Getting engaged to a person you love is a very exciting step in one’s life. Of course, all of the excitement can overpower some of the less interesting things to think about during this time, such as how each future spouse will protect themselves before the marriage. People seem to be getting married later and later in life, and as they grow more successful and prioritize careers, they have more separate assets that need protecting. If you are headed towards marriage, a prenuptial agreement is important to take into consideration.
Let’s preface this by saying: no, having a prenuptial agreement in place does not automatically mean that your marriage will fail.
However, if the marriage doesn’t succeed, you definitely will wish that you had a prenuptial agreement in place for the added level of security during this challenging time. All of the separate property that is included in the prenuptial agreement will remain yours in the event of a divorce. No one can predict the future, but you can protect yourself from it. Plus, if a divorce does happen, a lot of the important financial matters will already be taken care of, which actually allows the process to move more quickly.
If you do choose to execute a prenuptial agreement, it must meet the following criteria in order to be considered valid in the state of New Jersey:
- It must be in writing
- It must include a full financial disclosure
- It must be fair and just
- It must be executed before the marriage occurs
- It cannot be unconscionable
- It must be executed voluntarily by all parties
Please note that it is beneficial for you to retain your own attorney who can effectively represent your rights separately from your future spouse. Additionally, prenuptial agreements are only permitted to include language regarding financial matters, not any matters about current or future children.
If you are considering a prenuptial agreement, please contact our firm today.
If you require strong legal representation for matters related to divorce or family law, Haber Silver Simpson & Russoniello is here to help. We proudly represent clients in Morris County and throughout the state of New Jersey. Contact our firm today to schedule a consultation.