Before entering into a marriage, couples have the option to draft and sign a prenuptial agreement. Due to the nature of these agreements, some couples do not want to consider it as an option. They may see it as a negative way to enter into a marriage. However, it is practical. It should be seen as a way to avoid future conflict.
Postnuptial agreements have the same influence as prenuptial agreements. The only difference between these agreements is that one is executed before marriage and one is executed after marriage. Both agreements list the assets that are owned by each spouse. This is to prevent any future discussion that can lead to conflict. If a couple were to separate, divorce or one was to die, their assets are already outlined and claimed.
What does a prenuptial agreement include?
A prenuptial agreement includes a list of all assets that are to be split between spouses. It can address inheritance, appreciation of property, spousal support, real estate and fidelity. However, it does not include mention of child support or child custody. These decisions are not to be made in these documents.
What makes a prenup legally binding?
In order to ensure that a prenuptial agreement is legally binding, it must be in the form of a written document. Both parties had to have been voluntarily agreeing to decide on getting a prenuptial agreement and accepting the details of the document. To make it honest, there needs to be a full financial disclosure presented in this agreement. The agreement must prove to be fair and just for both spouses involved. When it is decided upon, it must be notarized to prove that it is legally binding.
Why might people decide to get a prenuptial agreement?
Couples entering into marriage might consider a prenuptial agreement for various reasons. If they have a prized possession, such as a house that has remained in the family for years, they may want to protect it in the case that something were to happen in the future. If one spouse owns a business or has a high net worth, they may also consider this type of agreement. It can help secure their status as a business owner or high net worth individuals by protecting their assets.
Why would people decide to get a postnuptial agreement?
After couples are married, their assets may have changed. One spouse may have recently acquired a high net worth or a business. This could incline them to consider the binding document. One spouse may have inherited money or other possessions from a family member or loved one. They may wish to protect this asset by getting a prenuptial agreement signed by both parties.
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. If you need quality legal services, contact the firm for a consultation.