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Marriage is a wonderful thing. One of the keys to a great marriage is making sure that you and your partner are entering the marriage on equal footing. A prenuptial agreement, or prenup, is a fantastic way for each of you to protect your individual assets as you join your lives together. At The Montanari Law Group, you can connect with an experienced Montclair prenuptial agreement lawyer. They can design a contract that serves both of you.
A prenuptial agreement is a contract that outlines how you and your partner’s assets will be divided if you divorce. A prenup lists all your financial assets and clearly states who gets what property and money if you dissolve your marriage. The function of the agreement is to make the division of assets smooth and easy if you split up, which can save you from the emotional and financial burdens associated with a contentious divorce.
Most people do not enter a marriage with the intent to divorce, but life happens. Sometimes, people find themselves in that situation, whether they like it or not. While the often-used statement that 50% of marriages end in divorce, marriage dissolution is not uncommon. For example, the yearly divorce rate in New Jersey is about 2.2 per 1,000 people.
Considering a prenuptial agreement may feel like approaching your marriage with low confidence, but it is anything but. Having a prenuptial agreement is not the same as “planning for divorce.” It is simply a step you and your partner can take to protect both of you if the worst should happen. Prenuptial agreements are very common. In fact, around 40 million Americans have some kind of prenuptial contract in place.
Prenuptial contracts can protect a wide variety of assets. Generally, anything that you own as an individual (separate property) and together (marital property) can be included in the agreement. The following are some examples of assets that can be included in your prenup:
In divorces, New Jersey uses the principle of “equitable distribution” to divide assets. Under this system, divorce courts divide things however they think is fair based on the couple’s situation. Often, this concept leads to intense court battles when couples do not agree on what “fair” means. With a prenuptial agreement, you can agree on these issues before you begin the marriage, which can protect your current and future property.
Marriage and family law can be complicated. To adequately protect your assets as you enter a marriage, you need to consult an experienced family lawyer in Montclair. It would be very unfortunate to believe that your assets were covered, only to find out that your agreement would not hold up in court.
In New Jersey, prenuptial agreement laws establish the following basic conditions, which must be met for a prenuptial agreement to be considered valid:
It is not unheard of for a prenuptial agreement (especially one entered into without consulting a professional) to be ruled invalid during divorce proceedings. For example, in New Jersey, if the prenup is signed too soon before the wedding, it may be more difficult to enforce its terms because one party could claim that they did not have enough time to consider the contract. You can avoid such a situation by having an airtight contract, ideally crafted by a Montclair prenuptial agreement attorney.
The cost of a prenuptial attorney in New Jersey varies, depending on your needs and the individual attorney’s rates. When considering a prenuptial agreement attorney, it is important to consider not only the cost but also the value. While a more seasoned lawyer may be more expensive than someone just out of law school, the higher rate means they come with more knowledge and experience to serve you.
The cost of a prenuptial contract in New Jersey will vary. What you might pay will depend on the details of your situation and your attorney’s fees. While you may be hesitant to pay for a contract, a prenuptial agreement can save you months of expensive legal and court fees in the event of a dissolution.
Cheating does not automatically void a prenuptial agreement. However, many prenups include a section called an “infidelity clause,” which specifies certain consequences if the marriage is dissolved because a partner cheated. These clauses may or may not be enforced in court, depending on the circumstances of the divorce and whether there is proof of cheating.
For prenup cases, you’ll want to hire a prenuptial agreement lawyer who is experienced in family law. Your attorney should understand the details of the laws governing marriage, divorce, and asset protection. You should also check to make sure your lawyer has experience in drafting prenuptial contracts. Such an attorney, like one at The Montanari Law Group, can tailor yours to fit your unique situation.
Putting a well-crafted prenuptial agreement in place is one way to protect yourself and your partner as you prepare for marriage. At The Montanari Law Group, we are committed to serving individuals and families in Montclair and the surrounding area with integrity, respect, and due care. Contact us for a consultation, and enter your marriage with confidence about the future.