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. CNNMoney.com 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.