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A prenuptial agreement’s value

On Behalf of | Nov 11, 2022 | Divorce

Prenuptial agreements come with many potential benefits for people who are wishing to preserve their net worth should they end up going through a divorce. A pre-marriage contractual agreement establishing the division of assets and other terms may also provide fair settlement terms to the other spouse. Another potential upside exists with this agreement. Working together on drafting a prenuptial agreement might help both spouses communicate better and build a stronger marriage.

Prenuptial agreement communications

Devising a prenuptial agreement should be a balanced process. Both parties could work through the agreement and explain their position to one another. The process may involve both parties looking at each other’s financial and other assets and determining what constitutes a fair division.

Discussions about the future could become part of the prenuptial agreement negotiations. Understanding what both parties want for their financial future could assist with drafting a workable contract that allows them to chart a path to their goals.

Starting early in the process might be wise. Requesting someone to sign a premarital agreement three weeks before a wedding does not likely give them a chance to make an informed decision. Conversely, discussing prennuptial agreements as early as possible can avoid conflict or tension that might otherwise never go away.

Legal prenuptial agreements

Premarital agreements must be valid under New Jersey law. Any document that does not adhere to state law may be unenforceable in court. If someone without sufficient knowledge of these contracts attempts to use a generic DIY one, the results might be problematic.

Also, one party cannot force or coerce the other to sign or commit any acts of fraud. Doing so might render the agreement invalid. Deceiving a soon-to-be spouse may also damage a relationship irreparably.