Bergen County Prenuptial Lawyers
Safeguarding Your Today and Securing Your Future
No one plans for a potential divorce on their wedding day, but establishing a prenuptial agreement to protect your assets ahead of marriage can provide peace of mind and ease the process should it ever occur.
The number of issues to be negotiated and settled during divorce can be overwhelming and lengthy. Our experienced Bergen County prenup lawyers at TMO Law LLC have 100 years of combined legal experience helping clients protect their assets. We will help you draft a solid plan that will stand up to legal review in the event of a divorce.
What Are the Parts of a Prenuptial Agreement?
The division of property is the most common part of a prenuptial agreement. Examples of property might include real estate or businesses. These issues can be complex and lead to disputes, but a prenuptial agreement will help.
Martial property refers to assets acquired during the marriage, and separate property refers to assets solely owned by either spouse before or during the marriage. In New Jersey, marital property is subject to equitable distribution. Separate property is not subject to equitable distribution, provided it is not commingled with marital assets.
What Cannot Be Included in a Prenuptial Agreement?
New Jersey law prohibits child custody matters from being settled before marriage. While parents can work out a custody agreement as part of a collaborative negotiation process, any child custody issues included in a prenuptial agreement are not legally binding in the eyes of the court.
In addition, prenuptial agreements cannot be unfair to either spouse to stand up to judicial review. New Jersey has broad guidelines that must be followed in all facets of a divorce settlement agreement. While spouses have considerable leeway to work out their solution, that solution must be something a reasonable person would consider fair and equitable.
What Is the Cost of a Prenuptial Agreement?
The costs associated with prenuptial agreements vary, depending on the circumstances and requirements outlined within it, such as:
- Complexity: A more complex prenup will require more in-depth legal work, such as an extensive number of assets, business interests, investments, real estate, and specialized clauses.
- Negotiation and revisions: Issues such as revisions to an existing prenup or additional negotiations between parties can add significant time and work, thereby increasing the overall cost.
- Consultations and reviews: Initial consultations and reviewing the prenup’s financial and legal documents also contribute to time and cost. However, this is a necessary step to ensure the fairness and legality of the agreement.
- Location: Geographical location also tends to impact costs, such as more affluent areas having a higher cost of living and an increased demand for legal services.
- Additional costs: Many fees are associated with the preparation, review, or finalizing of a prenup, such as attorney fees, notary publics, financial advisors, and appraisers, as well as filing fees.
Investing in a well-crafted prenuptial agreement can provide both parties long-term security. If cost is a concern, contact our Bergen County prenup lawyers with any questions. Getting this information beforehand ensures fee transparency and allows you to plan accordingly.