Property laws vary from state to state, and confer certain ownership and inheritance rights to a spouse by default.
Prenuptial agreements are contracts, entered into before a couple marries, which specify the ownership of assets and directs the division of property in the event the marriage ends.
The primary purpose for a prenuptial agreement is to designate and protect premarital assets (money and property belonging to each person before the union) and direct the division of marital assets upon separation or death. Evaluating whether a prenuptial agreement is beneficial, and discussing entering into one with your fiancé, can be difficult.
The team at The Mark Law Firm is here to help. We advise and counsel you specifically on issues relating to prenuptial agreements, such as
- Determining the ownership and division of property and award of alimony in case of divorce;
- Separately designating marital community property from pre-marriage property;
- Allocating responsibility for marital debt such as loans, mortgages and credit cards after divorce; and
- Planning the separation of property upon the death of a spouse.
Prenuptial agreements are generally disfavored by courts in the state of New Jersey, so to be enforceable, and must be carefully and skillfully drafted in order to withstand judicial scrutiny if challenged later. Contact The Mark Law Firm to discuss your options. Contact us or call 908-460-8996 to schedule a consultation with our New Jersey team that is experienced in drafting prenuptial agreements.