Thinking about getting married in Monmouth County, New Jersey? Considering a prenuptial agreement (prenup)? While the average cost is around $3,500 per person (according to Monmouth County Attorney David Cardamone), prenups can provide valuable protection for both partners.
This guide explores the key benefits of prenups, including clarifying asset division in case of divorce or death, and answers frequently asked questions about their enforceability in Monmouth County.
Understanding prenup costs in Monmouth County, NJ
Let’s be honest: Weddings are expensive, and even the thought of adding legal fees can feel overwhelming. But a prenup is an investment in your future and shouldn’t be skipped to save a few bucks. Here’s what you need to know about the cost:
Factors That Influence Price:
- Complexity: Simple prenups addressing basic requests such as keeping basic assets as separate property.
- Time Investment: More negotiation between partners or revisions = higher lawyer fees. Do you have complex requests and/or finances? That likely equates to more lawyer fees.
- Lawyer’s Experience: Specialized prenup attorneys with a lot of experience often charge more, but their expertise can bring value.
- Method of Prenup Drafting: Are you using a prenup platform like HelloPrenup, or are you going the traditional route of hiring a lawyer? This will affect the cost of the prenup heavily.
Typical Cost Range: We spoke with a Monmouth Prenup Attorney, David Cardamone, who said the average cost of a prenup is $3,500 for each individual, for a total of $7,000 per couple.
Takeaway: Think of a prenup like buying car or home insurance. You hope to never need it, but if a divorce happens, you’ll be glad you invested in a solid prenup to protect your assets.
How to find a good Monmouth County prenup attorney
Getting a prenup is a smart move, but finding the right lawyer to draft it is equally as important. Here’s how to find someone who will protect your interests and ensure your agreement is fair and enforceable:
Specialization Matters:
- Don’t just hire any lawyer – you need a prenup specialist with experience in NJ family law. This ensures they understand the specific requirements for a valid prenup in your state.
Seek Referrals:
- Ask friends, family, or your therapist (if you have one) who they might recommend. Word-of-mouth is often a good starting point. You can also reach out to other professionals, like your financial advisor or accountant, for leads.
Check Reputable Listings:
- Websites like the New Jersey State Bar Association (njsba.com/) or Avvo (avvo.com) offer directories of lawyers specializing in prenups.
Questions to Ask During Consultations:
- How many prenups have you drafted?
- Explain the NJ laws on what can and can’t be in a prenup.
- What is your approach to ensuring fairness for BOTH partners?
- What are your fees and estimated total cost?
Pro tip: You and your partner should EACH have your own lawyer. This avoids conflicts of interest and ensures you both get independent advice.
And don’t forget HelloPrenup offers Monmouth County, NJ, prenup lawyers at discounted, flat rates, too!
Who might benefit from a prenup in Monmouth County?
If you aren’t already convinced, here are some of the ways Monmouth County residents may benefit from a prenup (or anyone for that matter):
- Prior Marriages: A prenup protects assets or commitments from previous relationships and/or prevents losing additional assets in a second divorce.
- Stay-at-home Parent: Parents who decide to forgo their careers to stay home with the family can opt for alimony in a prenup.
- Children from Other Relationships: A prenup ensures your assets go to your children instead of a future ex-spouse.
- Owning a Business: A prenup safeguards your business interests in a divorce.
- Separate Property: A prenup clearly defines what stays yours in the event of a separation. She gets the condo, he gets the car, she gets the bank account, he gets the brokerage account.
What lawyers say: We asked Shrewsbury, NJ, Prenup Attorney David Cardamone what the average Monmouth County resident asks for in their prenup, and he said, “Most people in Monmouth County are focused on addressing the potential payment of alimony and preserving one’s rights to retain pre-marital property.”
What makes a prenup enforceable in Monmouth County?
What are the requirements that make a prenup valid and enforceable in Monmouth County, NJ, you ask? Well, the same requirements are true whether you are in Monmouth County or anywhere else in NJ. Let’s dive into the requirements laid out by New Jersey Section 32-36 of the Revised Married Persons Statute:
Key Requirements Under NJ Law:
- Before the Ceremony: Signed prior to marriage or civil union.
- Written and Notarized: The agreement must be in written form and officially notarized.
- Full Financial Disclosure: Both partners MUST fully declare all assets, income, debts, and inheritances to one another.
- Voluntary Agreement: No one can be pressured or coerced into signing.
- Legal Terms: No illegal or against-policy terms may be included in the prenup.
What makes a prenup unenforceable in Monmouth County?
A prenup in Monmouth County can be considered unenforceable for several reasons, albeit not an easy feat to achieve. Here are some of the ways to get your NJ prenup thrown out:
- Unlawful Terms: Including illegal terms or terms against public policy, such as child support and child custody matters, could put the prenup at risk of being unenforceable.
- Improper Financial Disclosure: Hiding or omitting certain assets/debts/income could lead you straight into the courtroom over the enforceability of a prenup.
- Involuntarily Signed: If either spouse was forced, coerced, tricked, or otherwise pressured into signing the prenup, a court could find it unenforceable.
Important prenup cases in New Jersey
If you’re looking for more tangible examples of how prenups work in NJ, look no further. Below are two pivotal NJ cases that outline how a court treats prenups in there real world. Let’s dig in:
DeLorean v. DeLorean Case: An example of an enforceable prenup
Curious as to how enforcing a prenup in real life works? Look no further than the DeLorean case; while not in Monmouth County, it is still a NJ case that applies to Monmouth County, as well.
Key Facts:
- Wealth Disparity: Mr. DeLorean was significantly wealthier than Mrs. DeLorean at the time of divorce.
- Prenup Provisions: The agreement specified that they would retain separate property.
- Challenge and Outcome: Mrs. DeLorean contested the prenup, but the courts upheld it as enforceable.
Reasons for Enforceability:
- Informed Consent: Mrs. DeLorean had consulted with an attorney before signing and understood the financial implications.
- Voluntary Agreement: She signed the prenup willingly, without coercion.
- Multi-State Property: Even though the prenup involved assets in different states, it was still considered valid.
Marschall v. Marschall Case: The Risk of Incomplete Financial Disclosure
Let’s look at a real NJ prenup case that shows what will make a prenup unenforceable–improper financial disclosure.
Key Facts:
- Background: Both Mr. and Mrs. Marschall were older with grown children from previous marriages.
- Prenup Terms: The agreement aimed to keep income and property separate.
- Hidden Assets: Mr. Marschall had not fully disclosed his finances.
Outcome:
- Prenup Partially Invalidated: Mrs. Marshall proved she lacked full knowledge of his wealth, and was granted lifetime alimony.
- Conditional Alimony: If Mr. Marschall can later prove she was aware of his true finances, he can challenge this decision.
Lesson Learned: Hiding assets will likely invalidate an NJ prenup. Make sure to provide full financial transparency, as it is essential for enforceability.
HelloPrenup has Monmouth County prenup attorneys available for flat rates!
If you are looking for a Monmouth County, NJ, prenup attorney — look no further. While traditional Monmouth Attorneys charge, on average, about $3,500 per person (according to Attorney David Cardamone), that’s not your only option! HelloPrenup offers New Jersey attorneys available for discounted, flat rates. This way, you can get the peace of mind of having legal assistance while not breaking the bank or sacrificing quality.
Co-create your future & protect your ass(ets) with a prenup today!
Julia Rodgers is HelloPrenup’s CEO and Co-Founder. She is a Massachusetts family law attorney and true believer in the value of prenuptial agreements. HelloPrenup was created with the goal of automating the prenup process, making it more collaborative, time efficient and cost effective. Julia believes that a healthy marriage is one in which couples can openly communicate about finances and life goals. You can read more about us here Questions? Reach out to Julia directly at [email protected].
0 Comments