Marital Agreements Attorney in Union County, NJ

Read on to learn more about some of the different forms of marital agreements and how they are carried out.

Marital Agreements in New JerseyWhile marriage is most often the coming together of two people who are in love and committed to traversing the ups and downs of life together, marriage is also a legally binding contract a couple enters into. Once married, a couple shares financial responsibility in addition to a myriad of assets and other responsibilities such as, perhaps, raising and supporting children. Many couples decide to enter into a marital agreement to navigate the on-the-ground realities of the legal union of marriage. A marital agreement can be integral to the smooth functioning of a relationship. Because it creates a linear outline of each partner’s needs, expectations, and understanding of the material framework of the matrimony, a marital agreement can make communication much clearer and the couple’s vision of their orientation much easier to share. There are multiple types of marital agreements.

Prenuptial Agreements

Prenuptial agreements are both the most well-known and the most common forms of marital agreements. A prenuptial agreement creates a structure for the legal underpinnings of the marriage and is signed before the couple says, “I do.” It addresses the aspects of the marriage that are much like a business partnership. These asset- and finance-based elements are outlined so that the financial individuality of each partner is clearly established and protected in the case of separation by the purview of the New Jersey Superior Court: Family Part. A prenuptial agreement, or ‘prenup,’ as it is often called, also outlines how the separation would be handled, including how the marital assets such as savings and estates would be divided and how alimony considerations would be approached. It is imperative to support a family law attorney when drawing up and execute a prenuptial agreement because based on the solidity of a prenuptial agreement, a New Jersey Superior Court judge will utilize the prenup as the default for divorce, not standing divorce law.

Postnuptial (mid-marriage) Agreements

A postnuptial or mid-marriage agreement is drawn up during the marriage course to clarify each party’s financial and legal rights in the couple. It can either be a revision of the prenuptial agreement or be a new document altogether. A postnuptial agreement may be entered into court records when the marriage arrangement has changed so that there is clarity about each partner’s rights to assets and finances in the case of divorce; for example, the case of one partner leaving the job force to raise children could instigate the need for a postnup, as they would want insurance that they would maintain a fair share of assets in the divorce regardless of how much they are financially contributing to the marriage.

Cohabitation Agreements

Contact a Union County Marital Agreement Attorney TodayMarried couples aren’t the only ones who can agree to protect assets in the case of separation. Cohabitation agreements outline the current nature of the relationship and its shared assets and provide an outline of how assets would be split in the case of separation. Because there are no strict legal protections for partners within unmarried couples, cohabitation agreements maybe even more important for unmarried couples than married couples. Cohabitation agreements may organize how property, joint savings, joint investments, and other assets are distributed in the case of divorce; they lay out the terms of financial support for a non-breadwinning partner in the case of separation – an unofficial form of alimony, and they may determine how child support and custody would be handled in the case that the couple has children and separates.

Any marriage agreement, be it a prenuptial, postnuptial, cohabitation, or reconciliation agreement, must be developed in the presence of legal representation for both parties. Each party signs a document affirming that they were legally represented and not coerced by the other party in any way. While a person may waive the right to legal representation, it is not represented, as the agreements laid forth in such a document are legally binding and may play a key role in one’s financial future for many years following a divorce.

Contact a Union County Marital Agreement Attorney Today

At Edward Cooper Law Firm, our team of experienced divorce attorneys supports our clients in Summit, Scotch Plains, Linden, Elizabeth, and the greater Union County area in ensuring that their marital rights are met and their assets protected before, during, and after marriage.

To schedule a consultation with a member of our firm today regarding your marital agreement, please contact us online or through our Linden, NJ office (908) 481-4625.