Though most couples do not get married expecting to get a divorce, that is the case for several parties. Therefore, having a prenuptial agreement in place can be quite beneficial.
A proper prenuptial agreement can aid in making the divorce process smoother. To ensure this, there are a few important aspects to consider in the creation of the agreement.
The time at which you submit a prenuptial agreement matters. As the name indicates, a prenup must go into place before the marriage becomes official. For the prenup to be valid at the time of execution, one consideration is whether both parties fully agreed to the terms at the point of creation. Therefore, before submission, both parties must have time to review the agreement, have an attorney review it if they would like to, and request or make any adjustments. Therefore, a 30- to 60-day window before the marriage is ideal. However, for those already married by legal standards, there is a postnuptial option.
As with any executable agreement, a prenup must meet legal requirements. To ensure this, it can be beneficial to review the divorce law for New Jersey in full. Along with legal requirements, different couples may have their own specific concerns, which the agreement may cover as well. Another important element of the agreement is any spousal support payments or the waving of that element. As long as the terms are fair and both parties agree to them, there is a good chance they will uphold in court.
The main purpose of the prenuptial agreement is to have a plan in place in the case of a divorce. Therefore, designating the distribution of assets is a key component of the agreement. Designating separate and marital assets upfront can be very beneficial during the execution of a prenup.
Every marriage, and every divorce, is different; therefore, there may be specific aspects unique to each prenuptial agreement. Take some time to consider the key aspects that would make your prenuptial agreement work for you.