From the New Jersey prenuptial agreement attorneys at the Law Office of Blake W. Rush, here are some of our most frequently asked questions about prenup agreements and their answers:
Q: What is a prenuptial agreement?
A prenuptial agreement, also referred to as a prenup, is a legal contract you and your future spouse agree to sign before legally getting married, stating what exactly will happen to the joint finances and assets in the event of a divorce. The prenuptial agreement will detail the various assets and debts each individual has and then specify each person’s rights to those properties in the event the marriage ends. The prenup will also include any other mutual agreements reflecting your objectives and values about the marriage and possible divorce.
Q: Do I need a prenuptial agreement?
If you are planning to get married, you should consider and talk about getting a prenup. Unfortunately, many marriages end in divorce, and more often than not, they are messy and fueled by anger or sadness. A thoughtfully drafted prenup ahead of the wedding can create a smoother, less complex divorce process if it comes down to it. Getting a prenuptial agreement will be the least fun part of your wedding planning, so discuss and execute one early after the engagement.
Q: Are prenuptial agreements only for the very rich?
No; prenuptial agreements are for any couple planning to get married, regardless of their current wealth status and assets. One of the key parts of a prenup is the detailed instructions for how you both wish your accumulated assets will be divided in the event of divorce or death. Prenups can also list other important decisions, such as seeking mediation and arbitration or an agreement to not seek alimony in the event of separation.
Q: If my fiancé asks me to sign a prenuptial agreement, does it mean they do not trust me?
Many couples reject even the thought of getting a prenup as it kills the romance and excitement surrounding a wedding and could signal a lack of trust or faith in the relationship. Though prenuptial agreements aren’t romantic per se, they can be an important and impactful part of getting ready for marriage. Prenups spark candid conversations about the fiance’s expectations with a life-long commitment that can lead to a strengthened bond ahead of the wedding.
Q: Does a prenuptial agreement mean I won’t get alimony?
You and your future spouse can decide what will be listed in your prenuptial agreement. This can include a guaranteed amount of alimony, alimony for a fixed period of time, or none at all; it’s up to you.
Q: Does my fiancé need a prenuptial agreement attorney too?
It is recommended that each party gets advised by their own prenup attorneys. Each of you should have a thorough understanding of prenups terms and their consequences (if broken) before signing. When you and your future spouse have your individual attorneys, it is easier to guarantee that both of your thoughts and wishes are being addressed during the process.
Contact the Law Office of Blake W. Rush today for a consultation to learn more about prenuptial agreements.
If you are looking to set up a prenuptial agreement with your future spouse, our team can help. Here at the Law Office of Blake W. Rush, we proudly represent our clients with all family law matters throughout New Jersey and Pennsylvania.
Give us a call at (903) 713-9800 or visit our website to contact us and learn more about how we can help you.