A Premarital Agreement (also coined a “prenuptial agreement”) is a contract between prospective spouses made in contemplation of marriage. The contract is effective upon marriage. The document must be in writing, signed by both parties. The contract typically contains obligations pertaining to the following:

• The personal rights and obligations of each party
• Property management
• Disposition of property
• Spousal support
• Death benefits
• Governing law

Creating an enforceable and foolproof prenup is impossible without strict adherence to two very important rules. Rule number one is full disclosure. Rule number two is the agreement must not be unconscionable at the time it is sought to be enforced.

The contract must be free of any material omissions or distortions. If a party neglects to list a material asset, debt or resource, the document can be challenged on the assertion of fraud or misrepresentation. Disclosure need not be exact, but it must be complete.

If you would like more information about prenuptial agreements, contact us today at 908.879.9499 to speak to one of our experienced attorneys. Visit us on the web at http://www.iandoliedens.com.