Bergen County Postnuptial Agreements Attorney
Maybe you didn’t think you needed a prenuptial agreement, and now you’re having financial disagreements in your marriage. Devising a postnuptial agreement might be in your best interests. The experienced Bergen County postnuptial agreements attorneys at Arons & Solomon, P.A., can help you navigate the process.
How Arons & Solomon Can Help If You’re Thinking of Drafting a Postnuptial Agreement
If you don’t have a prenup, you might want to consider a similar device: a postnup. Studies show that financial disagreements are the strongest predictors of divorce. One way to make sure you’re on the same page about financial matters is to agree in advance on what happens to the assets and liabilities.
You need insightful legal counsel and legal advice if you are considering entering into a marital agreement.
Before you sign a marital agreement, you should talk to a family law attorney with experience with postnuptial agreements.
At Arons & Solomon, P.A., our Bergen County divorce lawyers have 150+ years of combined experience helping clients navigate all types of family law disputes. We understand the importance of a properly-drafted postnup, and we’ll do everything in our power to make sure that your interests are protected.
Expect us to:
- Help you identify what you’d like to achieve by executing a postnup
- Handle negotiations with your spouse and their attorney
- Ensure that the contract complies with New Jersey state law
- Enlist the aid of experts, when necessary, to help both identify and value your marital assets
Contact our Bergen County law offices – conveniently located in Hackensack and Madison – to arrange a time to discuss your postnuptial agreement today. As always, your initial consultation is 100% free.
What Happens if You Don’t Have a Postnuptial Agreement?
New Jersey is an equitable distribution state. This means a court will divide the assets in a way that is fair rather than a way that is strictly equal. The court will divide both assets and debts.
How New Jersey Courts Divide Marital Assets
The court divides marital property, which is property purchased during the marriage. If either spouse enters the marriage with a high net-worth or valuable property that’s later used to acquire marital property, there can be some vehement disagreement over how it should be divided.
If the court decides, the judge may order sentimental family belongings to be sold so that the proceeds can be divided. A valid postnuptial agreement supplants the state’s equitable distribution law in the event of a divorce.
How New Jersey Courts Divide Marital Debt
These factors include, but are not limited to:
- The spouses’ lifestyle during the marriage
- Each party’s premarital income and its present value
- Each party’s financial situation, including their earning capacity and income
- The total debts and obligations of the marriage
- Each party’s personal debt
The court can consider any relevant factors when deciding the fairest way to split debts.
A postnuptial agreement can assign responsibility to each spouse for their respective debts. Maybe one spouse wants to take on debt to finance a business venture or investment. The other spouse simply does not have the means to pay the debt in the event of a divorce. A postnuptial agreement can protect both spouses.
In this way, postnuptial agreements can be used to level the playing field, so to speak, between spouses of different financial positions. They can protect both spouses in that neither spouse will bear the burden of the other spouse’s financial state.
What’s the Difference Between Prenuptial and Postnuptial Agreements?
Both prenuptial and postnuptial agreements are a contract between two spouses (or intended spouses, in the case of the pre-nup). They both address how the parties will handle certain marital issues in the event of a divorce.
Since prenuptial agreements are entered into before the marriage, they usually deal with property owned by the intended spouses. In fact, in New Jersey, each spouse is required to fully disclose all assets. A prenuptial agreement might also address how a spouse will provide for children of prior marriages.
In addition, prenuptial agreements can address any of the following issues:
- Alimony (spousal support)
- Which state’s laws apply to the contract (for spouses with property in multiple states)
- Whether a will or trust should be created to implement the agreement in the event of death
- Ownership of premarital debts (like student loans)
Spouses can even include rights and responsibilities between them in relation to personal matters, as long as they do not violate public policy. Child support and custody cannot be included in a prenuptial agreement.
Maybe you’re considering entering into a postnuptial agreement, but you’re not sure. You probably already realize they come about during the marriage. But what can they do?
They can deal with premarital property, marital property, marital debt, and more.
Postnuptial agreements can set expectations for spousal maintenance. These kinds of agreements often come about in marriages when one spouse delays or sacrifices their career to raise children. Postnuptial agreements can also amend or modify prenuptial agreements.
Drafting Postnups For Spouses Across Bergen County, New Jersey
The family law and divorce attorneys at Arons & Solomon are proud to represent clients all across Bergen County, including:
- Franklin Lakes
- Upper Saddle River
- Old Tappan
- Saddle River
Please don’t hesitate to pick up the phone or connect with us online if you need assistance with your postnuptial agreement or have other family law issues that need to be addressed.
Contact Our Bergen County Postnuptial Agreements Attorney For Assistance
Postnuptial agreements can be tricky. There are certain issues of public policy that must not be violated, even by agreement of spouses. These include things like child custody and support, as well as a few others.
In New Jersey, postnuptial agreements must be fair and equitable at the time someone seeks to have it enforced. Under the best of circumstances, it can be difficult to predict in advance what kind of distribution will be fair and equitable in the future.
However, a skilled Bergen County Postnuptial Agreements attorney at Arons & Solomon, P.A., can discuss your options with you and help you draft a valid, enforceable postnuptial agreement.