Should I get a Prenuptial Agreement?

Prenuptial/Premarital agreements are an increasingly common way for married couples to protect their assets and eliminate the need for expensive divorce litigation.  Prenuptial agreements can cover a wide range of topics such as: alimony, the division of property upon divorce, and even expectations about how expenses should be divided during the marriage.  Oftentimes, clients with significant assets such as a business, a home, or even sizeable savings benefit from clearly outlining in a prenuptial agreement that these assets will not be divided upon divorce.  Many couples enter into marriage with the intention of keeping their finances separate and a prenuptial agreement can memorialize that understanding in an enforceable way to ensure that in the event of a divorce both parties retain the funds and retirement savings they accumulated during the marriage. While many people view prenuptial agreements as a way to shield a higher-earning spouse from paying alimony, they can also be used to simply outline fair terms to both parties to ensure that any future divorce is simple and straightforward.  For these reasons, anyone with significant assets, a desire to keep finances separate during the marriage, or simply to avoid costly litigation in the future, strongly consider negotiating  a prenuptial agreement prior to get married. 

In New Jersey, Prenuptial/Premarital agreements are governed by N.J.S.A. 37:2-32 which has been amended several times by the State Legislature.  There is also a large body of case law concerning the enforceability of these agreements.  A poorly drafted prenuptial agreement will only increase the cost and complexity of any future divorce.  Moreover, prenuptial agreements that do not meet the strict requirements of the statue are unenforceable as a matter of law.  Parents are also barred from including provisions dealing with custody and parenting time in prenuptial agreements. Parties also need to consider that an agreement that seems appropriate now, may no longer be fair years in the future.  Given these potential pitfalls, it is critical to consult with an experienced family law attorney to help you negotiate and draft a prenuptial agreement.  The attorneys at Maleski, Eisenhut & Zielinski LLC are experienced in these issues and can help you navigate the various considerations.