Preparing to walk down the aisle and start a life together is an exciting step for New Jersey couples. This is a time for looking forward to marriage and other exciting things in the future, but it is also prudent to be careful and cautious before you make a major commitment. One way you can do this is by drafting a prenuptial agreement.
It may not seem necessary to take this step, especially if you are not wealthy or you don’t have many valuable assets. You may also assume that a prenup is not necessary because you don’t believe you’ll divorce in the future. Drafting this marital contract is not assuming your marriage will end in the future, but it simply means you are planning for contingencies and protecting your interests.
What’s in a prenup?
Each situation is different, and you can craft a prenup uniquely tailored to your needs and goals. You can make sure your agreement suits your concerns and helps you accomplish your objectives for the future. One important consideration when thinking about the terms you want to include is thinking long-term. What makes sense now may not make a lot of sense years into the future. You have to consider potential changes in income and other factors that could affect your financial health.
Another important aspect of drafting a strong prenuptial agreement is making sure the terms you use are fair. This means both parties will have to fully disclose their assets before signing a prenup. Hiding wealth or doing things that could be unfair or unreasonable could result in a judge ruling some parts or all of a prenup invalid.
Why do you need one?
Most people assume they don’t really need a prenuptial agreement. This is a common misconception as most people don’t realize they could benefit from this type of protection, no matter what their income is. This agreement can allow them to protect assets they are bringing into a marriage, including small business assets. Through your prenup, you and your spouse can agree to terms regarding property division and alimony, reducing the chance of litigation in case of a divorce.
The right help
Having experienced counsel is important when drafting a prenup. If you are considering this type of marital contract, you will benefit from working with an experienced family law attorney. This can ensure that your final agreement is fair and sustainable, giving you peace of mind regarding your family future.