Many people think that prenuptial agreements are only for wealthy individuals. However, they are useful in a wide variety of situations, including second marriages, individuals with a business or inheritance, or anytime there are assets or debts that a party wants to keep separate. Having a prenup doesn’t mean you are expecting your marriage to fail but that perception can make it difficult to discuss a prenuptial agreement with your fiancé. Before you raise the topic, you should speak to a prenuptial agreements lawyer in Connecticut and consider these issues:
When Should You Talk to Your Fiancé About a Prenuptial Agreement?
It’s best to discuss a prenup well before your wedding date. Waiting until the last minute will only make it more stressful and could have legal implications. Under Connecticut law, a prenup may not be enforceable if there was duress, the party did not have a reasonable opportunity to consult with a lawyer prior to signing it, or he or she was not given fair disclosure of the assets, income, and liabilities of the other party. Your fiancé must have adequate time to hire an attorney, review financial documents, and negotiate the terms of the agreement or you may jeopardize the enforceability of your prenup.
Why Do You Want a Prenuptial Agreement?
Your fiancé may worry that you don’t trust him or her or that you have doubts about the marriage. To address this, you should be prepared to explain why you want an agreement. Are your parents insisting on it to protect family wealth? Do you want to leave an inheritance to your children from a prior marriage? Did you or your family members have bad experiences with divorce?
What Are the Benefits of a Prenuptial Agreement?
Money is a frequent source of marital conflict and a prenuptial agreement can help address that by requiring couples to discuss their personal finances and financial expectations in marriage upfront so they don’t become a problem later. If a conflict does arise or one spouse dies, the agreement helps minimize costly litigation over financial issues.
Importantly, a prenuptial agreement doesn’t just state who gets what property in a divorce. It also addresses the disposition of property in case of legal separation and death. Particularly in the case of second marriages, a prenuptial agreement can also help protect the surviving spouse as well as any children from a first marriage.
Further, the couples can decide their respective rights to buy, sell, transfer, mortgage, encumber, dispose of, or otherwise control and manage property during the marriage.
Finally, the agreement can set forth any rights to spousal support in the event of a divorce.
No one wants to think about divorce before walking down the aisle but a prenup can help put you and your fiancé on a more secure financial footing. If you are considering a prenup, consult an experienced attorney for assistance. Our prenuptial agreement attorneys have extensive experience to suit any situation. Contact us today to schedule a consultation.