Common Prenup Mistakes in NJ That Can Cost You Later

In this article, you can discover…

• How prenups can prevent conflict later on.
• Common myths about prenups.
• Why you shouldn’t try to draft a prenup on your own.

How Have You Seen Prenups Improve Communication Or Prevent Serious Conflict Later On?

Prenups can definitely clarify expectations and prevent conflict in a marriage. Many people assume that asking the other party to sign a prenup will hurt their feelings. But really, it’s just a simple way to clarify that everything that is yours remains yours, and that everything that is theirs remains theirs. So long as assets are not co-mingled, they remain your separate property.

For example, I’ve been married 26 years and have a baseball collection that I really love. I had it before I was married, and my wife has never added to my baseball collection, nor have I added any cards with marital money. It’s still the collection I had when I was a kid, and it’s premarital. That is the kind of asset you can protect with a prenup.

Be aware that you must list the specific items and assets that you’re identifying as premarital property. List the make, model, and color of the car, the name and author of the books, etc. This will help a judge review the agreement and clearly understand what pre-marital assets are yours and what are your spouse’s.

What Myths Do You Hear Most From Clients About Prenups?

Many clients assume that prenuptial agreements can be broken. That is incorrect. A judge won’t overrule a prenup during a divorce, and it’s a document to take very seriously. You both made an agreement, and it will need to be honored should you divorce.

Nor will a judge amend the terms of a prenup for you. They’re set in stone, and there will be language within the agreement to ensure that both parties sign once they have had enough time to deliberate. This ensures neither party can claim they were conned or tricked into signing the document.

What Typically Goes Wrong When Couples Try To Handle Prenups Informally Or Without Proper Legal Guidance?

If you try to handle drafting a prenup by yourself, you’re likely to miss a key asset that should have been mentioned. It’s important to be technical and careful in how you phrase things, too. Missing the right wording can leave assets up for grabs that you had hoped to protect.

Don’t try to draft a prenup with AI. There are so many nuances that software can get wrong, leaving you with a document that is either too vague or too rigid to be of much use. 15 pages of legalese gibberish won’t hold up in court, so be sure to hire an actual, human attorney to draft and then review the document for you.

Little things like “What happens if one of us wins the lottery?” or “What happens to money either of us inherits?” can also be included. With the right representation on both sides, prenups truly become a win-win document that increases transparency, clarifies matters, and ensures both parties enter a marriage with financial expectations ironed out ahead of time.

Still Have Questions? Ready To Get Started?

For more information on prenup mistakes in NJ, an initial consultation is your next best step. Get the information and legal answers you are seeking by calling (848) 200-7833 today.