New Jersey Prenuptial Premarital Agreement with Financial Statements
Amendment to Prenuptial or Premarital Agreement
Financial Statements only in Connection with Prenuptial Premarital Agreement
Revocation of Premarital or Prenuptial Agreement
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The signing party must have full knowledge of the other spouse's property, assets and debts. If it is alleged that the party hid assets from the signing spouse at the time that the prenuptial agreement was created, or that the contract contains falsified financial information, this will void the agreement.
It is important to hire an attorney if you and your future spouse are considering a prenuptial agreement. This will ensure that your agreement complies with the applicable laws and will be valid if ever used. A lawyer will help you avoid costly mistakes that will impact your future.
The agreement was procured by fraud ? a prenup is valid only if it is entered into after full disclosure by both parties as to their income, assets, and liabilities. If one spouse provides the other with information that is not accurate or truthful, the agreement is invalid.
A prenuptial agreement does not cover the following: Child custody or visitation matters. Child support. Alimony in the event of a divorce. Day-to-day household matters. Anything prohibited by the law.
Prenuptial agreements can be invalidated if the terms are so unfair and one-sided that the court would question why the spouse would agree to the agreement in the first place.
Courts may invalidate a prenup that is clearly unfair towards one party or is otherwise unconscionable including, for example, if the agreement imposes undue financial hardship, eliminates or unduly limits child custody following divorce, or imposes marital conditions regarding appearance, sexual acts, or other private
In New Jersey, if you wish to have a valid prenuptial agreement, it will have to meet several standards. Those standards are as follows: The agreement must be in writing. The agreement must be executed before the couple is married.
You and your spouse may draft a postnuptial agreement regardless of the state of your marriage. Plenty of perfectly happy couples draft postnuptial agreements, especially when there is a significant shift in financial circumstances.
In California, individuals can draft their prenups. However, without a legal background, it is easy for the prenuptial agreement to be invalidated. Therefore, it is wise to hire a lawyer to write a prenup as well as making sure you understand the state's Prenuptial Agreement Law and what your options are.
The signing party must have full knowledge of the other spouse's property, assets and debts. If it is alleged that the party hid assets from the signing spouse at the time that the prenuptial agreement was created, or that the contract contains falsified financial information, this will void the agreement.
A prenuptial agreement, also known as a premarital agreement, is a legal document that couples sign before getting married or entering into a civil partnership.
People often opt for a prenuptial agreement to protect their individual assets, set financial expectations, and outline how certain matters will be handled in case of divorce or separation.
Yes, both partners must voluntarily and willingly agree to the terms of the prenuptial agreement for it to be considered valid and enforceable.
While prenuptial agreements primarily focus on financial matters, they can also address other concerns such as property division, spousal support, and even pet custody.
No, in Jersey City, New Jersey, a prenuptial agreement can be prepared and executed without the inclusion of financial statements.
Yes, a prenuptial agreement can be modified or revoked after marriage, but it requires the mutual consent of both spouses and must follow the legal procedures in Jersey City, New Jersey.
Sometimes there are areas of law about which Uniform Acts are written and adopted by the various states. Premarital Agreements is such as area of law. The NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS adopted the final version of the Uniform Premarital Agreement Act in 1983. Since that date, the act, as modified by the various states, has been adopted in the following states: Arizona, Arkansas, California, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Oregon, Rhode Island, South Dakota, Texas, Utah and Virginia. At the heart of the act is the provision which provides that such an agreement is generally valid if it is in writing and it sets forth the factors to consider if the agreement is challenged.
New Jersey Statutes
Short title:
This article shall be known and may be cited as the "Uniform Premarital Agreement Act." Source: New. L. 1988, c. 99, § 1.37:2-31.
Definitions:
As used in this article:
a. "Premarital agreement" means an agreement between prospective spouses
made in contemplation of marriage and to be effective upon marriage;
b. "Property" means an interest, present or future, legal or equitable,
vested or contingent, in real or personal property, including income and
earnings;
c. "Unconscionable premarital agreement" means an agreement, either
due to a lack of property or unemployability:
(1) Which would render a spouse without a means of reasonable support;
(2) Which would make a spouse a public charge; or
(3) Which would provide a standard of living far below that which
was enjoyed before the marriage. Source: New. L. 1988, c. 99, § 1.37:2-32.
Formalities; consideration:
A premarital agreement shall be in writing, with a statement of assets annexed thereto, signed by both parties, and it is enforceable without consideration. Source: New. L. 1988, c. 99, § 1.37:2-33.
Contents of premarital agreement:
Parties to a premarital agreement may contract with respect to:
a. The rights and obligations of each of the parties in any of the property
of either or both of them whenever and wherever acquired or located;
b. The right to buy, sell, use, transfer, exchange, abandon, lease,
consume, expend, assign, create a security interest in, mortgage, encumber,
dispose of, or otherwise manage and control property;
c. The disposition of property upon separation, marital dissolution,
death, or the occurrence or nonoccurrence of any other event;
d. The modification or elimination of spousal support;
e. The making of a will, trust, or other arrangement to carry out
the provisions of the agreement;
f. The ownership rights in and disposition of the death benefit
from a life insurance policy;
g. The choice of law governing the construction of the agreement;
and
h. Any other matter, including their personal rights and obligations,
not in violation of public policy. Source: New. L. 1988, c. 99, §
1.37:2-34.
Premarital agreement not to adversely affect right of child support:
A premarital agreement shall not adversely affect the right of a child to support. Source: New. L. 1988, c. 99, § 1.37:2-35.
When premarital agreement becomes effective:
A premarital agreement becomes effective upon marriage of the parties. Source: New. L. 1988, c. 99, § 1.37:2-36.
Amendment or revocation of premarital agreement:
After marriage of the parties, a premarital agreement may be amended or revoked only by a written agreement signed by the parties, and the amended agreement or revocation is enforceable without consideration. Source: New. L. 1988, c. 99, § 1.37:2-37.
Enforcement of premarital agreement; generally:
The burden of proof to set aside a premarital agreement shall be upon the party alleging the agreement to be unenforceable. A premarital agreement shall not be enforceable if the party seeking to set aside the agreement proves, by clear and convincing evidence, that:
a. The party executed the agreement involuntarily; or
b. The agreement was unconscionable at the time enforcement was
sought; or
c. That party, before execution of the agreement:
(1) Was not provided full and fair disclosure of the earnings, property
and financial obligations of the other party;
(2) Did not voluntarily and expressly waive, in writing, any right
to disclosure of the property or financial obligations of the other party
beyond the disclosure provided;
(3) Did not have, or reasonably could not have had, an adequate
knowledge of the property or financial obligations of the other party;
or
(4) Did not consult with independent legal counsel and did not
voluntarily and expressly waive, in writing, the opportunity to consult
with independent legal counsel.
d. The issue of unconscionability of a premarital agreement shall
be determined by the court as a matter of law. Source: New. L. 1988, c.
99, § 1.37:2-38.
Enforcement of premarital agreement; marriage determined void:
If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result. Source: New.37:2-39.
Construction of article:
This article shall be construed to effectuate its general purpose to make uniform the law with respect to the subject of the article among states enacting the "Uniform Premarital Agreement Act." Source: New. L. 1988, c. 99, § 1.37:2-40.
Application of article:
This article shall apply to premarital agreements executed on and after its effective date. Source: New. L. 1988, c. 99, § 1.37:2-41.
Advantages of premarital agreements for both parties:
Avoiding Litigation Costs
Protecting against Fears of Family Members
Protecting Family Assets
Protecting Business Assets
Protection Against Creditors
Child Custody and Support Guidlines
Predetermined Disposition of Property
To order the form, close this window and click the order icon.
Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.
Sometimes there are areas of law about which Uniform Acts are written and adopted by the various states. Premarital Agreements is such as area of law. The NATIONAL CONFERENCE OF COMMISSIONERS ON UNIFORM STATE LAWS adopted the final version of the Uniform Premarital Agreement Act in 1983. Since that date, the act, as modified by the various states, has been adopted in the following states: Arizona, Arkansas, California, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Maine, Montana, Nebraska, Nevada, New Jersey, New Mexico, North Carolina, North Dakota, Oregon, Rhode Island, South Dakota, Texas, Utah and Virginia. At the heart of the act is the provision which provides that such an agreement is generally valid if it is in writing and it sets forth the factors to consider if the agreement is challenged.
New Jersey Statutes
Short title:
This article shall be known and may be cited as the "Uniform Premarital Agreement Act." Source: New. L. 1988, c. 99, § 1.37:2-31.
Definitions:
As used in this article:
a. "Premarital agreement" means an agreement between prospective spouses
made in contemplation of marriage and to be effective upon marriage;
b. "Property" means an interest, present or future, legal or equitable,
vested or contingent, in real or personal property, including income and
earnings;
c. "Unconscionable premarital agreement" means an agreement, either
due to a lack of property or unemployability:
(1) Which would render a spouse without a means of reasonable support;
(2) Which would make a spouse a public charge; or
(3) Which would provide a standard of living far below that which
was enjoyed before the marriage. Source: New. L. 1988, c. 99, § 1.37:2-32.
Formalities; consideration:
A premarital agreement shall be in writing, with a statement of assets annexed thereto, signed by both parties, and it is enforceable without consideration. Source: New. L. 1988, c. 99, § 1.37:2-33.
Contents of premarital agreement:
Parties to a premarital agreement may contract with respect to:
a. The rights and obligations of each of the parties in any of the property
of either or both of them whenever and wherever acquired or located;
b. The right to buy, sell, use, transfer, exchange, abandon, lease,
consume, expend, assign, create a security interest in, mortgage, encumber,
dispose of, or otherwise manage and control property;
c. The disposition of property upon separation, marital dissolution,
death, or the occurrence or nonoccurrence of any other event;
d. The modification or elimination of spousal support;
e. The making of a will, trust, or other arrangement to carry out
the provisions of the agreement;
f. The ownership rights in and disposition of the death benefit
from a life insurance policy;
g. The choice of law governing the construction of the agreement;
and
h. Any other matter, including their personal rights and obligations,
not in violation of public policy. Source: New. L. 1988, c. 99, §
1.37:2-34.
Premarital agreement not to adversely affect right of child support:
A premarital agreement shall not adversely affect the right of a child to support. Source: New. L. 1988, c. 99, § 1.37:2-35.
When premarital agreement becomes effective:
A premarital agreement becomes effective upon marriage of the parties. Source: New. L. 1988, c. 99, § 1.37:2-36.
Amendment or revocation of premarital agreement:
After marriage of the parties, a premarital agreement may be amended or revoked only by a written agreement signed by the parties, and the amended agreement or revocation is enforceable without consideration. Source: New. L. 1988, c. 99, § 1.37:2-37.
Enforcement of premarital agreement; generally:
The burden of proof to set aside a premarital agreement shall be upon the party alleging the agreement to be unenforceable. A premarital agreement shall not be enforceable if the party seeking to set aside the agreement proves, by clear and convincing evidence, that:
a. The party executed the agreement involuntarily; or
b. The agreement was unconscionable at the time enforcement was
sought; or
c. That party, before execution of the agreement:
(1) Was not provided full and fair disclosure of the earnings, property
and financial obligations of the other party;
(2) Did not voluntarily and expressly waive, in writing, any right
to disclosure of the property or financial obligations of the other party
beyond the disclosure provided;
(3) Did not have, or reasonably could not have had, an adequate
knowledge of the property or financial obligations of the other party;
or
(4) Did not consult with independent legal counsel and did not
voluntarily and expressly waive, in writing, the opportunity to consult
with independent legal counsel.
d. The issue of unconscionability of a premarital agreement shall
be determined by the court as a matter of law. Source: New. L. 1988, c.
99, § 1.37:2-38.
Enforcement of premarital agreement; marriage determined void:
If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result. Source: New.37:2-39.
Construction of article:
This article shall be construed to effectuate its general purpose to make uniform the law with respect to the subject of the article among states enacting the "Uniform Premarital Agreement Act." Source: New. L. 1988, c. 99, § 1.37:2-40.
Application of article:
This article shall apply to premarital agreements executed on and after its effective date. Source: New. L. 1988, c. 99, § 1.37:2-41.
Advantages of premarital agreements for both parties:
Avoiding Litigation Costs
Protecting against Fears of Family Members
Protecting Family Assets
Protecting Business Assets
Protection Against Creditors
Child Custody and Support Guidlines
Predetermined Disposition of Property
To order the form, close this window and click the order icon.
Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.