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Some facts about prenuptial agreements

| Jan 28, 2016 | Divorce |

New Jersey residents who are planning to marry soon might be curious about the possibility of a prenuptial agreement but might not know where to start looking for information. This is the result of the stigma and misconceptions that often still accompany them, including that they are only for wealthy people and are not romantic. However, many experts believe that talking about such an agreement openly, even if the couple decides in the end not to enter into one, might actually be good for the relationship.

A prenup is in large part a financial agreement between two parties that stipulates how the couple wants to deal with the property division aspects if their eventual marriage should come to an end. These documents can be very simple, stating that what belonged to each party before the marriage will continue to belong to each party after a divorce. They can also be very complex, including information about future earnings.

There are things prenups cannot include, such as the custody of future children. Legislation related to prenuptial agreements varies from state to state, and the documents do not always hold up in court, so it is important to follow a few simple steps. It is advisable to start talking about one well before the proposed wedding date in order to avoid a claim that it was signed under duress.

If a couple decides to get a prenup, they should first discuss their financial situation and goals together. If they decide to continue with the process, they need to each have separate legal representation to prevent any conflict of interests. Both parties must then be open and make a full disclosure of their financial status, give themselves time to review all the information and negotiate and then also have enough time to discuss their decisions with their individual attorneys.

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