For many years, prenuptial agreements were thought to be necessary for individuals who were getting married for a second time or bringing significant assets into a marriage — or both. That thinking has changed in New Jersey and throughout the nation.
Couples are finding great value in defining each party's rights and obligations regarding financial issues such as property division or spousal support in the event of divorce at a time when they are civil with each other and separation is the last thing on their minds.
In addition, marriage contracts are more common in first marriages and are a good idea for couples regardless of their net worth. Issues that may be addressed include:
- Whether certain assets will be considered marital or separate property
- The right of one party to buy out the other party's stake in the marital home
- Responsibility for debts brought into the marriage by each individual
- Provisions regarding family businesses and financial obligations
Premarital agreements cannot legally address any matters regarding child custody, child support or parenting time.
Think Of It As An Insurance Policy On Your Marriage
At the law firm of Schepisi & McLaughlin, P.A., in Englewood Cliffs, New Jersey, we view prenuptial agreements as an important "insurance policy" for a marriage. For example, if one party has agreed to suspend a professional career in order to care for children, it may make sense for that couple to reach terms on compensation for that decision in the event of divorce.
Financially speaking, drafting a well-written prenuptial agreement before going into a marriage is significantly less expensive than drawn-out litigation should the two parties eventually get divorced. It's also a lot less stressful.
If you are getting divorced and you had signed a marriage agreement, it may be possible to challenge part or all of an agreement. Our experienced family law attorneys can review your situation and provide a straightforward assessment.
Call 201-500-8914 or use our online contact form to schedule a free, no-obligation consultation. Our lawyers work with clients throughout Bergen County and all of northern New Jersey.