Several different statutes govern marital agreements. Whether you are considering a prenuptial or postnuptial agreement, you want to understand the process and the legal standards that must be satisfied to have an enforceable contract. Moreover, it is crucial you fully understand the terms of your agreement before signing to avoid running into issues down the road.
Marital agreement laws in Guilford are not always clear. A dedicated marital agreement attorney can ensure you know your rights within a contract.
The Premarital Agreement Act and all Connecticut contract laws apply to marital agreements in Guilford. The parties must provide a comprehensive financial disclosure that is accurate and does not withhold any information relative to their income, assets, debts, or other financial obligations. One party can invalidate parts or an entire marital agreement if the information on a financial statement is incorrect.
Each party must agree voluntarily to the terms of the premarital agreement and have the opportunity to consult with legal counsel. Any arrangements made under coercion or duress violate public policy.
A court enforces marital agreements when the parties dissolve their marriage or when someone has passed away. A probate or family court will implement the terms of a marital agreement in this situation. A party can be held responsible for damages stemming from failure to comply with a marital agreement, resulting in certain cases in the payment of attorney’s fees or other damages.
Property is any asset you own, including real estate, bank accounts, and retirement accounts. Assets that both spouses are entitled to divide in the event of a divorce are considered marital property. In a marriage, anything either spouse owns that is not otherwise set aside as separate property in a marital agreement is considered marital property subject to division. Even if an asset is one party’s name, their spouse has a right to benefit from that property, inherit that property in the event of their spouse’s passing, or receive a portion of that property in the event of a divorce.
The law considers pets to be personal property. In the case of a divorce in Connecticut, the parties need to decide who will keep a family pet, and a marital agreement can indicate whether a pet is intended to be marital or separate property. Judges in Connecticut will not entertain orders for joint custody of a pet.
Personal property settlements are permanent upon divorce finalization. A court does not permit continued disputes over personal property.
Prenuptial agreements—prenups—define separate property as assets within one person’s sole management and control during the course of the marriage that shall remain with that party in the event of a divorce. A spouse cannot benefit from separate property unless the property owner explicitly permits it or there are provisions in the marital agreement awarding certain separate property to the other party in the event of a divorce. Absent such a provision, or a basis to set aside the separate property arrangement, a court will not equitably divide that which has been designated as separate property. A knowledgeable attorney in Guilford can discuss the laws surrounding marital agreements and property rights.
During a marriage, people accrue assets. How individuals draft a marital agreement and define different properties determines each person’s rights to that property. Generally, when there is no prenuptial agreement, both parties can benefit from any assets that accrue during a marriage. When there is a marital agreement, the parties set aside assets as either marital or separate property. A lawyer drafting an agreement will consider each party’s earning capacity, employability, and general net worth when planning a dissolution of assets if a divorce were to happen.
Marital expenses are expenses incurred in consideration of marital property and obligations. The upkeep and payments for a house the parties own together are marital expenses. A marital agreement considers the needs of each spouse and the couple’s marital expenses. A contract can define who will pay and how they will pay for joint marital expenses. Without legal guidance in Guilford, the rules regarding marital agreements and future expenses can be hard to understand.
A legal advocate will ensure you know the implications and operation of your marital agreement. Consulting with an attorney will help you understand what could happen in any situation. These types of contracts can be confusing, but you should not let that keep you from safeguarding your rights. Marital agreement laws in Guilford allow you to protect yourself and your property. Our team of lawyers is ready to assist you. Call now to discuss your options.