Non-Marital Agreement Attorneys Bergen County, NJ
Experience Helping Clients With All Types of Non-marital Agreements
Non-marital agreements, sometimes referred to as cohabitation agreements, are extremely important when it comes to helping any unmarried couple enjoy many of the same rights and protections a marriage can offer while remaining unmarried.
Not only can cohabitation agreements protect and account for the individual and joint finances of the couple, but they can also grant them certain key rights otherwise exclusive to marriage (the details of which we will discuss below).
However, when it comes to a cohabitation agreement, be it drafting the initial non-marital agreement, modifying a non-marital agreement, or contesting of affirming the validity of an existing non-marital agreement, the most important part of this process is retaining the counsel of an experienced Bergen County non-marital agreement attorney.
At The Law Office of Townsend, Tomaio & Newmark, our attorneys have extensive experience helping unmarried couples with all issues related to cohabitation agreements in towns across Bergen County, including Ridgewood, Paramus, Hackensack, Teaneck, and Fort Lee.
Call our office to discuss your unique needs and concerns when it comes to a cohabitation agreement in a free and confidential consultation with our attorney team today.
The Benefits of a Cohabitation Agreement
There are several reasons why any unmarried couple may wish to enter into a cohabitation agreement. As previously mentioned, cohabitation agreements can help protect the individual property of both parties in the relationship, but also determine which joint or individually-owned assets should be divided, and how, if the relationship dissolves.
Not only can this save both parties in the relationship a great deal of time and stress should they eventually decide to end their relationship, but it can also help to strengthen the relationship itself as both parties will feel more comfortable and protected moving forward. Besides addressing the issue of equitable distribution, cohabitation agreements can also grant certain important rights and authorities to both parties in the relationship that are normally only associated with marriage. These additional benefits include:
- Giving power of attorney to one or both parties
- Giving each party the ability to be involved in health care decisions regarding their partner
- Allow each party the right to make advanced health care directive decisions in the event of an emergency
- Allow for the parties to add their partner to a health or life insurance policy
As you can see, these advantages, in particular, make the signing of a cohabitation agreement extremely beneficial for any unmarried couple.
Legal and Enforceable Non-Marital Agreements
Now that we have a better understanding of the potential benefits of a non-marital agreement, it is important to understand how to draft a legal and binding non-marital agreement, or when an existing agreement may not be considered valid by a court.
For the terms of any cohabitation agreement to be considered valid and enforceable, several key requirements need to be met when signing the initial cohabitation agreement. These requirements are:
- Each party entering into the agreement retains separate legal counsel, or expressly waives their right to counsel in writing
- Any assets mentioned in the cohabitation agreement need to be fully disclosed, and accurately valued
- Both parties must be given a reasonable amount of time to consider the implications of entering into the cohabitation agreement before signing it
- There must be no evidence of manipulation, coercion, or threat by either of the parties against the other to influence them to sign the agreement
While each of these requirements needs to be met for a cohabitation agreement to be considered legal and enforceable, one of the most important aspects is that of full and accurate financial disclosure. If it is determined that any asset mentioned in the agreement, or the financial status of either party was not fully disclosed or accurately valued, it will most likely cause the agreement to be considered invalid by the courts.
For this reason, our attorneys regularly consult with financial experts of all kinds to ensure that you and your partner’s finances and assets are correctly valued, and the implications of those values are well-accounted-for in your non-marital agreement.
Contact Our Hackensack Cohabitation Agreement Lawyers Today
At Townsend, Tomaio & Newmark, our attorneys have extensive experience helping clients to create, sign, modify, contest, and affirm non-marital agreements of all kinds in towns across Bergen County, including Paramus, Teaneck, Ridgewood, Hackensack, and Fort Lee.
By practicing exclusively family law, our firm can focus on providing each of our clients with the knowledgeable, effective, and attentive legal service that they need and deserve in matters so important to their financial and legal future. Whether you are seeking guidance regarding a potential cohabitation agreement, need to modify an existing cohabitation agreement, or are in need of legal representation when the validity of your cohabitation agreement comes into question, we are prepared to provide you with exactly this type of service, and work diligently with you to resolve your legal matter in the way that makes the most sense in your unique situation.
To speak with our non-marital agreement team today in a free and confidential consultation regarding any issue, concern, or dispute related to a non-marital agreement, please contact us online, or through our Hackensack, NJ office at (201) 397-1750.
