Postnuptial Agreement Issues in New Jersey
Making a postnuptial agreement is not always an easy process. There can be disagreements and high emotions. When you create a postnuptial agreement, you are thinking about the possibility of your marriage ending in divorce. You may be having very difficult conversations with your spouse when addressing financial issues along with the emotions that can arise from the thought of the marriage ending in divorce.
Fortunately, our firm can help you navigate your postnuptial agreement issues in New Jersey that may arise. Get the legal advice you need from an experienced family law attorney who has your best interests in mind.
Issues that Can Arise When Creating a Postnuptial Agreement
Before heading into the postnuptial agreement process in New Jersey, take a look at the potential issues that could arise.
Problems with Full Disclosure of Assets
If there is no prior existing prenuptial agreement or the prenuptial agreement is very old, a postnuptial agreement will seek to address the division of the spouses’ assets and property. This can be confusing, and care must be taken to fully disclose all assets and property so that the agreement addresses them in detail and will be enforceable in Court. The law requires full and complete disclosure of all assets and property, and a spouse may be reluctant to make these disclosures during the negotiation process. Another issue that may arise is the couple not knowing the full value of their assets. Without knowing the proper value, the spouses may not know exactly what is at stake in negotiating the agreement. The Court may decline to enforce a postnuptial agreement if either, or both, of the parties did not know what was at stake for them before entering into the agreement
Changes in Circumstances
A postnuptial agreement captures the financial state of a couple at the time the agreement is signed. Chances are that the financial situation is going to change in the future. If the postnuptial agreement is going to remain valid and enforceable, the couple needs to update it as their circumstances change. This is an issue that could cause stress in the relationship because it brings the parties back to the negotiation table whenever there is a need to update the agreement and causes the parties to revisit the stress and emotional tension that led to the need for the agreement in the first place.
Inability to Anticipate Future Needs
Most people would need a crystal ball to be able to accurately predict their needs in the future. While a New Jersey postnuptial agreement does attempt to address potential changes in the parties’ needs that may arise in the future, it cannot account for every possible scenario in the future.
Biased Agreements that Favor One Spouse Over the Other
Although postnuptial agreements are required to be fair and equitable to both spouses, the stress that comes with negotiating a postnuptial agreement may lead one spouse or the other to request terms that are not fair to their spouse. Likewise, a spouse may feel pressured by the other spouse to make a decision that they will later regret. This is why the law requires each party to have an independent attorney of their own for negotiating and entering into a postnuptial agreement
Added Tension to the Relationship
Marriages are difficult enough without throwing a complicated postnuptial agreement negotiation into the mix. Two people who are striving to figure out their future in the event of divorce may not be likely to grow closer together when they are negotiating a postnuptial agreement. This is because couples in need of a postnuptial agreement are often already having problems with their marriage. The concept of creating a postnuptial agreement is not necessarily beneficial to the actual marital relationship. It can create issues such as tension, mistrust, and suspicion.
Talk About Postnuptial Agreement Issues with a New Jersey Attorney
Postnuptial agreement issues in New Jersey can often be avoided or mitigated by seeking legal assistance from an experienced family law attorney. An attorney who understands the consequences of creating a problematic postnuptial agreement can guide you toward the best decisions for you in the process.
Schedule your free case evaluation by contacting Moskowitz Law Group today. We have vast experience and expertise with all marital agreements, including postnuptial agreements
