Marital agreements are one way for people to protect their assets in case of a divorce or death. The benefits of marital agreements in Monmouth County is that they also serve as a way of proactively making sure that your assets are protected. There are two main types of agreements available: a prenuptial agreement and a postnuptial agreement.
The main difference between them is that the prenuptial agreement occurs before marriage and the post-nuptial agreement occurs during a marriage. Otherwise, both agreements are the same because they allow a couple to come to an agreement on how they want to split up their assets and protect their finances.
By speaking to a qualified Monmouth County marital agreements lawyer, you can get advice on whether your agreement is fair to both parties. You can also make sure it is valid and enforceable under the law.Benefits of a Premarital Agreement
There are several benefits of marital agreements in Monmouth County, especially if these agreements are made prior to getting married. Some of these benefits are:
If an individual is giving up their career, a premarital agreement can ensure there is an adequate spousal support plan in place.
Conversely, one can limit the amount of spousal support they may have to pay by putting it in the agreement.Benefits of a Postnuptial Agreement
Like a prenuptial agreement, a postnuptial agreement can also protect an individual’s finances. However, some benefits of marital agreements in Monmouth County, are specific to postnuptial agreements.If an individual wants to start a new business that they want to protect, they can do so with a postnuptial. Similarly, if someone purchases new property, they can protect this investment even during a marriage. A postnuptial can lead to a reconciliation in a marriage. There is a specific type of postnuptial agreement for this situation, called a reconciliation agreement. When a couple separates, they can draw up a reconciliation agreement to protect their financial assets and then return to the marriage.
Even if a couple has not separated, a postnuptial agreement can put an end to conflict within a marriage. If the couple is constantly arguing over finances, a postnuptial can lay out exactly who owns what.Talking to a Marital Agreements Lawyer
There are many benefits of marital agreements in Monmouth County, whether they are prenuptial agreements or postnuptial agreements. Which one a couple decides on will depend mainly on which stage they are in their relationship. Whether newly engaged or married for 15 years, a marital agreement can have potential benefits for a couple.
A Monmouth County marital agreements lawyer can help you create an agreement that is not only beneficial, but also adheres to the law so it will be upheld later on in court during a divorce. These agreements can also protect your children in place of a will to make sure they inherit your property.
Both spouses can benefit from a marital agreement as long as they have their own independent lawyers that can inform them of their rights and how the agreement can protect them.