Prenuptial Agreements
David M. Wildstein: A Trusted Advocate for Justice
Creating a prenuptial agreement before getting married is an effective way to safeguard your assets and financial interests. In the unfortunate event of a divorce, a prenup agreement protects your premarital assets and can ensure that your property is considered exempt from equitable distribution. In addition, a prenup can address various other considerations and clarify the rights and obligations of each party.
Family Lawyer David M. Wildstein is widely recognized as a New Jersey Prenuptial Agreement expert. He believes prenup agreements are like an insurance policy to protect a marriage against the risk of a future divorce. Could you benefit from a prenup contract?
What Is a Prenuptial Agreement?
Prenuptial agreements are contracts signed by parties before marriage that address all or some issues that could be addressed in the event of a divorce, such as the right to receive alimony and the division of assets acquired during the marriage, including real estate, investments, bank accounts, businesses, and retirement accounts.
A prenuptial agreement can also address issues involving a surviving spouse’s rights in the event of death. Under New Jersey law, a surviving spouse has a right to assert an “Elective Share”of 1/3 of the deceased spouse’s estate even if the spouses’s will provides otherwise. The Prenup will supercede the terms of the deceased spouse’s will.
A prenuptial agreement can also provide for an agreed-upon sum paid from a deceased party’s estate. Sometimes, the prenuptial agreement may even provide a substantial gift upon marriage.
Why David Wildstein Recommends Prenuptial Agreements
Family Lawyer David Wildstein has spent a 40+-year career litigating financial issues between spouses. In many instances, the relationship between the parties that once loved each other becomes one of anger, hostility, and acrimony. The legal fees are often disproportionate to the results obtained.
Litigation can be emotionally and financially draining and take years, particularly if either party files an appeal from the court’s decision. It becomes even more protracted if the Appellate Court sends the case back to the trial court for further findings of facts and conclusions of law.
Because 50% of first marriages end in divorce and 65% of second marriages fail, a prenuptial agreement is the solution:
- Avoids protracted litigation.
- It creates the certainty of a resolution of legal issues.
- It avoids the substantial legal fees and emotional pain of a divorce proceeding.
- Allows for a smooth succession of business ownership by exempting the business asset from equitable distribution.
Although a prenuptial agreement may be considered unromantic, it is a practical solution to avoid the risks of a contested divorce.
Benefits of Prenuptial Agreements
When people buy life, medical, and car insurance, they are insuring against the risk that may occur. Why shouldn’t parties to a marriage insure against the risk of a future divorce proceeding? Why should you have a prenuptial agreement?
- It’s like an insurance policy that protects you, the children of a prior relationship, and business associates in advance of a traumatic event: divorce or the death of a spouse.
- Assuming the agreement is valid and enforceable, the parties will avoid the financial and emotional burdens of protracted litigation if no prenuptial agreement existed.
- A prenuptial agreement will allow the parties to be architects of creative solutions to resolve future issues that a court may be reluctant to grant.
- The negotiations leading to a prenuptial agreement may reveal another side to your intended spouse’s behavior (reasonable, fair-minded or in-flexible, overreaching, intransient, tenacious).
- It will allow the parties to address complex issues that may arise during the marriage, particularly if either party has children from a prior relationship, such as rights upon death and intrusion into assets and finances by third parties.
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.