As a law firm whose practice is devoted exclusively to New Jersey Divorce and Family Law, it is not unusual for us to get a call from someone who is planning to get married and either wants to have a prenuptial agreement or has been asked to sign one.
The purpose of a prenuptial agreement (also known as premarital agreement) is to try to resolve– before the marriage–issues that may arise if the parties get divorced.
Not everyone needs a prenuptial agreement. They are most useful where one spouse has a lot of assets that he/she want to protect. It is frequently used when one of the parties has an ownership interest in a business. The other party, however, may not want to sign a prenuptial agreement in which he/she waives the right to share any increase in the value of the business during the marriage.
The proper drafting of a prenuptial agreement requires that each party be made fully aware of all of the many issues that such agreements may cover. New Jersey prenuptial agreements are permitted to address not only the parties’ property rights; it can also encompass such issues as alimony, the making of a will, trust, or other arrangement to carry out the provisions of the agreement, the ownership rights in and disposition of the death benefit from a life insurance policy. However, New Jersey prenuptial agreements are not permitted to address child custody or child support, because parents cannot impair their children’s rights.
If you would like to set up a personal and confidential appointment regarding a New Jersey prenuptial agreement, just call us at (973) 455-1220 or fill out the Contact Form on our Website.