Considerations for prenuptial agreements in New Jersey

One of the most important aspects of putting together a prenuptial agreement in New Jersey is to ensure that it is enforceable. Otherwise, the time and effort crafting the document will have been a waste.

 

New Jersey operates under the Uniform Premarital Agreement Act, which stipulates the following conditions in order for the prenuptial agreement to be enforceable:

 

  •          It must be in writing.
  •          Both parties must sign the document.
  •          It cannot be made under duress or without one party receiving full and fair disclosure of financial information.

 

Further, the agreement cannot be unconscionable or treat one party extremely unfairly.

 

In addition to those factors, couples that are drafting an agreement are advised to talk about finances honestly. A report in Daily Finance suggests that tax season presents a good time for people to start talking about money. This is also convenient, as tax documents provide a comprehensive look at both parties’ situations.

 

Couples are also encouraged to start planning the agreement long before the wedding. Doing so will give each person plenty of time to review the document. Further, it can be difficult to enforce a last-minute contract, as one party may try to demonstrate that the agreement was signed under duress.

 

Lastly, people who are putting together a prenuptial agreement should keep emotions out of the situation as much as possible. It can be easy to get swept up in distractions, but properly planning for one’s financial future can help prevent serious turmoil down the road. Working with a professional to put together these agreements can help provide an unbiased source of logic.

Date Published: February 7, 2017


Written by: Cooper Levenson, P.A.

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