Postnuptial Agreement Requirements in New Jersey
After getting married, you and your spouse may decide to create a postnuptial agreement to address important issues that are not covered in a prenuptial agreement. These matters typically have to do with finances and assets. For example, a postnuptial agreement may be made to protect new assets that were acquired by either party during the marriage from being divided in the event of divorce.
To ensure your postnup is valid, you need to know the postnuptial agreement requirements in New Jersey. A family law attorney can explain these requirements in further detail and help you through the process of creating the agreement.
What a Postnuptial Agreement Does
Similar to a prenuptial agreement, a postnuptial agreement provides a predefined framework for how assets and debts will be divided if the marriage ends in divorce. The difference is that postnuptial agreements are created after the couple is married. A postnuptial agreement can make a divorce process less complicated and stressful by essentially settling the divorce in advance.
A postnuptial agreement can also establish expectations for each spouse during the marriage concerning the management of finances and assets acquired during the marriage and protect an inheritance that belongs to children from a previous marriage. In order for a postnuptial agreement to be valid and enforceable in New Jersey, it must meet certain requirements.
Postnuptial Agreement Requirements
Postnuptial agreements in New Jersey require the following:
- The agreement must be in writing and signed by both spouses
- Both spouses must make full financial disclosures before entering into the agreement
- Each spouse must be represented by separate legal counsel
- The parties must enter into the agreement free from any duress or coercion
- The terms of the agreement must be fair and equitable to both spouses
In Writing and Signed by both Spouses
This requirement is self-explanatory. The Court will not enforce verbal postnuptial agreements.
Full Disclosure
At the time that the postnuptial agreement is being negotiated, both spouses must disclosure all of their financial assets, property, and personal financial circumstances. Nothing can be hidden from the other spouse or the other spouse’s attorney. The Court will not enforce the agreement if there has not been full financial disclosures by both parties or if a spouse is discovered to have hidden assets.
Separate Legal Representation
Both spouses must have separate legal representation when negotiating and signing the postnuptial agreement. This helps ensure that the agreement fair and equitable to both spouses and that neither spouse is taking advantage of the other spouse.
No Duress or Coercion
Both spouses must sign the agreement freely and voluntarily, without being pressured or coerced into signing it by the other spouse or any other person.
Fair and Equitable
A postnuptial agreement may not be so one-sided that it would shock the conscience of the Court. The agreement cannot leave one spouse with everything and the other spouse with nothing or effectuate an extremely unequal distribution of assets. The agreement must be fair and reasonably benefit both spouses.
Discuss Postnuptial Agreement Requirements with a New Jersey Attorney
Not meeting the requirements for postnuptial agreements in New Jersey could result in a judge deeming some or all of the agreement invalid and unenforceable. This could have serious consequences in the future.
Ensure you meet all the postnuptial agreement requirements in New Jersey by contacting an experienced family law attorney at Moskowitz Law Group. We can determine whether your agreement is fair and equitable and can help you navigate the postnuptial agreement process.
A postnuptial agreement may be one of the most important and consequential documents you will ever sign. With your future at stake, you need to make sure you are getting it done correctly. We offer free case evaluations to get you started. Do not hesitate to turn to our family law firm for all your needs with marital agreements, including postnuptial agreements.
