Most Connecticut couples marry, with the thought of a prenuptial agreement never crossing their mind. They may think that such an agreement is only for the rich and famous. They may also believe that a prenup is unromantic and therefore dooming their marriage before it even begins. These may be understandable excuses, but what happens when the happy couple divorces in two, five, 10 or even 20 or 30 years down the line? They’ll likely engage in a bitter dispute over money and assets when they could have had everything settled well ahead of time.
Ideally, prenuptial agreements should be discussed before any marriage. Even those in middle class households could benefit from such an agreement. This is because a person may have a home, vehicle or some sort of collectible that he or she would want to protect in the event of a divorce. The same goes for stocks, bonds, retirement plans or even a business that might explode in growth and be worth millions of dollars in a few years’ time. Everyone should perform an inventory of their assets before marriage and determine if these are things they are willing to part with in a split.
There are some situations in which a pre-marital agreement should be seriously considered. If a person owns a sole proprietorship, corporation or family business, a prenup can help protect it so that the other spouse does not get ahold of it in the divorce. Those who are considering a second, third or subsequent marriage should also consider a prenuptial agreement. This document can ensure that children from previous marriages inherit their parent’s assets.
The key is to create a solid legal document that is enforceable in court. If drafted with improper language, a prenuptial agreement may be null and void – not something a couple wants to hear during a divorce. An experienced family law firm can help you understand the benefits of prenuptial agreements and how they can help you in your financial situation.