A contract that is designed for people about to be married is called a prenuptial agreement or prenup for short. The contract usually lists the property each person owns, each person’s debts, and then it specifies what the person’s property rights are once the individuals are married. Prenups specify how the marital property will be divided in the event of a divorce or how the couple wants to distribute the property if one of them dies. The latter option is useful for second marriages if the spouse wants to preserve property for children or grandchildren. If a prenup does not exist, the state determines how property is divided, and property you own prior to marriage may be divided if divorce or death of a spouse occurs.
Marriage is considered a contract between two individuals and certain property rights are automatic when individuals are married. Without a prenup, the spouse usually has the right to:
- Share ownership of property acquired during the marriage with the idea that the property will be divided equally in the event of a divorce.
- Incur debts with the understanding that one spouse may have to pay for the debts incurred by the other spouse.
- Manage the marital property with the shared right to sell or give away property.
If you think that these marital laws may not protect your property in a way that you would like once you are married, then a prenuptial or ‘prenup’ agreement may be what you need. The prenuptial agreement will give you more control over how your property is handled in any given situation including marriage and divorce. If you and your spouse are considering a prenuptial agreement, contact the Rotolo Karch Law attorneys to discuss your options.
Victor A. Rotolo has been included on the List of New Jersey Super Lawyers in the years 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014, 2015, 2016 and 2017, marking his twelfth year of inclusion on this list. The list of New Jersey Super Lawyers is generated by the Thomson Reuters organization which employs the following methodology and set of standards to compile the list each year. Super Lawyers Selection Methodology [No aspect of this advertisement has been approved by the Supreme Court.]
Victor A. Rotolo is certified by the Supreme Court of New Jersey as a Civil Trial Attorney.
"A certified attorney is more than just an attorney who specializes in a particular area of law. A New Jersey attorney who is certified by the Supreme Court as a civil trial attorney must have:
- been a member in good standing of the New Jersey bar for over 5 years
- demonstrated a substantial level of experience in civil trial law
- been favorably evaluated by other attorneys and judges familiar with his or her work
- taken and passed a written examination in civil trial law."
Source: Supreme Court of New Jersey, Board on Attorney Certification, Brochure on Certified Civil Trial Attorney. See Rule 1:39: Specialty Certification of Attorneys.
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