Monmouth County Prenuptial Agreement Lawyer

Strengthen Your Marriage with a Clear Premarital Agreement in Red Bank, NJ

Although prenuptial agreements are often stigmatized by the public, they can actually help strengthen your relationship. Making a prenuptial agreement requires open and honest communication about things like money and debt. Speaking about such issues can eliminate misunderstandings between you and your spouse that might otherwise cause a rift in your relationship.

Need a prenup? Call the Monmouth County prenuptial agreement lawyers at the Law Office of Steven P. Monaghan, LLC at (732) 624-6343 or reach out online to arrange for your free initial consultation.

What are the Benefits of a Prenuptial Agreement?

A prenuptial agreement is a marital document you make prior to getting married. This legal document details who gets what assets and why in case of divorce.

Prenuptial agreements can be used to:

• Define marital or community property
• Support your estate plan
• Protect the property you had before marriage
• Clarify special agreements or arrangements made between spouses
• Outline procedures and rules for deciding future issues

The biggest benefit of having a prenup is that it essentially establishes the ground-rules for your marriage. It can also decrease future arguments over property and assets, especially when both parties feel that the agreement is fair. Prenuptial and postnuptial agreements can also be used to help make your will. Because your descendants and heirs cannot change the conditions of your agreement, it will ensure that your wishes are followed after you die.

What are the Key Elements of an Enforceable Prenuptial Agreement?

A prenup must be written down, include a statement of assets, and be signed by both spouses when they are not under duress to be considered enforceable.

The prenuptial agreement should address issues such as:

• Rights and obligations towards any real property
• The rights and duties to manage or sell property and mortgages
• How assets will be divided
• The modification terms of alimony payments
• Arrangement for a will or trust
• Issues dealing with life insurance
• Any other obligations

The people who entered into the agreement are free to amend or revoke the premarital agreement at any time during the marriage. In order to revoke or modify a premarital agreement, the people must agree to do so in writing.

What Makes a Prenup Invalid in NJ?

A prenuptial agreement will be considered invalid by the court if:

• It is not in writing;
• It fails to meet New Jersey’s legal standards;
• Assets were not disclosed;
• It was signed under pressure or coercion; or
• It contains unfair claims.

Working with a skilled Monmouth County prenup attorney can help ensure that the agreement is drafted in a way that meets all legal requirements and protects both parties.

It is very important that each party has his or her own attorney review the agreement. The court will consider when and the context in which the parties signed the agreement. If a premarital agreement was signed on the day of the wedding or the days preceding the wedding, the court may find that the agreement was coerced or made under duress.

How Long Does it Take to Get a Prenup in NJ?

The time it takes to create a prenuptial agreement in New Jersey can vary, but typically it takes several weeks to a couple of months to finalize the process. This depends on how quickly both parties provide financial disclosures, negotiate the terms, and review drafts of the agreement.

If both parties are in agreement and the financial situation is relatively straightforward, the process can be completed in a matter of weeks. However, if there are more complicated financial matters, such as business interests, significant assets, or complex debt arrangements, it may take longer.

It's essential to start the process well in advance of the wedding to ensure that the agreement is fully drafted, reviewed, and signed before the marriage takes place.

How Much Does a Prenuptial Agreement Cost in New Jersey?

The cost of a prenuptial agreement in New Jersey can vary depending on several factors, including the complexity of the agreement, the experience of the attorney, and the time required to draft the agreement. Generally, you can expect the cost to range from $1,000 to$3,000 for a straightforward prenup. However, if the agreement involves complex financial matters, significant assets, or business interests, the cost can rise to$5,000 or more.

The price also depends on whether both parties hire separate attorneys or if only one attorney drafts the document. While the cost of a prenuptial agreement may seem high, it can be a valuable investment to protect your financial interests and avoid costly legal disputes in the future.

What Happens If You Don't Have a Prenuptial Agreement?

If you don’t have a prenuptial agreement in place and later divorce, the division of assets and liabilities will be governed by New Jersey’s laws of equitable distribution. This means that the court will divide marital property in a manner that is fair, but not necessarily equal.

Without a prenuptial agreement, you may have less control over how assets and debts are divided, which could lead to costly and lengthy litigation. Additionally, alimony and spousal support may be determined by the court, and you may not have the ability to waive or limit these payments as you could in a prenuptial agreement.

Overall, a prenuptial agreement provides both parties with more certainty and control over their financial futures, whereas a lack of one could result in more uncertainty and potentially contentious legal proceedings.

Do I Need a Lawyer For a Prenup in NJ?

​Drafting your own "marriage contract" has great appeal under all circumstances. But before you do, it is wise to seek legal advice, especially if you acquired assets prior to your marriage or civil union, or if one of the spouses or partners earns a significant income.

While it is not a legal requirement in New Jersey to hire a lawyer for a prenuptial agreement, it is strongly recommended. Having a qualified attorney ensures that the prenup complies with New Jersey’s laws and is enforceable in court. A lawyer can help you and your partner understand your rights and obligations, assist with full disclosure of assets and liabilities, and ensure the agreement is fair to both parties. If both parties have separate attorneys, it also helps avoid any claims of coercion or unfairness.

Secure Your Future: Schedule a Free Prenup Consultation in Monmouth County

The attorneys at the Law Office of Steven P. Monaghan, LLC have over 60 years of combined experience and can assist you in creating a legally solid prenuptial agreement. Our founder, Steven Monaghan, is certified by the Supreme Court of New Jersey as a matrimonial law attorney, so he provides added knowledge in these matters.

If you need a prenuptial agreement drafted or would like to talk to us about one in general, call one of the experienced Monmouth County prenuptial agreement attorneys at the Law Office of Steven P. Monaghan, LLC at (732) 624-6343, or contact us online. Your first consultation is free.