Premarital agreements are common in New Jersey when people want to protect themselves prior to a marriage. Often, these involve significant assets. While there is a general belief that the agreement will be enforced and adhered to, that is not always the case.
Those who are getting divorced and are either in the position where they have major assets that could be in jeopardy if the premarital agreement is nullified or entered the marriage with fewer assets and believe that it is unfair, should know the law for these agreements.
Key points about premarital agreements and validity
If there is a dispute as to the validity of the premarital agreement, the person who is trying to have it declared unenforceable will have the burden of proof. They need to show that it should not be upheld.
One reason for which the agreement can be deemed unenforceable is if they did not voluntarily agree to it. If, for example, the other person coerced them or issued an ultimatum, such as there would not be a marriage if they did not sign, it could be involuntary.
Another justification for it being nullified is if it is unconscionable. This is a different way of saying unfair. If the person who is claiming it is unfair was not given all of the information as to the other person’s financial situation, this could be a reason the document would be invalid. They can also waive the right to have this disclosure. If they did not do so, this is another reason to invalidate the agreement.
In some cases, a person did not know or could not have known about the property and finances of the other party. If they did not discuss the matter with independent legal counsel or waive that right, these issues can also result in the termination of the agreement.
Qualified professionals experienced in family law can help with a premarital agreement
The court will be tasked with assessing the agreement and deciding on its fairness. This is frequently viewed from the perspective of a person who claims the agreement should not be upheld, but in many instances, the person who entered the marriage with greater assets entered into the agreement in good faith.
For these complicated cases in which there is a significant financial stake, it is essential to have professional assistance. Since a premarital agreement will impact property division, alimony and more, it is vital to have advice immediately, especially in a high-asset divorce.