People who have decided to marry should consider a prenuptial agreement (prenup). These are legal contracts that formalize the spouses’ understanding of how they will manage their finances and property during the marriage and if they divorce.
Both parties should seek legal advice before signing a prenup. A New Canaan prenuptial agreement lawyer can discuss your goals and draft a document that accomplishes them.
If your fiancé’s attorney has already drafted a proposed agreement, a lawyer at our firm could review it, ensure you understand its implications, and suggest changes if necessary. Call today to schedule an initial consultation with an experienced marital agreements attorney.
Connecticut law does not recognize separate property within a marriage. Whether property was acquired before or during the marriage, it is all subject to marital property distribution.
Many couples enter marriage already owning some property. They may have a home, an interest in a business, or personal property like a car or boat that they want to protect. People marrying later in life may have children and substantial assets.
A prenup allows both parties to designate certain property as separate, allowing them to manage it separately during the marriage and keep it if the couple divorces. A couple can also use a prenup to govern how they will divide their marital property and determine whether one spouse will receive ongoing financial support after a divorce. A New Canaan attorney can offer advice about what to include in a prenuptial agreement in a specific case.
Prenuptial agreements must adhere to several requirements to be enforceable. Prenups must be in writing and signed by both spouses. The agreement must be signed before the wedding, although it does not take effect until the marriage date.
Both parties must consent to the prenup and enter the agreement voluntarily and without duress. In practical terms, consent requires that both parties make full financial disclosures before signing the agreement. Freedom from duress requires sufficient time before the wedding for each party to seek independent legal advice from a New Canaan prenuptial agreement attorney and act on it, if necessary.
Prenuptial agreements cannot be amended or revoked after they are signed. However, a couple who wishes to change a prenup after marriage could create a postnuptial agreement to revoke and replace their initial agreement.
When couples divorce, one side may be unhappy with the prenup’s provisions and seek to challenge them. Assuming that the agreement was executed correctly, challenges are typically based on the provisions of Connecticut General Statutes § 46b-36g, which governs the enforceability of prenups. A New Canaan divorce lawyer will review any prenup to determine whether a challenge is viable.
A prenup might not be enforceable if it lacks financial disclosure or is incomplete or inaccurate. When a spouse has no time or means to seek an independent legal review of the prenup before signing, the court might invalidate all or part of the agreement.
When one spouse applies unreasonable pressure on the other to sign, the other spouse might assert that they did not consent to the agreement voluntarily.
A prenup is also unenforceable if it is unconscionable at the time of signing or at the time of execution, meaning that it is one-sided to the point that it shocks the conscience. Almost all prenups favor one spouse over the other. Still, if a judge determines the prenup is unfair to an unreasonable degree, the judge may invalidate all or part of the agreement.
Even a reasonable agreement could be unconscionable at the time of enforcement if the couple’s circumstances have changed significantly.
All couples can benefit from a prenuptial agreement. Having candid discussions about financial expectations before marriage can prevent many problems if the spouses choose to divorce.
If you are getting married and considering a prenup, speak with a New Canaan prenuptial agreements lawyer. They can draft an agreement that furthers your financial goals or review one that your fiancé’s attorney drafted. Reach out today.
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