Is a prenuptial agreement right for you? There are various issues to consider when contemplating entering into these agreements prior to your marriage.
A marriage is a happy occasion, and couples enter marriage with the expectation that their life together will last for ever. No one preparing for such an occasion wishes to contemplate what may occur in the event of a divorce. However, a prenuptial agreement can act like insurance – protection against the unexpected. Many couples choose to prepare a prenup with an understanding that such an agreement can go a long way to minimize pain and difficulty when the unexpected – a divorce – occurs.
There are various nuances to Connecticut law with regard to these matters. In considering a prenup, it may be helpful to ponder the following:
1) Pre-Marital Assets and Debts
You and your future spouse should discuss and evaluate all assets and debts you bring into the marriage. Such assets may include real estate, personal property, automobiles, stocks, and money in savings and checking accounts. Debts may include student loans, credit card debts, and mortgage payments. Connecticut prenuptial agreements require each partner to disclose all assets and debts. When discussing these items, it is important to decide what should happen to these assets and debts in the event of a divorce.
2) Marital Assets and Debts
You and your future spouse should discuss how you will handle finances during the course of your marriage. You should determine how you will budget, save, and spend the money that you will acquire. In addition, you should discuss:
- How you will make decisions regarding finances;
- How you will save for retirement;
- Whether you will have a joint banking account, or whether you will continue to have separate accounts;
- Whether you will each have access to each other’s separate account;
- Who will be responsible for paying bills;
- What will happen to your shared money in the event of a divorce.
3) Career and Education Goals
You and your future spouse should discuss your goals relating to career and education. For example, if you plan on having children, you should discuss whether one spouse will stay home while the other works, and how the stay-at-home spouse will be compensated in the event of a divorce. If one spouse plans on going to school, you should discuss how the education will be financed and who will pay for student loans.
4) Spousal Support
In contemplating the possibility of a divorce, you and your future spouse should determine what amount of spousal support will be paid upon dissolution of the marriage, how such support will be paid, and how long the support should last.
Fairfield County Family Law Attorneys
If you are getting married and have questions about prenuptial agreements, it is vital that you contact a skilled Connecticut lawyer. The family law attorneys at Greenberg & Krieger LLP are dedicated to helping individuals and couples preparing for marriage understand their rights. Our skilled staff will work with you and your future spouse to draft an agreement that is in the best interests of everyone involved. Contact us today to schedule your free consultation.