Timing Matters In Prenuptial Agreements
Prenuptial agreements can be an important legal tool for many couples entering into marriage. These agreements can allow individuals to outline the division of assets and financial responsibilities in case of divorce, and protect pre-marital assets and inheritance. They can also allow parties greater discretion in estate planning. In New Jersey, as in many other states, the timing of getting a prenuptial agreement is crucial to ensure its enforceability.
In New Jersey, the timing of when a couple discusses and executes a prenuptial agreement can significantly impact its enforceability. Courts generally advise couples to broach the subject well in advance of the wedding, ensuring that neither party feels rushed or pressured into signing. In 2021 the New Jersey Appellate Division in Steele v. Steele, the court dealt with a prenuptial agreement that was signed by the bride seven months after the wedding while she was pregnant with the parties’ child. The timing raised questions about whether this was truly a prenuptial agreement and about the wife's ability to fully comprehend the agreement's implications, leading the court to rule the agreement partially unenforceable.
Transparency is another key aspect of the timing issue. The earlier the parties begin discussing the prenuptial agreement, the more opportunity they have to provide full and accurate financial disclosure. Steele v. Steele highlighted the need for both parties to be fully aware of each other's financial situations prior to signing. In this case, one of the central issues was the husband's failure to disclose certain assets adequately. This lack of transparency not only affected the court's decision regarding the agreement's enforceability but also strained the trust within the marriage itself.
It's important to note that the timing of a prenuptial agreement isn't just about how close it is to the wedding day. Courts consider the overall circumstances leading up to the agreement. If one party presents the agreement just days before the wedding and it's clear that the other party had no real opportunity to seek independent legal counsel or negotiate the terms, the court may view this as coercion. Steele v. Steele demonstrated the court's inclination to protect individuals from entering agreements under duress or undue influence.
To ensure the validity of a prenuptial agreement in New Jersey, couples should not only address the subject well in advance of the wedding but also allow for ample time for negotiation, review, and potential modifications. Seeking independent legal counsel is also strongly recommended to ensure that both parties fully understand the agreement's implications. The Steele v. Steele case serves as a poignant reminder of the significance of proper timing and transparency in prenuptial agreements. By addressing these aspects thoughtfully, couples can protect their interests while also upholding the principles of fairness and equity in their marriages.
For more information or assistance with your Prenuptial Agreement contact Georgia Fraser, Esq of Fraser Family Law Office LLC at 609-223-2099.