There is a lot of misinformation surrounding prenuptial agreements. Read on to learn more about some of the most common myths about prenuptial agreements.
Myths Surrounding Prenuptial Agreements:
It’s easy to keep property separate, so I don’t need a prenup.
In New Jersey, couples own marital property and separate property. Marital property is property that has been acquired over the course of the marriage. Separate property is property that was obtained before the marriage or purposely kept separate. When it comes to divorce, marital property is subject to equitable division, whereas separate property will generally remain untouched. Many people believe it is easy to keep certain property separate, but this is not the case. For example, if you buy a home before you are married, but your spouse moves in, contributes to upkeep, and helps with mortgage payments, the home goes from separate property to marital property. A prenuptial agreement can help ensure that your separate property stays separate.
Prenups are only for the wealthy.
Often, people assume that only those of a high net worth need a prenup. This is certainly not true. Anyone who has any important assets can benefit from a prenuptial agreement. Some assets to include in a prenup may even include items of sentimental value, like family heirlooms.
Prenups indicate a lack of trust.
Many couples avoid creating prenuptial agreements because they feel as though a prenup indicates a lack of trust or an unstable marriage. In reality, a prenuptial agreement can make a relationship more stable than ever. This is because a prenup allows both parties to feel safe and protected when entering their union. It is important to understand that in order for a prenup to be considered valid, it must be fair and just to both parties. This means that both parties can benefit. Additionally, it allows couples to get some uncomfortable financial conversations out of the way and ensure that they are on the same page.
If you have any questions about prenuptial agreements in New Jersey, reach out to our firm today. We are here to walk you through the process every step of the way.
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We understand that those getting a divorce most likely have several questions regarding the weeks and months to come. Paris P. Eliades Law Firm, LLC is honored to serve the people of New Jersey, including Sparta, Sussex County, Morris County, Passaic County, and Bergen County with the quality legal services they deserve. If you are getting a divorce or have any other questions regarding divorce-related matters, please do not hesitate to contact our firm for a consultation today.
