Couples planning a wedding may want to consider a prenuptial agreement, also called a prenup. If either of you owns significant property, has a child from a previous relationship, or wants to set financial expectations prior to entering a marriage, learn about the benefits of a prenuptial agreement in New Haven.
Speak with the talented prenuptial agreements attorneys at Dolan Divorce Lawyers if you are considering a prenup. An experienced attorney can explain how they work, help you negotiate and draft an agreement, or review one prepared by your partner’s attorney.
One of the most important benefits of a prenup has nothing to do with the actual agreement. The process requires a candid discussion about money matters, including how much each partner has at the time of marriage and how they anticipate making financial decisions in the future.
Many couples marry without ever discussing these issues in depth. This can lead to resentment and disagreements when they have to jointly deal with challenging financial circumstances or make significant spending decisions.
A prenup does not remove or resolve differences about how a couple should handle finances. However, discussing and negotiating a prenup can help articulate those differences and allow couples to address them before they marry. An attorney can advise a New Haven couple about the topics they should discuss as they negotiate a mutually beneficial premarital contract.
Some people still feel there is a stigma around frank discussions of financial matters. Someone may make assumptions about their partner’s financial status, only to learn after marriage that their partner had fewer assets or more debt than they thought.
Connecticut General Statutes § 46b-36g directs that premarital agreements are unenforceable if the parties did not disclose their full assets and liabilities before signing the agreement. This provision ensures that each spouse has a fair understanding of the other’s finances before marriage.
Both partners may find it challenging to prepare their own financial disclosure and understand each other’s. Working with an experienced prenup attorney in New Haven is essential, especially when one partner has complex holdings or the advantage of greater financial experience. A seasoned legal professional can explain the implications of the couple’s disclosures and how they may impact the prenup negotiations.
Prenuptial agreements can make the process much simpler if the marriage breaks down. Connecticut law requires divorcing couples to split their property fairly. This process requires the spouses to identify all the property they each own at the end of the marriage, agree on its value, and divide it fairly.
Prenuptial agreements can save time and expense by designating certain property as separate, excluding it from the property division process. The couple may also agree on how they will divide shared property if the marriage breaks down. Some New Haven couples address alimony in their premarital contract, which can be helpful during divorce when strong emotions often make discussions difficult.
When couples arrange property division before their marriage, they have less to discuss in the event of a divorce. Prenups cannot address child custody or child support. However, if the couple agrees on these matters and the prenup addresses all the relevant property issues, a court could grant an uncontested divorce, which is much faster and requires far less attorney time than a contested divorce. In these cases, a prenup helps avoid unnecessary expenses and allows the couple to obtain their decree promptly.
Prenups may help couples begin their marriage with financial clarity and a realistic attitude. Our attorneys at Dolan Divorce Lawyers PLLC are ready to help you learn about the benefits of a prenuptial agreement in New Haven before your wedding. Reach out to us today to start your prenup process.
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