If you plan to marry soon, consider the benefits of a prenuptial agreement in Fairfield. Taking the time before marriage to openly discuss financial issues and set expectations offers numerous long-term benefits.
If you decide to explore a prenuptial agreement, contact our firm for assistance. Our experienced prenuptial agreements attorneys can help you negotiate and draft an agreement, or we can review an agreement you are already considering.
Couples considering marriage should understand how the law will treat their property if they do not have a prenuptial agreement (prenup). In contrast to most other states, Connecticut General Statutes §46b-81 empowers a judge to divide any property either spouse owns at the time the couple separates. There is no legal distinction between property one spouse owned before the marriage and property acquired afterward.
A spouse is not guaranteed to leave a marriage with the property they brought into it unless a prenuptial agreement designates that property as separate. Individuals who own a home, investment property, or hold significant assets in a brokerage account or retirement plan should account for the possibility that their spouse will receive a share upon divorce.
Prenups may be valuable even when neither fiancé has substantial assets at the time of marriage. A couple can use a prenup to decide how they will handle inheritances they might receive during the marriage, how they will manage living expenses and debts, and whether either spouse should get alimony after the marriage ends. A Fairfield attorney can review a fiancé’s financial situation and advise them if a prenup is right for them.
A prenuptial agreement is not valid without full financial disclosure from both parties before signing. Although the disclosure process may feel uncomfortable, it plays a critical role. In addition to meeting legal requirements, it prompts honest discussions about financial history and future expectations.
One benefit of a prenuptial agreement in Fairfield is that it allows both fiancés to create terms they consider fair based on their circumstances. Each party should consult their own attorney and have enough time before the wedding to review and negotiate the agreement. A prenup ensures both parties retain agency in the process.
A prenuptial agreement can reduce financial concerns and prevent future resentment. It allows a fiancé to designate specific personal property as separate, ensuring it remains outside the scope of property division in a divorce. When substantial family assets are involved, a well-drafted prenup may also provide reassurance to other family members as they welcome a new spouse into the family.
No one wants to believe that their marriage may end in divorce. However, almost half of first marriages fail, and the percentage is higher for subsequent marriages. Investing some time and having potentially uncomfortable prenup negotiations can pay off if a couple eventually decides to divorce.
The couple has far less to sort out if they have already structured their property division agreement. If they have no children or agree on custody and child support issues, they may apply for an uncontested divorce, which will save substantial time and legal fees.
If a couple’s financial circumstances change significantly, a prenuptial agreement that no longer reflects a fair arrangement may be subject to legal challenge. Divorcing spouses in Fairfield should consult an attorney to review the agreement and determine whether renegotiating a property settlement is appropriate given the current circumstances.
Marriage is not just an emotional connection, it is also a financial partnership. Both parties should enter the marriage with realistic expectations based on honest disclosures.
One of the primary benefits of prenuptial agreements in Fairfield is that they provide the framework for the financial aspects of marriage to proceed smoothly. Contact us today to learn more about prenuptial agreements during a complimentary consultation.
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