Many topics to be discussed with a prenup
New Jersey couples can use prenuptial agreements to discuss and agree on a wide variety of topics from estate planning to divorce details.
New Jersey residents who are engaged to be married should be able to enjoy planning their wedding and honeymoon. However, the planning should not be focused just around a party. Marriage is a legal partnership and people can benefit from taking the time to discuss how they want their marriage to work. A prenuptial agreement is an ideal way of doing just this.
Why is a prenup important?
As Forbes explains, everyone who gets married actually has a prenup of some sort. For people who do not create their own custom prenups, New Jersey divorce law will act as their prenuptial agreement if they ever get divorced. If one or both spouses die without a will or trust in place, state probate court will handle the estate. Instead of letting these things happen, couples can take matters into their own hands with a marital contract .
Can a prenup help people getting remarried?
The American Bar Association explains that for people getting married after a previous divorce, a prenup is a great way to outline estate plans. It can allow couples the ability to keep select assets separate and ensure that each person’s biological children receive special family heirlooms after the parent dies.
If one spouse in a new marriage must pay or will receive spousal or child support related to a previous marriage, a prenup can be helpful here as well. Income received from these payments may be able to be clearly allocated as one person’s separate property, especially if for the purposes of children. Ensuring that obligations to a former spouse are met may also be outlined in a prenup.
How can a prenup help couples with daily life?
Managing day-to-day finances as well as planning for retirement, vacation, children’s education and beyond can be a challenge for some couples. When developing a prenuptial agreement, people can discuss how they want to approach these things. The contract can even identify if one person will have the responsibility to pay bills or if some income is to be kept separate for specific reasons.
Will a prenup be able to identify divorce details?
While not every detail of a future divorce may be able to be included in a prenup, couples may be able to indicate whether or not one spouse may be entitled to alimony. The contract can also be a way of allocating support for a spouse who agrees to stay home to raise children.
How can a couple be sure their prenup is valid?
Working with an attorney is always recommended for New Jersey couples who are interested in prenuptial agreements. These contracts are legally binding if they are properly created. Therefore, it is important to ensure that they are drafted in a way so that they will be valid if and when ever needed.