When a couple decides to get married, personal property, financial resources, and responsibilities between the two parties become shared assets. Some couples choose to enter into a prenuptial agreement before getting legally married. These agreements are a written, binding contract that clearly specifies each party’s rights after the marriage is finalized.
Wealthy individuals may desire to enter into premarital agreements to protect their wealth. Others may want a prenup because they want to pass on their property to children from previous marriages. Some couples may want to clarify or specify certain responsibilities and financial rights, while others may want to get protection from one another’s financial debts. Many couples just want to avoid potential arguments in the event that they later decide to divorce, so they specify these common issues in advance.
When a couple chooses not to make a premarital agreement, the state will decide which party will own any property acquired during the marriage. Under common marital laws, a spouse usually shares ownership of any property or incurred debt during the marriage. If you are considering creating a premarital agreement with your partner, then you can begin drafting your own terms and have a lawyer review the agreement.
It’s important to have a lawyer advise you on your premarital agreement because it will give the document more validity in the courtroom if it’s ever challenged. Our New Jersey attorneys at Nitti & Nitti have prepared prenuptial agreements for our clients for over 30 years. Our extensive experience in family law issues can be used to your advantage when drafting out your agreement. We know the most common points of contention during divorce proceedings, and we will use our knowledge to advise you on the best possible agreement for both parties. For more information about our law firm, or to get started on your case today, contact us at 973-226-4141.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney/client relationship. If you are seeking legal advice, please contact our law firm directly.