Premarital agreements are commonly known as prenups. They are contracts that allow a couple to decide how they will divide their property if their marriage ends in death or divorce.
Even when a couple comes into the marriage with little separate property, there are numerous benefits to a prenuptial agreement in Southbury. One of our experienced prenup attorneys can explain why creating this marital contract is a good idea for most couples.
One of the underappreciated benefits of prenuptial agreements is that they require Southbury couples to have open discussions about finances. This helps the couple set reasonable financial expectations for the marriage and develop a healthy comfort level when communicating about money.
Connecticut General Statutes § 46b-36g (a)(3) requires each party to make a full financial disclosure to the other before they sign a prenuptial agreement. This provision ensures that both parties know what they are giving up when they sign a prenuptial agreement.
Compiling and sharing these documents forces the couple to be candid and helps prevent misunderstandings about each other’s financial position. A family law attorney can help someone compile the necessary documents and review their partner’s financial disclosure documents.
Prenuptial agreements are especially useful in Connecticut because of the state’s definition of marital property. In many states, any property a spouse had when they entered the marriage, inherited, or gifted during the marriage remains their separate property.
Connecticut courts consider everything either spouse owns during the breakdown of a marriage to be part of the marital estate and subject to division. A judge can decide what seems fair and equitable under the circumstances.
A prenup allows the couple to exclude property from the marital estate if they wish. Many couples choose to keep property they own when they marry and inheritances they expect to receive in the future as separate property. One benefit of a Southbury attorney is that they can draft a prenuptial agreement segregating property from division as marital property in case of a divorce.
The end of a marriage is a stressful time. Disputes about property division and alimony can increase the emotional temperature and delay divorce proceedings for months.
A prenuptial agreement that addresses property division allows the couple to focus on resolving issues concerning their children, if any. Prenups do not have to resolve alimony, but a prenup that waives alimony or establishes an agreed-upon spousal support arrangement can also greatly ease the divorce proceedings.
It is important for couples to note that a court will not enforce a prenuptial agreement if it is unreasonably one-sided, either when it was signed or when a spouse attempts to enforce it. Divorcing spouses should speak with their Southbury lawyers to determine whether a challenge to the prenuptial agreement could be a viable and beneficial strategy in a specific case.
Marriage is a series of practical decisions. Wise couples will ensure they are on the same page about finances before the wedding.
One of our lawyers can explain the numerous benefits of prenuptial agreements in Southbury. We are ready to help you plan your financial future as a married couple, so get in touch with us today.
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