Benefits of Prenuptial Agreements

Why Prenuptial Agreements? 

In many instances during a divorce proceeding the relationship between the parties, that once loved each other, becomes ugly, hostile and acrimonious. Often, the legal fees incurred in a contested divorce can be disproportionate to the results obtained. Litigation can be emotionally and financially draining, and may take years to complete. The results are uncertain or unpredictable. The litigation becomes even more protracted and expensive if either party files an appeal after the court renders a decision.

In light of the fact that 50% of first marriages end in divorce and 65% of second marriages fail, a prenuptial agreement is the solution: it avoids the delay of protracted litigations; it creates certainty and predictability to the outcome of a dispute and avoids substantial legal fees and the emotional pain associated with a lengthy and bitter divorce proceeding.

Although a prenuptial agreement may be considered unromantic, it offers a practical solution to avoid the risks and expenses associated with litigation. When people buy life insurance, medical insurance and car insurance, they are insuring risks that may occur in the future. Why shouldn’t parties to a marriage insure the risk of a future divorce by entering into a prenuptial agreement which can provide the following benefits:

1. 1. It will avoid the upset and acrimony related to a contested divorce proceeding.
      
      
   2. The parties can be the architect of their own agreement prior to marriage at a time when they are loving, caring, and non-adversarial.
      
      
   3. Children of a previous marriage or business partners, particularly family businesses, will not be threatened by the claims of a new spouse if the marriage fails.
      
      
   4. A contested divorce can create permanent scars that damages the parties’ future ability to communicate and cooperate with parenting issues involving their children.
      
      
   5. Family and nonfamily members of a business may be upset by the dysfunction and lack of productivity of a business partner involved in a bitter divorce proceeding. Moreover, the business may be disrupted by extensive “discovery” requests for financial documents from the business and the intrusion created by a forensic accountant scrutinizing business records that may be inconsistent with tax returns. The litigation may be further exacerbated if a business partner or employees are subpoenaed to a deposition or trial. Since the marital business must be valued, the parties may significantly disagree as to the value of the business and the percentage of the value that will be awarded to the non-owner spouse to satisfy their claim. A prenuptial agreement can avoid the need to value and distribute the business by awarding assets to the non-owning spouse, in the event of divorce, in lieu of a claim against the business.

A prenuptial agreement is a practical and prudent means to end a marriage with dignity.

New Jersey Prenuptial Agreement Attorney

Attorney David Wildstein recognizes that some clients may be squeamish about entering a prenuptial agreement. He is well-known for listening to his clients, understanding their concerns and fashioning creative solutions. Each prenuptial agreement is unique and reflects the factual circumstances of each party and their individual needs. No two prenuptial contracts are alike.

You can be sure that Mr. Wildstein will educate you and your prospective spouse about the divorce laws of New Jersey and your rights without a prenuptial agreement so you can weigh the benefits or burdens of entering into such an agreement. 

Contact New Jersey Prenuptial Agreement Attorney David M. Wildstein in Red Bank or Woodbridge to schedule a consultation and learn more about how a custom prenuptial agreement can protect your marriage and interests.