The value of a postnup in the division of assets and property

Photo of attorney Melinda L. Singer

Many marriages in New Jersey are between people who may have already been married before, and they enter into new unions with significant assets already accumulated. If the spouses do not sign prenuptial agreements, the division of assets and property in the event of another divorce could become a contentious affair. Under some circumstances, a postnuptial agreement is recommended to avoid this,

A postnuptial agreement is a legal contract that a married couple signs after the date of their wedding. Although postnups typically deal with financial issues, they can include issues like household chore responsibilities, expectations of faithfulness and more. Postnups are most effective for couples where one or both spouses entered the marriage with significant assets or when one of them expects an inheritance.

One or both spouses can protect their business assets or earnings, which might — without a pre- or postnup — have to be shared with the other spouse after a divorce. A postnup will also be the perfect protection if one spouse starts a new business during the marriage. Furthermore, the interest of children from previous marriages or relationships can be protected by signing a postnup.

Marital agreements are not only valuable tools for the division of assets and property in the event of a divorce but also if one spouse dies. It can prevent disputes between the heirs of the deceased and the surviving spouse. Above all, a postnuptial agreement can give both spouses peace of mind in knowing that their interests are protected. It is essential to have the contract drawn up by an experienced family law attorney to ensure that the postnuptial agreement will hold up in a New Jersey court.

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