Moorestown Divorce Lawyers
Prenuptial Agreements And Premarital Agreements In New Jersey
Entering into a marriage or civil union is a life-altering decision for all parties. For the protection of both spouses, many couples find financial security provided by a prenuptial agreement or premarital agreement comforting. Prenuptial or premarital agreements set forth the financial rights and obligations of both parties entering into a marriage or civil union. In New Jersey, the Uniform Premarital and Pre Civil Union Agreement Act (UPPA) governs the drafting and enforcement of prenuptial and premarital agreements.
Drafting Prenuptial Agreements
Prenuptial agreements are not only used by celebrities or the very wealthy. Many couples of varying degrees of financial wealth find themselves in need of a prenuptial agreement. Some common situations that may warrant the use of a prenuptial agreement include:
- Second marriages;
- When one party has substantially more assets than the other;
- When there are children from previous marriages or relationships;
- When one or both parties have ownership interests in a business or partnership;
- When there is significant premarital debt or financial obligations; and
- When one spouse will be giving up a potentially lucrative career to stay home and raise the family.
Prenuptial agreements should address the rights of both parties with respect to the buying, selling, leasing, mortgaging, managing and controlling of all property. Property owned by each party before the union as well as property acquired after the union should be included in the agreement. Property includes all financial assets (cash, bank accounts, investment portfolios, retirement savings), homes, vehicles, boats, jewelry, personal property and ownership rights in life insurance policies. Determination of what happens to property upon a separation or divorce is an important part of any prenuptial agreement. Other provisions commonly found in prenuptial agreements include choice of law provisions, a list of required actions that must be taken to make the prenuptial enforceable (such as drafting wills or trusts) and a complete and accurate statement of assets.
Enforcement of Prenuptial Agreements
Recent changes in New Jersey family law require an experienced attorney familiar with both the changing law in determining the enforceability of prenuptial agreements. Under the UPPA, prenuptial agreements must be in writing and become effective upon the date of marriage. To ensure that your prenuptial agreement will be valid and enforceable, you need the services of the experienced New Jersey family law attorney. New Jersey divorce lawyers at the Hartman Group have drafted countless prenuptial and premarital agreements in New Jersey and can assist you in all your premarital drafting needs.
Challenges to Prenuptial Agreements
Under certain circumstances, individuals may challenge the validity of a prenuptial agreement. If a prenuptial agreement contains certain improperly drafted provisions, the prenuptial agreement may not be valid. Improper provisions include determination of child support and custody issues and unconsciousable clauses which would result in financial hardship to one of the parties. Another basis for challenging the validity of a prenuptial agreement occurs if one of the parties is coerced into signing the agreement by force or other type of duress. Failure of one of the parties to fully disclose all of their assets or debts also may form a basis for challenging the validity of a prenuptial agreement.
New Jersey Divorce Lawyers of the Hartman Group in Moorestown, NJ, Represents Individuals in Drafting, Enforcing and Challenging Prenuptial Agreements
Enter your New Jersey marriage or civil union with financial peace of mind by having a legally enforceable prenuptial agreement in place. Moorestown divorce lawyers at the Hartman Group works with couples to draft enforceable prenuptial agreements with professionalism and confidentiality. The law offices of the Hartman Group are conveniently located in Moorestown, New Jersey to serve individuals and couples throughout New Jersey including those in Burlington County, Camden County, Gloucester County, Cumberland County, Cape May County, Salem County and Atlantic County, including the Cherry Hill and Haddonfield regions. Call our offices today at 856-235-4511 to schedule your confidential consultation with a reputable NJ divorce lawyer or contact us online.