An increasing number of couples in New Jersey are electing to sign prenuptial agreements before they get married. A prenup is a document signed before marriage that helps both parties protect their assets in the event of a divorce. Without a prenup, the divorce can potentially become a long, drawn-out affair that results in people losing their assets to their former spouse.
Why engaged couples should sign a prenup
There are several reasons why couples can benefit from signing prenuptial agreements before marriage. If one or both of the partners comes from a wealthy family, a prenup can help protect their family inheritance in the event of a divorce. Prenups can also help individuals who plan on starting a business with their spouse. If they get divorced after starting the business, their spouse might be entitled to a large share of the business assets unless the prenup states otherwise.
A prenup can also protect the children in the event of a divorce. If an individual has children from a previous marriage, a prenup can prevent their former spouse from getting some of the assets meant for the children. Additionally, a prenup can make the divorce process much shorter. If a prenup was signed before the marriage, it’s much easier to divide up the assets. Without a prenup, a divorce can take months or even years to finally resolve.
What to do in the event of a divorce
Whether they signed prenuptial agreements or not, individuals who are starting the divorce process might find it worthwhile to speak with an attorney. An attorney may help them review their assets and work to negotiate a settlement with the other party. An attorney might also be able to help clients manage other issues, like figuring out child custody, child support payments and visitation rights.