As exciting as it can be for an engaged couple to plan their wedding, there's no denying that it can prove to be an altogether draining experience. That's because there's a venue to select, a guest list to construct, a wedding party to form, a food tasting to attend and a myriad of other tasks to complete.
Perhaps not surprisingly, one task that many betrothed couples here in New Jersey make a point of leaving off their lengthy to-do list of wedding preparations is executing a prenuptial agreement.
While the notion of sitting down to discuss the possibility of a divorce just prior to walking down the aisle is admittedly not the most romantic, it can nevertheless go a long way toward saving the couple time, money and energy in the event they fall into the category of the 50 percent of marriages ending in divorce.
Indeed, prenuptial agreements allow couples, not the state, to decide how their property should be divided and/or how much alimony should be paid in the event their marriage falls apart despite their best efforts.
This establishment of expectations means they won't have to engage in a courtroom battle over these two frequently contentious topics, something that can go a long way toward enabling them to move forward with their lives while also maintaining a civil relationship, something of particular importance if they have children.
As to the idea that a couple doesn't have enough assets to justify the execution of a prenuptial agreement, the reality is that this document is valuable to people from all walks of life.
For instance, even if a couple is just starting out, what if one spouse has a treasured family heirloom with which they are loathe to part, or the other spouse has already invested years into their small business, which is finally starting to see real success?
Having established why it can be beneficial to execute a prenuptial agreement, our next post will take a closer look at some of the requirements that must be met in order for this document to be considered legally binding.
In the meantime, if you have questions about prenuptial agreements, divorce or any other family law issue, consider speaking with a skilled legal professional to learn more.