Why you might want to have a prenup

On Behalf of | Aug 27, 2021 | Property Division |

Historically, prenuptial agreements have been seen as something that rich people create before their wedding days. However, there are many good reasons why anyone could benefit from such an arrangement. Generally speaking, New Jersey law recognizes the validity of these documents assuming that they are structured properly.

You can protect intellectual property rights

If you started a business prior to getting married, it may be a good idea to clarify the status of that asset before your union becomes official. In fact, it may be worthwhile to do so even if you’ve merely come up with the blueprint for a company. This is because its name, logo or other attributes associated with the firm could be worth something even if your company isn’t yet operational.

A prenuptial agreement can stipulate if either party is entitled to alimony

State law generally determines if an individual is entitled to alimony in a divorce if the couple hasn’t already decided. However, prenuptial agreements can be used to create custom spousal support guidelines that don’t necessarily align with state law. Furthermore, a couple can stipulate that alimony will not be part of a final settlement. It is important to note that a custom marriage contract cannot be used to settle matters related to child support or custody.

If you are looking to protect your assets from being seized in a divorce settlement, it may be a good idea to create a prenuptial agreement. Typically, such a document will need to be created several weeks before a wedding takes place to be considered valid. Each party should be represented by separate legal counsel as well.

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