Couples approach marriage with excitement and hope for a lasting union. However, taking steps to protect their financial interests with a prenuptial agreement can be a wise decision. Prenups were once the tools of wealthy spouses looking to guard against potential gold-digging. But nowadays, they can offer valuable benefits for couples in multiple situations.

People in the modern age tend to get married later, often waiting until their 30s. By that time, both spouses-to-be typically have established careers, significant assets and perhaps investments. A prenup can outline how their property will be treated during the marriage and divided in the event of a divorce. This fosters transparency and trust, avoiding financial battles in the future.

A prenup can be advantageous for couples entering second or third marriages. Divorces often leave people soured about sharing finances. A prenup can help such spouses avoid reliving economic stress. It can set terms for alimony and property division, streamlining a subsequent divorce if it occurs.

In addition, previously married couples often have children from their former relationships. A prenup can ensure that inheritances or assets intended for children from prior marriages or relationships are protected.

The Connecticut Premarital Agreement Act sets out specific provisions that can be included in a prenup, namely the following: 

  1. The rights and obligations of each of the parties in any of the property of either or both of them 

  2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign, create a security interest in, mortgage, encumber, dispose of or otherwise manage and control property

  3. The disposition of property upon separation, marital dissolution, death or any other event

  4. The modification or elimination of spousal support

  5. The making of a will, trust or other arrangement to carry out the provisions of the agreement

  6. The ownership rights in and disposition of the death benefit from a life insurance policy

  7. The right of either party as a participant or participant's spouse under a retirement plan

  8. The choice of state or country whose law will govern construction of the agreement

  9. Any other matter, including their personal rights and obligations

Equally important is what a prenup cannot do. The provisions cannot negatively impact a child's right to support. Nor can a prenup limit or eliminate spousal support if doing so would leave a spouse reliant on state assistance. Any specified child custody or visitation arrangements are subject to court approval. Finally, the agreement cannot contain provisions that are illegal or violate public policy.

A prenuptial agreement prepared by an experienced family lawyer can offer valuable security and clarity for people with complex financial situations, children from prior marriages or a desire to avoid future legal battles.

For dependable legal assistance in any Connecticut family law matter, speak with a lawyer at The O’Neil Law Firm in Hartford. Call us at 866-418-7593 or contact us online to schedule a free initial consultation.