What are some of the reasons to consider a prenuptial agreement in Connecticut?
1) The written prenuptial agreement sets forth the financial expectations of each spouse thereby reducing or eliminating one the biggest sources of stress in a marriage – issues relating to finances.
2) Your soon to be spouse has significant debt. The prenup can protect the debt-free spouse from responsibility of the other spouse’s premarital debt.
3) Estate planning purposes. If you have children from another marriage you may want to ensure that the children, rather than your spouse, are awarded certain assets. If you are expecting a sizeable inheritance you may wish to insulate the inheritance from any claim by your spouse as part of a divorce.
4) You have substantial premarital assets that you wish to keep separate from your spouse.
5) You are self employed, own a business with partners or own joint assets with individuals other than your soon to be spouse.
6) You want to protect your retirement plans such as IRA’s, 401k’s and pensions.
7) Divorce litigation is uncertain. You can never be sure how a judge will decide issues concerning alimony, property distribution and other financial considerations. A prenup allows the parties to dictate the terms and conditions of these important issues rather allowing a judge to decide.
8) Divorce litigation is expensive. Sure prenups cost money; but only a fraction of the money a fully contested divorce will cost. It may be financially prudent to pay the upfront cost of a prenup to minimize legal expenses upon divorce.
Please contact me to discuss a prenuptial agreement in Connecticut.