Men and women who are about to enter into a marriage may question what benefits premarital contracts may provide. In this review, we will cover the purposes and requirements of New Jersey prenuptial agreement forms and answer why these contracts are worth considering.
Prenuptial agreements do not question confidence. On the contrary, these documents appear to be an excellent means to prove the potential spouses trust each other and have nothing that can be recognized as an “unfair surprise.” The term “unfair surprise” is defined as any financial information concealed by someone intentionally, including severe debts, liabilities, or other money-related aggravations.
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Once upon a time, prenups (or else premarital contracts) were adopted only by wealthy people who desired to protect their separate assets from possible attempts should the separation end in divorce. Nowadays, the purpose of prenup agreements has evolved and expanded, providing new ways of securing premarital assets, accounts, and nerves of both parties.
New Jersey prenup settlement is drafted between potential spouses before the marriage is legally registered. The paper outlines how monetary funds, estate, separate and community property will be distributed in case of legal separation, divorce, or death of either spouse. The prenuptial agreement template is created and acknowledged jointly. New Jersey jurisdiction doesn’t impose a compulsory certification by a notary public agent. Still, inviting one is a sign of good manners.
New Jersey doesn’t provide a universal contract template. It is recommended that each potential spouse has their attorney to avoid drafting an unfair, one-sided premarital covenant. Although the document is exclusively created to meet both parties’ demands, certain requirements are mandatory for all premarital contracts.
Various agreements may include some extra points depending on the parties’ preferences. Still, all documents should comply with state laws.
In New Jersey territories, prenuptial covenants are regulated by Title 37 of the state Revised Statutes. New Jersey is one of the states that adopt the Uniform Premarital and Marital Agreements Act (UPAA). Below are several requirements that the potential spouses should comply with to maintain the covenant’s validity and enforceability.
New Jersey jurisdiction § 37:2-33 of the Revised Statutes demands that every premarital contract should be authorized by both signatories. Also, the parties need to attach a list of possessions and financial assets.
Should the spouses decide to introduce adjustments or terminate the contract after the marriage, they need to draft and authorize a separate document and provide all amendments in a written manner, according to § 37:2-37.
Following § 37:2-36, the contract becomes effective only after the civil union is registered. The prenup agreement is enforceable without consideration. If the couple decides to break up before the marriage, the document becomes void.
Though the statutes list these situations, the court will decide whether the prenups are unconscionable depending on circumstances and evidence.
Although agreements may outline the alimony and spousal support policies, the signatories do not get a legal right to establish guardianship appointments, visitations procedure, and child custody terms. Any guardian-related arrangements will be declined and deemed ineffective. If the civil unit ends in divorce or other legal separation, the court will designate persons to supervise and support minors.
The contents and subjects to New Jersey prenup contracts are introduced in § 37:2-34 and express the following statements:
New Jersey statutes do not provide specific recommendations towards property type management. Potential spouses should outline the terms of managing the estate, separate, and community assets individually.