Prenuptial agreements, though often looked down upon and considered preparation for the failure of a marriage, are popular ways to ensure protections for both spouses. If you are considering signing a prenup in New Jersey it is important that you understand what makes the document valid and what may render it unenforceable. Reach out to a Sparta prenuptial agreement attorney for skilled representation and legal advice.
What is a Prenup?
A prenup, formally referred to as a prenuptial agreement, is a contract made between the two parties of a couple who plan to get married. The document is legally binding and acts as protection for each individual’s financial future if the marriage ever ends in a divorce or unexpected death. Before officially tying the knot, the couple can sign an agreement that establishes what properties each spouse is entitled to and who is responsible for for handling debts.
The following are some issues that can be addressed in the prenuptial agreement.
- Each spouse’s right to property already owned
- Each spouse’s right to property that will be acquired later
- Each spouse’s right to use, sell, or control property
- The division of assets if the marriage ends in a separation, divorce, or death
- Spousal support
- Rights regarding life insurance policies
- Creation of wills or trusts
What Makes a Prenup Valid in NJ?
Each state has its own rules and regulations regarding the validity of a prenuptial agreement. In New Jersey, the contract and spouses must abide by certain terms and conditions for it to be considered valid and enforceable. Consider the following.
- Both parties must enter into the agreement voluntarily and without coercion or force
- The prenup must be in writing
- Full disclosure is required and the document must include all financial information of both parties
- The contract must be fair and reasonable for both parties, not unconscionable for one
- Both parties must have consulted with separate legal counsel or waived their right to legal counsel before signing
If any of the above is not true, the prenup can be considered invalid and be deemed unenforceable.
Can I Challenge a Prenup in Court?
Yes, it is possible to challenge a prenup in court. If any requirements were not met when signing the contract or if circumstances have changed drastically since then, one or more of the stipulations can be challenged.
During a divorce, New Jersey courts aim to ensure a fair and equitable financial situation for each party. If one spouse was coerced into signing the prenup, the contract leaves them destitute, there was only an oral agreement, or one or both spouses did not disclose all assets honestly and entirely, there is a chance that the document can be considered invalid.
Consult with an experienced attorney to learn more about your legal rights and options during your divorce.
