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Law Offices of Doug Wells Greenwich Connecticut Law Offices of Doug Wells Greenwich Connecticut

35 Mason Street, 3rd Floor, Greenwich CT 06830

203-622-4455

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How a Prenuptial Agreement Can Help You

Fairfield County Family Law Attorney

In decades past, Connecticut residents and others looked upon prenuptial agreements as documents reserved only for the extremely wealthy, to prevent asset loss pursuant to the property division laws in connection with a future divorce. Today, however, prenuptial agreements, also known as antenuptial or premarital agreements, have proven themselves useful in many other situations.

Modern premarital agreements can be used in many ways and for many things, including the following:

  • To establish spousal responsibilities: A prenuptial agreement can assign responsibilities for alimony, payment of expenses and protection from debts during the marriage, can calculate, limit or eliminate spousal support after a divorce, and can serve to protect retirement and pension plans earned prior to and during the marriage. It can also provide certainty for both spouses regarding their financial responsibilities to each other, and can help to avoid expensive divorce litigation.
  • To assist with estate planning wishes: More and more couples remarry at later stages in life when children by a prior marriage are grown and have their own families. Accordingly, adult children and even grandchildren may have hopes of receiving certain treasured family heirlooms. Parents may have promised certain assets to their adult children. A remarriage at this point could get in the way of such promises or hopes and can be a source of generational conflict.

Couples can choose to outline specific estate plans designed to provide for their children in prenuptial agreements. This can be a valuable way to honor prior promises and bring families together by eliminating future conflicts.

  • To keep a business running: When a business owner gets divorced, the entire business could be at risk. Employees may be concerned about their jobs and customer or client satisfaction could suffer. When a prenuptial agreement can properly designate a business as separate from marital assets, the business can continue to function optimally even in the face of the divorce of its owner.

People wishing to implement a prenuptial agreement should work with the right legal professionals to ensure the document is valid, enforceable and clearly written. Factors such as the timing of an agreements creation relative to the marriage, full financial disclosure of premarital assets and income, and independent legal representation for each party can directly impact the validity and enforceability of an agreement.

Engaged couples should talk openly about these issues and consider an agreement well in advance of their wedding date. To learn more, contact attorney Douglas Wells. At an initial consultation, you can obtain more information about prenuptial agreements and how you should proceed.

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