What are some common sense tips to use when you negotiate a prenuptial agreement?

HNWElder Law, Estate Administration and Probate

The old saying goes “a little bit older, a little bit wiser.” If your next marriage isn’t your first one, then you have probably learned that marriage is more than romance – it’s finance. You don’t have to be a multimillionaire to consider the benefits of a prenuptial agreement. Think of it as a business arrangement or as an insurance policy to help remove some of the emotional angst of getting remarried. A prenuptial agreement and the earnest discussions that go with it can help ensure the financial well-being of the marriage. Under the laws of New Jersey, the court divides assets based on what it considers a fair distribution. The judge would take into consideration such factors as the length of the marriage, whether there are children born of the marriage, and the couple’s age, health, job skills, the income of the parties, and other factors.

With those facts in mind, it is easy to see why a prenuptial agreement could be one of the best decisions that you make in your life. Here are some tips to successfully deal with some of the thorny issues that surround a prenuptial agreement:

a. Discuss the subject early. The mention of a prenuptial agreement shouldn’t come as a surprise if you and your companion have been open with each other as the relationship became more serious.

b. Ask your attorney at the first meeting what the anticipated charges will be.

c. Hire separate attorneys. To help ensure that a prenuptial agreement will be legally enforceable, both spouses must hire separate lawyers. Use only matrimonial lawyers who are familiar with prenuptial agreements. Moreover, make sure that your lawyer has at least ten years of experience.

d. Make sure the agreement is in writing and ensure that the signing is witnessed by a lawyer.

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