People in New Jersey usually walk down the aisle with the expectation that their marriage will stand the test of time. Unfortunately, this is not always the case. The simple fact is that a number of marriages do result in divorce. A prenuptial agreement, or prenup, can come in handy during any subsequent family law proceeding when it comes to protecting one's assets in the midst of the divorce.
A major issue that a prenuptial agreement addresses is what will take place if a marriage does not last. This written contract spells out what will happen to assets and debts in this situation, thus preventing a couple from having to spend a lot of money and time in divorce court squabbling over these issues. This is especially valuable for a person who is going into a marriage with high-value assets that he or she wants to safeguard.
One mistake that some who are about to marry make is procrastinate when it comes to putting an agreement together. The sooner a couple create one, the better. This prevents them from having to rush to create one before the marriage, which increases their chances of overlooking important items to include in the agreement. Moreover, the validity of any agreement signed may depend upon whether each party had a sufficient amount of time to consider the terms and conditions contained in the premarital contract.
Today, where the blended family is now the norm, prenuptial agreements can be invaluable for protecting oneself and one's family. With proper legal guidance, it's possible to put together a prenup that works best for a particular situation. Nevertheless, those getting divorced in New Jersey who never created a prenuptial agreement can still rely upon the family law process to work toward a settlement that is fair and equitable to both parties.
Source: hometownlife.com, "Prenuptial agreement is part of a smart marriage", Rick Bloom, May 12, 2016