What is a Non-Marital Agreement?

What is a Non-Marital Agreement?

Many people choose to remain unmarried, despite having a long-term significant other. However, without a non-marital agreement in place, if your relationship ends and you share a house, car, or more, it can be very difficult to determine who gets what. This is why many partners choose to obtain a non-marital agreement, just in case they need one in the future. These agreements, also sometimes referred to as cohabitation agreements, are always best when drafted with the help of an experienced attorney. If you believe a non-marital agreement can benefit you, please read on to learn more.

What does a non-marital agreement do?

Essentially, non-marital agreements seek to provide both members of a relationship the same sense of security married couples can enjoy. A non-marital agreement can allow partners to do the following:

  • Establish powers of attorney for one or both partners
  • Allow both partners to be involved in health care decisions regarding their significant other
  • Permit each party to make advanced health care directive decisions, should an emergency occur
  • Permit both parties to include their partner in a life or health insurance policy

What are the qualifications for a non-marital agreement?

Rather obviously, a legal document that is not valid and legally enforceable means nothing. An experienced attorney can help ensure you have everything you need to draft a legally enforceable non-marital agreement. The qualifications for a valid non-marital agreement in the state of New Jersey are as follows:

  • Each party must either retain separate legal counsel or waive their right to legal counsel in writing
  • There must be no evidence of manipulation, coercion, or threat by either of the parties against the other to force their partner to sign
  • All assets mentioned in the cohabitation agreement must be fully disclosed, and honestly and accurately valuedBoth parties must have a reasonable amount of time to consider whether or not they want to sign a
  • non-marital agreement

If you and your partner agree at some point down the road that you would like to modify an existing cohabitation agreement due to a significant change in either you or your partner’s life, in some cases, with the help of a seasoned attorney, you may.

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 moving out of your marital home during your divorce, please contact us online, or through our Hackensack, NJ office at (201) 397-1750.

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