Friday, January 18, 2008

Post-Nuptial Agreements

The New Jersey Family Law blog picks up on the New York Times' article I wrote on here. Post-Nuptial Agreements in New Jersey. Interestingly, New Jersey has the same standards for a post-nuptial agreement as Indiana:

1) There needs to be full disclosure by the parties.
2) Each party must have independent representation by his/her own lawyer.
3) There needs to exist the absence of coercion or duress.
4) The terms must be fair and equitable.
I do not think I can add anything to the explanations given of these requirements, so I won't. Go and read the New Jersey post.

The New York Divorce Report comments on the New Jersey article in Post Nuptial Agreements Popularity Continues, and I think adds something important to this conversation:
While all agreements are subject to attack and there is no certainty that any agreement will be upheld, New York courts encourage parties in a matrimonial setting, to put their affairs in order by written agreement. The terms of a valid martial agreement will be enforced and there is a heavy burden on the party attacking the agreement to show why it should be set aside.
Substitute "Indiana" for "New York" and that paragraph applies here.

One other item came to my attention this past week. published
The checklist: What to do before you launch. This article deals with the starting of a business after marriage. Something I have written about in Got a business and no prenuptial agreement? and Who else cares about your marriage?.
- Draw up a post-nuptial agreement. It may sound as unpleasant as a prenup, but this pre-business contract protects the spouses not only in case of divorce but also from lawsuits and other unforeseen circumstances (debilitating injury, death) that could wipe out family assets. By dividing their personal wealth, couples will also ensure a smooth transfer of ownership should it be necessary.


Anonymous said...

I take the July 09 bar and have a nice job in a firm right now. I want to go out on my own next year, but I do not want my husband to be able to have any interest in my business if we should divorce. We do not have children, nor plan on having any. I put myself through law school and do not want him to be able to obtain spousal support from me if we should divorce. I do want him to be able to keep his house 100% and do not want any interest in it. I know that I need a postnuptial agreement drawn up, but I want to know if it would be unconscionable to have him agree to me never request that I pay him alimony? I will likely always make more money, but our finances are kept separate. I have supported myself the 8 years we have been together and do not think it would be fair for him to be able have a stake in my future income.

Sam Hasler said...

I assume that you are working in an Indiana firm. Unconscionable how? You should be aware that Indiana does not have alimony.