For many couples, entering into a pre-nuptial agreement can be a smart way to proactively address some basic issues and avoid uncertainty down the line. If you are considering a pre-nuptial agreement, schedule a free consultation today to discuss your options.
Despite the common perception that entering into a pre-nuptial agreement is simply a form of “preparing for divorce,” the truth is that pre-nuptial agreements have a number of benefits and can serve a variety of different, non-divorce-related purposes. The attorneys at Rush & Savoia are experienced family law attorneys who have more than a decade of experience preparing and negotiating personalized pre-nuptial agreements. If you are considering a pre-nuptial agreement, or if would like more information about whether a pre-nuptial agreement makes sense for your personal circumstances, we encourage you to contact us for a free, no-obligation consultation.
Common Provisions in New Jersey & Pennsylvania Prenuptial Agreements
Couples in New Jersey and Pennsylvania enter into pre-nuptial agreements for a wide variety of different purposes. While some of these purposes relate to protecting assets and avoiding costly disputes in the event of a divorce, pre-nuptial agreements can cover a wide range of other topics as well.
We commonly prepare pre-nuptial agreements that address issues such as:
- Contributions to savings and retirement accounts
- Control and operation of privately-held businesses
- Liability for debts incurred prior to the marriage
- Methods of informally resolving disputes
- Management of household and educational expenses
- Ownership of separate property
- Providing support for children from prior relationships
- Spousal support obligations in the event of a divorce
- Tax deductions and filings
- Transfer of property in the event of one spouse’s death (commonly addressed as part of an overall estate plan)
Five Key Considerations for Entering Into a Pre-Nuptial Agreement
If you are considering a pre-nuptial agreement, here are five important considerations to keep in mind:
- Pre-nuptial agreements are not for everyone. While there are many different reasons to enter into a pre-nuptial agreement, pre-nuptial agreements still aren’t for everyone. If a pre-nuptial agreement isn’t necessary given your personal circumstances, we will let you know.
Some of the most common scenarios where we recommend entering into a pre-nuptial agreement include:
- If you have significant assets or earn a high income
- If you or your fiancé was married previously
- If you or your fiancé has children from a prior relationship
- The time to get started on your pre-nuptial agreement is now. You do not want to wait until the eve of your wedding to get started on your pre-nuptial agreement. Preparing and negotiating a pre-nuptial agreement while still maintaining a happy relationship takes time and skill. Waiting until the last minute to present and agree upon a pre-nuptial agreement with your significant other may lead to bitter feelings and issues regarding enforceability (coercion) as well.
- Pre-nuptial agreements can serve a wide variety of purposes. As discussed above, pre-nuptial agreements can serve a wide variety of purposes. All fiancés should take the time to evaluate whether their personal circumstances call for a pre-nuptial agreement.
- There are ways to effectively broach the subject with your fiancé. If you are concerned about how your fiancé will react to your proposal for a pre-nuptial agreement, we can help you tactfully raise the subject and avoid unnecessary premarital discord.
- There are important considerations for ensuring that your pre-nuptial agreement is enforceable. Along with timing, there are a number of other important considerations when it comes to preparing an enforceable pre-nuptial agreement as well. For example, you must be sure to provide a “full and fair” disclosure of your financial information and there are certain subjects that are off-limits when it comes to pre-nuptial agreements.
Learn More About New Jersey and Pennsylvania Pre-Nuptial Agreements
To find out if your personal circumstances counsel in favor of entering into a pre-nuptial agreement, call (908) 713-9800 or contact us online to schedule a free, one-on-one consultation with an attorney at Rush & Savoia. There is no reason not to explore your options, so get in touch today.