If you are getting divorced, your prenuptial agreement can save you a lot of time, stress, and money. However, that is only if your prenup is valid and holds up in court. Read on to learn more about creating a valid prenuptial agreement in New Jersey.
What is a prenuptial agreement?
A prenuptial agreement is a legal agreement that declares how a couple’s assets should be divided in the event of divorce or separation.
Some of the things you can include in a prenuptial agreement include:
- Residences and real estate properties
- Business assets
- Investments, stocks, and bonds
- Amount, duration, or waiver of alimony
It is important to know that there are some things you cannot include in a prenup. For example, you cannot include child custody arrangements in your prenuptial agreement.
What makes a prenuptial agreement valid?
A prenup is an important legal document that deals with sensitive issues. As a result, it must meet strict guidelines in order to be considered valid. In New Jersey, these guidelines include:
- The document must be in writing
- Both parties must provide full disclosure at the time of execution
- The document must be notarized
- The document must be fair and just for both parties
- The agreement must be executed before the marriage
Common reasons a prenup may be found invalid:
Your prenuptial agreement may be found invalid if there is evidence that:
- Full financial disclosure was not provided by both parties
- The agreement was signed under coercion or duress
- The agreement was not reviewed and approved by the courts as enforceable at the time it was created
What if my prenup is found invalid?
Prenuptial agreements often allow couples to avoid valuations and the division of assets. However, if your prenuptial agreement is found invalid, it will be thrown out. This means that you will not be able to use it to settle the matters of your divorce. This can be incredibly stressful, as certain assets you thought were secure may suddenly be up for grabs. It is important to prevent this. In order to help make sure your prenuptial agreement is valid and will hold up in court, it is important to work with an experienced divorce attorney. A skilled attorney can help you create a thorough and valid prenuptial agreement that can save you a lot of trouble down the line.
If you have any questions or concerns about prenuptial agreements in New Jersey, contact our firm today.
Contact our Firm
If you need assistance with any family law issue, contact Greenberg & Walden, LLC today.