Seeking a Prenuptial Agreement for your Second or Subsequent Marriage
As an individual with assets, you need to protect your right to those assets. One way you can do this is by signing a prenuptial agreement before getting married. Although it may seem unromantic or defeatist to sign this type of agreement, the truth is that is provides a framework for the division of your assets if you and your spouse choose to divorce. A prenuptial agreement can also be used to ensure that your children from any previous relationships and even previous spouses receive part of your estate following your death. This is why prenuptial agreements are especially popular with individuals entering their second or subsequent marriages – without such an agreement in place, one’s current spouse may take control of his or her estate after his or her death. A prenuptial agreement is a way to protect your beneficiaries’ rights to your assets.
In New Jersey, prenuptial agreements are governed by the state’s adopted version of the Uniform Premarital Agreement Act. This Act, like other uniform acts, provides a template that each state may adopt and develop into its own law regarding prenuptial agreements.
Talk to your partner about the importance of signing a prenuptial agreement together before you marry. This document is a contract that you both need to agree to and develop together – if one party does not consent to a prenuptial agreement or if it is later found that one of the parties was unable to consent or did not fully disclose his or her assets when the document was signed, the couple’s prenuptial agreement may be voided.
Issues That May be Covered in a Prenuptial Agreement
Any issues related to the couple’s shared property and finances may be included in their prenuptial agreement. Examples of these topics include:
Each partner’s right to the couple’s shared assets. For example, a couple may decide that in the event of a divorce, one party will buy out the other’s share of the couple’s home.
Either individual may waive his or her right to seek alimony following a divorce.
Each partner’s life insurance beneficiaries.
Whether specific pieces of property may be considered to be joint or separate property.
Any rights that either partner’s children or former spouses have to his or her assets.
Issues that can not be quantified may not be included in a prenuptial agreement. Examples of these include stipulations about how many children a couple will have or the type of lifestyle they will maintain during their marriage.
Do not get married without a prenuptial agreement. In the event of a death or divorce, having a prenuptial agreement in place can make the process of determining your assets’ ownership simple and straightforward. Call The Law Office of Eric B. Hannum Esq., LLC. at 732-370-9596 or visit our firm on the web to set up a legal consultation with one of the expert divorce attorneys at our firm. We are here to provide you with expert legal advice and representation about your prenuptial agreement and how it may come into play in the event of a death or a divorce.