Essex County Postnuptial Agreements Lawyer
New Jersey recognizes the principle of equitable distribution when it comes to making property division decisions. This means that while the court will divide assets in a manner that it deems to be fair during divorce proceedings, you might not be satisfied with the result. To prevent surprises during a divorce, many couples choose to draft postnuptial agreements. These contracts are entered into after marriage and clarify each party’s role in the unfortunate event of a divorce.
To discuss the benefits of a postnuptial agreement, speak with an experienced family attorney. An Essex County postnuptial agreements lawyer could help you draft a contract that addresses the needs of you and your spouse.
How Courts Define Marital Property
Any assets that one spouse owned before the marriage are generally considered separate property. Additionally, separate property may include gifts, purchases, business ownership interests, and inherited items.
While they are usually not subject to division during divorce proceedings, a court could deem all or a portion of such items to be marital property in certain cases. For example, an inheritance that was deposited into a joint bank account may be considered joint property. A postnuptial agreement could specify the assets that belong to each party and ensure they will not be divided in the event of a divorce.
Property that a couple acquired during their marriage is considered marital property, and it is generally subject to equitable division during a divorce. If one spouse owned a business before the marriage and continued to run it after their divorce, the amount of appreciation that occurred during the marriage could also be deemed marital property by the court.
This may occur even if the other spouse had no connection to the venture in any manner. Similarly, if one spouse owned a house that became the primary residence of the couple, any increase in its value during the marriage could also be treated as marital property. An Essex County postnuptial agreements attorney could create a contract to assert that any such amounts will be treated as separate property.
Issues Addressed in Post-Nuptial Contracts
Numerous issues must be addressed during the property division process. Among other factors, a postnuptial agreements lawyer in Essex County could help determine:
- Each spouse’s financial situation and earning ability
- Which spouse can afford to take responsibility for marital debts
- How to deal with the family home in the event of a divorce
If a couple signed a postnuptial agreement, potentially contentious issues could be addressed ahead of time, speeding up the divorce process and clarifying each party’s rights and responsibilities.
Let an Essex County Marital Agreement Attorney Help
If your marriage is struggling, you might benefit from contacting an Essex County postnuptial agreements lawyer for legal support and guidance. While creating a postnuptial contract may be a stressful and overwhelming ordeal, an experienced family attorney could help ease any uncertainty that you may have regarding your future.
Having such an agreement in hand may prevent a court battle if you end up getting a divorce. Reach out to a dedicated family attorney today to get the assistance you need.