A divorce can create a lot of contention between people even when the split is wanted and both parties agree on the need to move forward. One area that may create the most tension or possible disagreement may pertain to property division. New Jersey couples may want to consider how a prenuptial agreement may ease the tensions or discontent of the property division process.
A prenuptial agreement is a simple way to ensure that each party's rights are protected. It can be an essential tool to outlining which property is considered separate property and what may entail marital property. How debts are viewed and handled may also be included in a prenuptial agreement. The debts each person brings to the marriage can be specifically mentioned and a plan put in place to allot those debts if a divorce occurs.
A prenuptial agreement can prevent headaches over dealing with the marital home, as there can be specific provisions dealt with ahead of time. If the couple ventures into business together or one brings a business into the marriage, the fate of that business can also be handled with a well-rounded prenuptial agreement. One basic benefit of a prenuptial agreement is that the time spent litigating or disputing property division details can be minimized as a divorce unfolds.
The property division process during a divorce can grow to be complicated and cause litigation to linger. For those involved, the decisions pertaining to property division can alter their lives going forward and may entail highly personal items and assets. The more prepared a New Jersey couple or individual may be before or during a divorce by having a prenuptial agreement in place, the less complicated the property division may be.