A prenuptial agreement, or “prenup”, is a written agreement between prospective spouses in contemplation of marriage that will become effective upon marriage. A prenup in New Jersey can be prepared to protect any asset, even those acquired after marriage, including:

• Real Estate and other Property
• Investment Accounts
• Trusts
• Business Interests and Assets
• Foreign Assets
• And more

Prenups can also address many other concerns so long as the provision is not against public policy. Just some of these concerns are:

• Determining the division of assets upon divorce
• The terms and amount of alimony
• Asset values
• The making of a will to carry out the provisions of the prenup
• Choice of law governing the construction of the prenup
• And more

There are a number of reasons to enter into a prenup. By predetermining the treatment of assets and many other potential concerns before marriage, many couples who enter into a prenup find themselves litigating far less in the event of separation or divorce. Prenups are especially important to consider if you:

• Own a business,
• Anticipate receiving a significant inheritance or monetary gift
• Were previously married
• Have children from a prior relationship
• Have significantly more assets than your prospective spouse
• Earn significantly more than your prospective spouse
• Are the beneficiary of a trust
• Are marrying someone with significant debts or student loans, or
• Have particular concerns about your privacy

The agreement must:

• Be written and signed by both parties
• Include a statement of assets, and
• Fully disclose all earnings, assets, and financial obligations
• Each party must:
• Hire their own independent legal counsel or voluntarily waive, in writing, the opportunity to consult with independent legal counsel
• Enter into the prenuptial agreement voluntarily; and
• Have sufficient time to consider all the terms of the prenuptial agreement before marrying