Prenuptial agreements have a bad reputation due to the common myths that surround them. Read on to learn more about the truth behind prenuptial agreements in New Jersey.
What is a Prenuptial Agreement?
A prenuptial agreement is a document that is created and signed before a couple is married. This document declares how the couple’s assets will be split in the event that their marriage comes to an end. If a couple separates or gets divorced, a prenup can help them avoid a lengthy and expensive litigation process.
Common Myths Surrounding Prenuptial Agreements
When it comes to prenuptial agreements, there are a lot of common misconceptions, including the following:
- A prenuptial agreement indicates an unstable marriage
- Because prenups deal with divorce, some people assume that they indicate problems within a relationship. This is definitely not the case. In fact, a prenuptial agreement can make your relationship even stronger. This is because prenups allow both couples to enter their marriage feeling safe and secure. Additionally, prenups allow you to have important financial discussions before the marriage, rather than after the wedding has occurred.
- A prenup is only for wealthy couples
- Some believe that prenuptial agreements are only necessary for couples of a certain net worth. In reality, a prenuptial agreement can benefit anyone who has any assets they wish to protect. In a prenup, you can include:
- Residences and real estate properties
- Business assets
- Investments, stocks, and bonds
- Trusts
- Amount, duration, or waiver of alimony
- Items of sentimental value
- Some believe that prenuptial agreements are only necessary for couples of a certain net worth. In reality, a prenuptial agreement can benefit anyone who has any assets they wish to protect. In a prenup, you can include:
- A prenup won’t be found valid in court
- Some people worry that their prenuptial agreement won’t hold up in court. A prenuptial agreement is an important legal document. As a result, it will have to meet some specific requirements to be considered valid. In order for a prenuptial agreement to be considered valid, the document must:
- Be in writing
- Include a full disclosure at the time of execution
- Be notarized
- Be fair and just for both parties
- Be executed before the marriage
- Some people worry that their prenuptial agreement won’t hold up in court. A prenuptial agreement is an important legal document. As a result, it will have to meet some specific requirements to be considered valid. In order for a prenuptial agreement to be considered valid, the document must:
- If you did not create a prenup, you’re out of luck
- Some couples decide not to create a prenup and later change their minds. Luckily, in cases like this, you can create a postnuptial agreement. This is the same document, with the same purpose, but it is created after the wedding, rather than before.
If you have any questions or concerns regarding prenuptial agreements in New Jersey, our firm is here to help. Reach out today to speak with an experienced and dedicated family law attorney.
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If you need an experienced legal team to guide you through your divorce, contact Townsend, Tomaio & Newmark L.L.C today.
