Prenuptial & Postnuptial Agreements
In New Jersey, premarital agreements are often referred to as prenuptial agreements. As the name implies, postnuptial agreements are drafted after the finalization of marriage or civil union. Although these tools are often thought of as instruments for the rich and famous, their practicality extends beyond high asset divorces.
The statistics regarding civil union dissolution and divorce are unfortunately high. While a difficult topic to discuss before or during a marriage or civil union, a well prepared and thought out prenuptial or postnuptial agreement can ultimately reduce the strains associated with dissolving a relationship.
A keen sense of the issues and the ability to memorialize the interests of the parties is important to preventing unnecessary disputes. Ultimately, it will reduce the stress and expenses associated with dissolution or divorce.
Drafting and Reviewing Agreements
Whether you have been asked to sign a prenuptial or postnuptial agreement or wish to initiate one, it is important to secure competent legal advice. The basis of these tools is generally to protect financial interests and come to a mutual agreement that appears fair and equitable. Here are examples of some items contained in prenuptial or postnuptial agreements:
- Rights and obligations of both parties to joint and separate property
- Allocation of property if the parties separate, divorce, or die
- Rights and obligations of managing and controlling property
- Arrangements regarding business ownership
- Spousal support issues
- Life insurance policies
- Matters personal to the parties