The thought of a divorce does not even cross most couple’s minds, especially when they are about to get married. Unfortunately, life takes its turns, and very often, things do not go as expected. If you get a divorce at some point down the road and your assets are unprotected, you may very well lose out. Fortunately, this is not your only option–prenuptial agreements are designed to protect you in the event of a divorce. Here are some of the questions you may have if a prenuptial agreement sounds like something worth looking into:
How can a prenuptial agreement protect me?
If you get a divorce without a prenuptial agreement in place, you open yourself up to a vast amount of potential legal turmoil. Many couples who do not draft a prenuptial agreement find themselves amid the litigation process. The litigation process is generally emotionally and financially draining and may take several months, or even years. By drafting a prenuptial agreement, you can save yourself from all of the financial and emotional headaches that may come your way during the litigation process. Do not get swept up into messy litigations when you can plan for the worst now. It may be an awkward conversation to have with your spouse-to-be, but it may also save you both down the road. Furthermore, once you have established a prenuptial agreement, you will have peace of mind to resume your lives carefree, together. Here are some of the specific issues your prenuptial agreement can address:
- Both spouses’ rights to buy, sell, use, transfer and manage specific assets or properties
- Both spouses’ rights to join and separate property during, or after, their marriage
- The handling and ownership of life insurance policies
- How spousal support will be handled in a separation or divorce
- Potential child custody or visitation issues
- How property will be divided in the event of a separation or divorce
- Any other issue concerning personal rights and obligations the couple may wish to address, given they are in accordance with public policy
How do I know if I have a valid prenuptial agreement?
All prenuptial agreements should:
- Be in writing
- Include a full disclosure at the time of execution
- Be notarized
- Be executed before marriage
- Be fair and just for both parties
Fortunately, if you are already married, though you may not draft a prenuptial agreement, you can still draft a postnuptial agreement. A postnuptial agreement serves the same purpose as a prenuptial agreement, only it is drafted after your marriage is already official.
Contact our experienced New Jersey firm
If you or someone you know is going through the divorce process or wishes to draft a prenuptial agreement, contact the legal team at McNerny & McAuliffe today.