Should I Draft a Postnuptial Agreement?

Should I Draft a Postnuptial Agreement?

Our firm recommends that everyone create a prenuptial agreement before their marriage. In New Jersey, people draft prenuptial agreements to protect some of their most important assets from a potential future divorce. While in the past, there has been a stigma attached to prenuptial agreements, this is no longer the case, and couples everywhere draft them frequently. However, if you are someone who has not drafted a prenuptial agreement with your spouse-to-be, are already married, yet, you wish to have some of the same protections that a prenuptial agreement has to offer, you may still draft a document known as a postnuptial agreement. Please continue reading and speak with our experienced Bergen County family law attorneys to learn more about postnuptial agreements and how we can help you through the process ahead. Here are some of the questions you may have:

What is the purpose of a postnuptial agreement?

Some of the many reasons that couples will draft postnuptial agreements are as follows:

  • They did not create a prenuptial agreement initially and now wish to create a postnuptial agreement.
  • Both spouses are seeking to avoid the potential financial cost of the equitable distribution process, should they get a divorce.
  • One spouse had a significant change in financial circumstances. For example, if one spouse receives a job promotion, or gets a higher paying job, or even receives a large inheritance, he or she may wish to protect those assets, should they ever get a divorce.

How do I know if my postnuptial agreement is valid and enforceable?

Rather obviously, any document has no legal standing if it is not deemed both valid and enforceable in the eyes of the law. The qualifications for a valid postnuptial agreement in New Jersey as follows:

  • Both spouses must retain legal counsel
  • Both spouses must verify that they have had sufficient time to consider the terms of the agreement
  • The terms of the postnuptial agreement must be “fair and reasonable” to both parties
  • New Jersey courts must not detect any trace of intimidation, conversion, manipulation, or otherwise in terms of signing the agreement.
  • Both spouses must disclose their finances and all other assets addressed in the agreement
  • Both spouses must agree that the terms are fair and reasonable

Contact our experienced Bergen County firm

At Townsend, Tomaio & Newmark, our attorneys have extensive experience helping clients to understand and protect their legal rights before, during, and after the divorce process in towns across New Jersey and Bergen County, including Hackensack, Ridgewood, Paramus, Teaneck, and Fort Lee. To speak with our team of divorce lawyers today in a free and confidential consultation regarding your concerns about your divorce, please contact us online, or through our Hackensack, NJ office at (201) 397-1750.

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