One of the most exciting points in anyone’s life is the day they get married to their significant other. Fortunately, most marriages result in a happy and prosperous life. However, sometimes, marriages are ended prematurely with a divorce. When a couple gets divorced, they usually require a certain period of emotional processing and healing. However, the emotional aspect of divorce can be very much augmented by the financial aspect of divorce, especially if a couple did not draft a prenuptial agreement before they were officially married.
Prenuptial agreements are an excellent way for both you and your fiance to protect your assets. If you are ready to get married and seek to protect your assets in the event of a divorce, please read on to learn more about what a prenuptial agreement can do for you.
What does a prenuptial agreement do?
Prenuptial agreements can help determine, in writing, what will happen to your assets, should you get a divorce. While they can be extremely beneficial for all those who draft them, they also have an unfortunate stigma attached. This is why if you believe a prenuptial agreement may be beneficial to your marriage, you must clearly communicate your reasoning for drafting one to your fiance. As long as you are both on the same page, you may draft a prenuptial agreement that will address the following:
- Life insurance policies
- How spousal support, or alimony, will be determined in the event of a divorce
- How child custody agreements will be arranged, should you get divorced
- The rights of both spouses to join and separate property
- How property will be divided should you divorce,
- separate, or should one of you pass away
- Both spouse’s rights to sell, buy, use or manage marital assets
What makes a valid prenuptial agreement?
The essential qualifications for a valid and legally enforceable prenuptial agreement are as follows:
- It must be in writing
- It must be notarized
- It must be fair and just for both you and your spouse
- It must include full disclosure of your assets at the time of execution
- It must be executed before you and your spouse are married
If a prenuptial agreement sounds like something that you and your spouse will be interested in drafting, reach out to our firm today.
Contact our experienced New Jersey firm
The Law Office of Toby Grabelle, LLC is a family and divorce law firm serving Monmouth County and all of New Jersey that would be happy to assist you in legal counsel. We understand how serious and potentially impactful divorce and family issues can be, which is why we dedicate ourselves to providing our clients with compassionate and knowledgeable legal advice and action. If you need quality legal services, please do not hesitate to contact the firm for a consultation.