Divorce is never easy, and few people want to consider the possibility of dissolution while things are going well. However, married couples in New Jersey could benefit from drawing up a post-nuptial agreement anyway.
What is a post-nuptial agreement?
Amicable property division during the divorce can help with healing and moving forward after. For example, there will be fewer disagreements about what to do with the house or how other assets will be distributed.
In such cases, a post-nuptial agreement can help support a smooth transition to unmarried status.
Post-nups are less well-known than the infamous prenups that celebrities sign before taking the plunge into matrimony. They address issues such as asset division after a couple marries but before the marriage is in jeopardy.
They’re a solution when:
- Couples want to change the terms of a prenup
- Business or financial circumstances are changed after marriage
- Family dynamics change, such as children from other relationships
- The couple owns a business together
Post-nups can also be drawn if there is an impetus to enter into a prenup before the marriage but the couple wants to settle some terms after the stress of the wedding subsides. Post-nups are also common when there has been a significant challenge to the marriage, such as infidelity, but the couple wants to stay married.
Important considerations about post-nups
Under New Jersey law, a postnup is only legally enforceable when both parties agree to the terms, each has their own legal counsel, and the agreement is not enacted under pressure or duress. There must also be full financial disclosure, and the terms must not unfairly favor one party over the other.
However, postnups are not the place to discuss child custody, visitation, or support issues.
They do provide an opportunity to settle questions about spousal support and division of assets when things are calm and peaceful rather than in the heat of a divorce.