In recent years, prenuptial agreements have become more common and better accepted by society. According to a recent Wall Street Journal report, attorneys have seen an approximate 63% increase in interest regarding prenuptial agreements. No longer is a prenuptial agreement considered taboo.
Here are some answers to frequently asked questions about prenuptial agreements in Connecticut.
A prenuptial agreement (often referred to simply as a “prenup”) is a legally binding agreement entered by a couple prior to their marriage. The agreement’s contents can cover a variety of areas including the division of property, alimony, and child custody. A prenuptial agreement can be relatively detailed and complex or even minimal in its contents; this all depends on the couple’s decision.
Typically, couples discuss the idea of a prenuptial agreement well in advance of their date of marriage. Early discussions allow for the non-initiating party to overcome the potential “shock value” of the subject while also allowing the couple to agree on the agreement’s contents.
After agreeing to enter into the prenuptial agreement, both should seek and retain separate and independent legal counsel. Although Connecticut law does not require each individual to retain legal counsel, it is highly advisable. An experienced attorney can review the agreement’s contents to ensure its fairness.
A prenuptial agreement goes into effect at the time of signing or at an effective date identified in the agreement. Thereafter, the prenuptial agreement is enforced, as is, unless its validity is later questioned by one of the parties.
In 1995, the Connecticut state legislature enacted the Premarital Agreement Act (PAA). This act set guidelines for determining the validity of a prenuptial agreement entered into in Connecticut. A finder of fact will use the guidelines to identify whether or not the agreement is valid and enforceable. According to the PAA, a prenuptial agreement is not enforceable if one of the spouses can show the following:
The provisions of a prenuptial agreement will be invalidated if the finder of fact determines that the agreement is unenforceable. Connecticut law will then govern the division of property and financial assets.
A prenuptial agreement is something that all couples should consider prior to entering into a marriage. Prenuptial agreements provide individuals with added protection for property, finances, and additional assets. Although prenuptial agreements provide agreement as to the distribution of assets and custody in the event of a divorce, it can also help provide more clarity in areas such as family care and healthcare. The skilled and experienced attorneys at the Law Offices of Piazza, Simmons & Grant, L.L.C. can help you prepare an effective and fair prenuptial agreement. Schedule your initial consultation with us today by calling 203-348-2465 or by sending us an email through our online contact form.