New Jersey allows two types of marital agreements: a postnuptial agreement and a prenuptial agreement. A prenuptial agreement is when a couple decides how they will split up property and calculate spousal support before getting married.
A post-nuptial agreement has similar focuses, but the timing is different because it is created during a marriage instead of before it. Usually, a couple decides to enter into a post-nuptial because of a severe financial change or because there is uncertainty in the relationship.
Lastly, there is a specific type of post-nuptial agreement called a reconciliation agreement. A reconciliation agreement is a way for separated spouses to settle any financial disagreements or uncertainties and then return to the marriage.
The consequences of a marital agreement can be long-lasting, especially financially. Therefore, before you sign a marital agreement or create one, contact a skilled Monmouth County marital agreements lawyer who can help you understand the repercussions of marital agreements in Monmouth County.Areas Covered by Marital Agreements
Section 37:2-34 lists what is allowed in a New Jersey marital agreement. Although the law specifically states premarital agreements, it also applies to post-nuptial agreements.
When a couple enters into a marital agreement, they can decide to include any rights to property, spousal support, life insurance benefits, and any other rights, as long as they are not in violation of public policy. A couple cannot make agreements regarding child custody or invalidate child support requirements.Impact of a Valid Marital Agreement
The repercussions of marital agreements in Monmouth County is that they will be enforced by a court. It is extremely important that an individual understand what they are agreeing to because once they sign the agreement, the court will bind them to that agreement.
An individual may be giving up rights to profitable property or spousal support that they need to get back on their feet. That is why speaking to a Monmouth County lawyer is so essential.
A person does not want to enter into an agreement and then have their circumstances drastically change to the extent that the agreement would be harmful to them.Consequences of an Invalid Marital Agreement
A court will not enforce a marital agreement if the agreement was not voluntary or if it was unconscionable. Agreements will be considered involuntary if one party used threats, force, or intimidation to get the other person to sign. Unconscionable means that the agreement:
If the court finds that the agreement involuntary or unconscionable, they will not force the parties to go through with it. This means that you may be assuming your assets are protected by an agreement when actually they are not. The repercussions of marital agreements in Monmouth County can massively impact your life.
Speaking to a Monmouth county marital agreements lawyer can be helpful because if there is an error in your agreement, a lawyer can suggest satisfactory amendments that will make it enforceable.
On the other hand, if you speak to a lawyer before entering an agreement, you can try to ensure that the terms are favorable to you and not against your interests.