There are two basic types of marital agreements – a prenuptial agreement and a postnuptial agreement. The legalities and issues are typically the same between both types of agreements. The difference between the two is in timing, prenuptial agreements occur prior to a marriage and postnuptial agreements are entered into during the marriage.
With both types of agreements, the couple will decide how they want to split up property and how to calculate spousal support. Sometimes a couple tries to add information about children such as custody or child support but courts do not generally allow that.
Distinguished divorce attorneys have seen that premarital agreements allow a person to enter into a marriage with a certain level of financial security. Postnuptial agreements allow a person to resolve issues regarding finances. It may be critical to speak with an East Brunswick marital agreement lawyer about your case.Reconciliation Agreements
In New Jersey, there is another type of marital agreement that is called a reconciliation agreement. Technically it is a different form of postnuptial agreement. The reasoning for reconciliation agreements are that a married couple separated and now want to re-enter the marriage and this agreement will make it easier for them to do so.
This area of law can be complex and daunting. That is why it is paramount to talk to an East Brunswick marital agreement lawyer before signing any of these types of agreements.Advantages and Disadvantages of Marital Agreements
There are several benefits to a marital agreement such as:
At the same time, there are some drawbacks to marital agreements including:
The law is the same for premarital and postnuptial agreements. Generally, the agreements are extremely flexible and allow individuals to put in whatever terms they want. It just must be in writing and signed by both people.
However, if the agreement is against public policy it will not be enforced by the court. This is why the courts are hesitant to uphold agreements regarding children. Furthermore, marital agreements are invalid if they are unconscionable or involuntary. Couples may want to reach out to a East Brunswick marital agreement lawyer to confirm the details of their contract.
Unconscionable contracts are those where one side does not provide a full disclosure of all of their assets. This information could not be discovered through any reasonable means by the other person.Hiring a Lawyer
The agreed conditions can be found unconscionable if you decide to not have full disclosure but the other person expressly and voluntarily waives their right to full disclosure. Another way an agreement can be found unconscionable is if the other side did not have their own East Brunswick marital agreement lawyer. Marital agreements are involuntary when one person signs the agreement under some form of duress such as intimidation, threats or physical harm.
Whether you are considering a premarital or postnuptial agreement you should speak to an attorney before creating or signing one. It is important that both people have their own lawyer so that their own needs and wants are adequately represented in the agreement. By having independent counsel for each side it is less likely that a court would find the agreement unconscionable.
There are benefits to entering into a marital agreement but it will not help you if it is not legally enforceable. Speak to an East Brunswick marital agreement lawyer so that you can decide whether an agreement of this sort is necessary for you.