When couples get married later in life, they often wonder whether they should create a prenuptial agreement. Read on to learn more about prenups for elderly couples.
What is a Prenuptial Agreement?
A prenuptial agreement is a legal document that declares how a couple’s assets will be split in the event that their marriage comes to an end. Prenups have a negative reputation because they deal with the end of a marriage, but the reality is, prenups in no way indicate an impending divorce. Instead, they allow both parties to enter their new union feeling safe and secure.
Should Elderly Couples Create Prenups?
For the most part, it is a good idea for elderly couples to create prenuptial agreements. At this stage in your life, you have acquired years of savings, retirement funds, and more. It is important to protect yourself and your hard-earned assets.
What can I Address in a Prenuptial Agreement?
Some things you may want to address in your prenuptial agreement may include:
- Residences and real estate properties
- Business assets
- Investments, stocks, and bonds
- Trusts
- Amount, duration, or waiver of alimony
What Makes a Prenup Valid?
A prenuptial agreement is an important legal document. As a result, it must meet certain guidelines in order to be considered valid. In New Jersey, a prenup will only be considered valid if it meets the following requirements:
- The document must be in writing
- Prenups must include a full disclosure at the time of execution
- All prenups must be notarized
- The document must be fair and just for both parties
- The agreement must be executed before the marriage
I did not Create a Prenuptial Agreement and I Changed my Mind
If you didn’t create a prenup before your marriage, you still have options. A prenuptial agreement can only be created before a marriage. That being said, you can create a postnuptial agreement. This is the same document, with the same purpose, only it is created after the wedding, rather than before.
If you have any questions or concerns about prenuptial agreements in New Jersey, our firm is here to help. Reach out today to speak with a skilled and knowledgeable 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.
