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A prenuptial agreement is an essential step for any Newark couple getting ready for marriage. While many people think prenups are taboo, they’re actually beneficial to all parties involved. It’s important for both you and your future spouse to hire a separate Newark prenuptial agreement lawyer. This can make sure everyone’s legal rights are being respected during the drafting and signing process.
Here at The Montanari Law Group, LLC, our attorneys have over 20 years of combined legal experience in family law matters. We help New Jersey couples face not only difficult times but exciting new beginnings as well. Having a prenup in place can set up your marriage for success. We offer initial consultations to Newark residents, where they can discuss their needs while drafting their prenuptial agreement.
A prenuptial agreement, often called a prenup, is a drafted legal document created before a couple gets married. The specific laws surrounding prenups are outlined in New Jersey Statute 37:2-32. Many couples find prenups distasteful or unfair to one party. With 27% to 32% of Newark residents being married, having a prenup in place can make sure a marriage or divorce is streamlined.
This document outlines various financial terms during a marriage and in case there’s a divorce. For example, it can decide who owns what property, no matter when or where it was bought. They can also agree on how each person can use, sell, lease, or manage property during the relationship. With Newark’s average household income being $53,818 as of 2023, protecting your finances is crucial.
A prenup can also say what happens to the property if they divorce or one person passes away. It can include whether one person will pay spousal support to the other. The couple can also agree to create a will to make sure the terms of the agreement are followed after death. They can also decide who will receive money from a life insurance policy.
As long as prenuptial agreement laws aren’t broken, a prenup can include any terms a couple wants to include. However, for New Jersey couples with children or who plan to conceive, a prenup can’t take away or reduce a child’s right to child support payments. This right to financial support always comes first and must follow state law.
In New Jersey, a prenuptial agreement doesn’t take effect when it’s signed. It only becomes legally valid and enforceable once the couple actually gets married and applies for their marriage license at the Marriage Bureau Office, located at 920 Broad Street.
If the marriage never happens, the prenup has no legal power. Once signed, prenups are typically kept in a safe place by the individuals or their attorneys.
In New Jersey, if someone wants to challenge a prenup, they must prove to the court that the agreement should not be enforced. The person trying to cancel the agreement has the responsibility to show the court evidence. It’s important to hire a prenuptial agreement lawyer who knows how to gather proof.
Only a judge can decide if an agreement is legally unfair. They will not enforce the prenup if the challenger can clearly prove one of the following:
Having an experienced Newark prenuptial agreement attorney on your side can make sure your wishes are legally respected. The Montanari Law Group, LLC, has extensive experience in drafting legally valid prenups for our clients. Our legal services are custom-tailored to every client’s unique needs.
A: In New Jersey, a married couple can cancel their prenup if they agree to do so in writing. Changes to an existing prenup can also be done if both people voluntarily sign the new agreement. This change is legally valid, even if no money or property is exchanged when making the update. However, working closely with your lawyer during any changes or cancellations is vital to making sure you’re staying compliant with state law.
A: Prenups avoid lengthy court proceedings by setting clear terms for dividing assets ahead of time. This can reduce emotional stress and legal expenses during a divorce. It can also outline each person’s financial rights and obligations during marriage. If your spouse has debt, it can protect you from being liable for that debt. It can be especially beneficial for business owners, outlining who owns what.
A: While New Jersey doesn’t require a lawyer when creating or signing a prenup, it is recommended that each person hire their own attorney. Having separate lawyers can make sure the agreement protects the interests of both parties. It can also prevent future potential claims that one party was pressured or did not fully understand the terms. Lawyers help both sides fully disclose their finances, draft fair terms, and make sure the agreement complies with New Jersey law.
A: If you don’t have a prenup during divorce, New Jersey courts will make the decisions for you. This means marital property will be divided fairly, but not necessarily equally. You could also be responsible for your spouse’s debts. If you own a business, your spouse might be entitled to a portion of it. Not having a prenup takes the control away from you, leaving all decisions up to state law. All this highly impacts your financial future.
Getting ready for marriage can be exciting for couples. However, it’s important to keep the legalities of marriage in mind. A prenup is an easy way to protect yourself during and after marriage. The Montanari Law Group, LLC, offers consultations to Newark residents and those in the surrounding areas, wherein we can explain their legal rights. Contact our team today to schedule your appointment.