The Importance of Reviewing Your Prenuptial Agreement Before Getting Married

A prenuptial agreement can document separate property, change ownership of some assets, and define spousal support. However, there are certain things that a prenup cannot address.

Although many couples plan on never divorcing, things can always happen. Couples need to consider all possibilities when creating a prenup.

Review It After Significant Life Events

Many couples are uncomfortable discussing their assets and debts, even when they know a prenuptial agreement is in their best interests. Sometimes, this aversion to talking about money may indicate that a relationship could be more solid.

When it comes to addressing these sensitive issues, timing is essential. It is often best to talk about prenuptial disputes NJ before the engagement or the wedding ceremony, as it gives both parties time to review the document and seek legal counsel (which is typically recommended).

It’s also essential that a couple discusses their financial circumstances in a calm, non-adversarial environment. If a prenuptial agreement is sprung on a future spouse with less than adequate notice before the wedding, it can be challenged in court under traditional contract law principles. The court will examine whether the document was executed free of undue influence and if it accurately reflects the financial situations of both parties. This could render the entire document invalid, mainly if it includes a lot of language about community property and inheritance.

Review It Often

A prenup can be a valuable tool for couples, but it is essential to review it often. As time passes, circumstances change – new children are born, one spouse may acquire more debt, purchase property, etc. If you never tinker with the prenup, it may not fit your current situation or have outdated clauses that could lead to a costly divorce.

While discussing a prenup can be unromantic, it can also help you and your soon-to-be spouse start your marriage on the right foot. It forces you to communicate openly about finances and expectations and helps you set them. While a prenup cannot address child support or custody issues, it can protect your financial interests and assets in the event of a divorce. However, it is not meant to dictate how you and your spouse will raise your children, divide chores, or handle holidays. The document can only deal with financially based matters.

Review It With Your Lawyer

Anyone with significant assets or property should consider a prenuptial agreement (also known as a “prenup”). A prenup is a legal contract catalogs a couple’s personal and financial information, specifies their rights to each other’s assets if the marriage dissolves (or in the case of death), and can impact how their assets are characterized and disposed of under state law.

Some couples avoid discussing a prenup because they feel it’s an omen that their marriage will fail. But a well-drafted prenup can save both parties hours of needless stress in the event of a divorce, death, or disability. Having an attorney review your prenup to ensure it’s valid and enforceable can help you avoid costly mistakes. The document must meet all basic contract requirements under state law to be enforceable. An experienced attorney can help ensure that your prenup meets these criteria. An attorney can also provide insight into the terms used in a prenup, including those related to alimony and child support.

Make Sure It’s In Writing

It may seem like the least romantic aspect of planning a wedding, but creating a prenuptial agreement is one way to protect yourself financially for the duration of your marriage. A prenup is a legal document that lists each person’s assets and debts and defines how they will be distributed during a divorce.

It can also include lifestyle clauses that address how vacations are taken, which surname will be used, and who has rights to a family’s beach house. Couples must discuss any stipulations deemed unreasonable or illegal before hiring an attorney.

Many people shy away from broaching the topic of a prenup because they fear it will strain their relationship or offend their future spouse. However, a well-negotiated prenup can protect both parties and help build trust and open lines of communication from the start.