018, I graduated from SUNY Farmingdale with a B.S. in Sport Management and a minor in Business Management. I have experience in real estate law and insurance defense, including employment law. Please note, I do not carry malpractice insurance.
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Prenuptial Agreement
New York
Prenup
Hey i'm getting married next month in NY How much will it cost?
Jane C.
I suggest you submit a proposal for lawyers to bid on.
Family
Prenuptial Agreement
Massachusetts
How does a prenuptial agreement affect taxes?
As a couple planning to get married, my partner and I are concerned about the tax implications of a prenuptial agreement. We are wondering if entering into a prenuptial agreement will have any impact on our tax obligations or if there are any specific tax considerations that we should be aware of. We are seeking advice from a lawyer who can provide us with guidance on this matter.
Briana C.
A prenuptial agreement does not in itself affect how taxing authorities will treat the spouses. But it can create promises between the spouses toward one another. For example, it may create a promise to file jointly, or specify that they are making no such promise. And it can create a promise by each spouse to pay the other back for any taxes the other pays on his or spouse's behalf. The decision whether to file jointly or separately does have tax implications with taxing authorities.
Family
Prenuptial Agreement
California
Are prenuptial agreements public record?
My partner and I are considering signing a prenuptial agreement before getting married. I want to keep it confidential and I'm not sure if we have to file this with the state or when we get married and would be publicly available?
Michael M.
Prenuptial Agreements are private agreements between the parties. They are typically not public, however, if the matter goes to court, they can be made part of the public record.
Family
Prenuptial Agreement
Texas
Can a prenuptial agreement be challenged in court?
I am recently engaged and am considering entering into a prenuptial agreement with my fiancé. We have differing financial backgrounds and I am concerned that the agreement may not be fair to either of us. I want to understand if a prenuptial agreement can be challenged in court and the conditions under which this could happen.
Nicole P.
Texas calls prenuptial agreements "Premarital Agreements". These agreements, just like any other contract, can be challenged in court. A challenge to the agreement does not mean it will be found invalid, however. Surviving a challenge to the premarital agreement is primarily accomplished all the way back to when the agreement is drafted and executed. There are requirements or prohibitions for the agreement terms to be valid, which are too numerous to list here, but can be found in the Texas Family Code, chapter 4. In Texas, no consideration is required, but the Agreement must be in writing, and signed by both parties. It must be free from fraud and duress, and entered into voluntarily. It cannot be unconscionable, and the parties must provide a fair and reasonable disclosure of the property and financial obligations (unless waived). Enforcement of a premarital agreement falls under the Texas Family Code 4.006. Additionally, any provision that would adversely affect the support of children is going to be prohibited. Conservatorship and possession/access (custody and visitation) will always be determined by the Court under the best interest of the children standard, regardless of what may have been put into the agreement. The best way to survive a challenge is to hire a competent attorney to draft the agreement, ensure the agreement complies with the Texas Family Code, provide a fair and reasonable disclosure from both parties, both parties being represented by their own attorney when entering into the agreement, and ensuring the agreement is available for review far in advance of the wedding date.
Estate Planning
Prenuptial Agreement
Massachusetts
How does a prenuptial agreement affect estate planning?
I am getting married soon and I am interested in understanding how a prenuptial agreement would affect my estate planning. I would like to know what steps I should take to ensure that my assets are protected and that my wishes are carried out after I pass away. I am also curious as to how a prenuptial agreement might affect the distribution of my assets to my family members and other beneficiaries.
Briana C.
A prenuptial agreement does not create an estate plan. But it can do two things. First, a prenuptial agreement can create a contractual promise on the part of one or both spouses to do something in particular with their estate plan (such as promising to leave the marital home to the surviving spouse, or promising to leave everything they have to the surviving spouse, or promising to set up a trust, etc. etc.). If this contractual promise is broken, the surviving spouse has a contract claim against the estate of the dead spouse. Second, and almost the opposite, in a prenuptial agreement one or both spouses can waive the rights they would otherwise have by statute, thus freeing up the other spouse to do whatever he or she wants with her estate plan. Without a prenuptial agreement, a surviving spouse is entitled by statute to inherit a certain proportion of the estate of the dead spouse (the exact proportion depends on whether or not the dead spouse has a will, and/or has surviving children). The prenuptial agreement can override these statutory rights and provide that the surviving spouse is not entitled to inherit anything from the dead spouse, except for anything the dead spouse may choose to leave the surviving spouse in his or her will.
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