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You and your spouse have decided to end your marriage. Although this has been a difficult decision for you and your spouse, it can be a very complicated one for your children. Divorce in many ways is like facing a death in the family, and a...
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It’s been said that one of the problems that married couples have today is that men tend to choose their wives the same way they choose their cars or trucks. They get the best one available and hope that there’s not much maintenance down the road. ...
Prenuptial Agreements
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Prenuptial Agreements: Should They Be A Prerequisite To Marriage?
While not exactly the glamorous side of a marriage proposal, the
idea of a prenuptial, or ante nuptial, agreement is something
that most people about to be married should discuss. In case a
marriage doesn't work or one spouse dies before you have a
chance to do a comprehensive estate plan, a prenuptial agreement
can safeguard assets, protect one party from the other's debts,
and make any possible divorce proceedings go more smoothly
without unnecessary rancor. Since more couples are signing
prenuptial agreements, you need to discuss this openly with your
intended spouse.
Some prenuptial agreements can cover day-to-day details such as
who will pay the mortgage and other bills or how child care is
to be handled. Since more couples are signing prenuptial
agreements, you need to discuss this openly with your intended
spouse. If you both feel a prenuptial agreement fits your
situation, you each need to see a lawyer to discuss it further.
Even though more prenuptial agreements are being signed then
ever before, it is something to consider only if one of the
following applies to you:
If either of you have children from a previous marriage. If you
own a business or are involved in a family run company. If
either one of you have significant assets which you want to keep
separate. If you are concerned about the amount of debt of the
other party. If you are giving up a lucrative career to get
married. Once you have decided if you need a prenuptial
agreement and what should be in it, the question becomes whether
or not
it will be valid and enforceable. There are certain
essentials to creating a valid prenuptial agreement:
The agreement must be in writing and executed before the
marriage, preferably in front of a notary public. Neither party
should be put in the position of having to sign the agreement on
short notice. If your future spouse confronts you with an
agreement on the day of your marriage, it will probably not be
enforceable.
The agreement must be fair and reasonable under all of your
circumstances and based on full disclosure by both parties of
all assets and liabilities. One lawyer cannot fairly represent
both parties. Each party to the agreement should have their own
attorney to prepare/review the document and answer all of your
questions before signing.
The sooner before the wedding date that you prepare the
prenuptial agreement the better it will be for both of you and
your relationship. Either party broaching this subject is likely
to be suspected by the other of lack of trust. However, since
more then half of all marriages do end in divorce, having a
prenuptial agreement should be considered a very practical thing
to do and not a doomsday expression of your marriage's chances.
In fact, open communication with your new partner could be the
best way to start a new relationship.
About the author:
Bernard Berkowitz is a partner in the New Jersey law firm of
Berkowitz & Raiken LLC. http://www.berkowitzraiken.com/ Mr.
Berkowitz is a legal articles contributor to
http://www.JerseyJustice.com
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| Welcome To Divorce Online ~ www.divorceonline.com |
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