A Premarital Agreement is a legal contract that outlines how a couple’s assets and debts will be divided in the event of divorce or death. In New Jersey, the enforcement of Premarital Agreement laws is strict, ensuring that couples have a clear understanding of their rights and responsibilities.
The enforcement of Premarital Agreements laws in New Jersey has been subject to various debates and criticisms. While proponents argue that such Agreements provide certainty and protection to couples entering into marriage, there are five basic objections that undermine the effectiveness and fairness of this legal framework.
Firstly, Premarital Agreements often lack and financial disclosure, leading to an inequality of bargaining power. In many cases, one party may not fully understand the consequences of the Agreement or may not be coerced into signing it. This compromises the voluntariness and fairness of the Agreement.
Secondly, Premarital Agreements can perpetuate gender inequalities. Traditional gender roles often result in women assuming more domestic responsibilities, and Premarital Agreements can reinforce this inequality by limiting their financial security in case of divorce. This can lead to an unfair distribution of assets and maintenance.
Finally, Premarital Agreements often limit the ability of courts to consider changing circumstances in the future. Circumstances such as child custody, health issues, or changes in income may
Significantly impact the fairness of the Agreement, yet these factors are often restricted from being considered during enforcement.
If you are looking for additional details on this topic or if you require advice about your situation, please contact Fredrick P. Niemann, Esq. toll-free at (855) 376-5291 or email him at fniemann@hnlawfirm.com. Please ask us about our video conferencing or telephone consultations if you are unable to come to our office.
By Fredrick P. Niemann, Esq. of Hanlon Niemann & Wright, a Freehold Township, Monmouth County, New Jersey Estate Planning Attorney by Way of a Premarital Agreement Attorney