Prenups are for More than Just the Wealthy
by
Joseph C. Maya on Mar. 11, 2024
Summary: A prenuptial agreement is an agreement between two individuals planning to get married on how property will be distributed on the possibility of their separation. While no one likes to imagine separating at such an exciting time as just before marriage, if you have extensive assets, it must be considered.
Individuals with high wealth and those who are getting married later in life have often accrued a significant number of assets that it would be difficult to part with in the unfortunate event that their marriage did not work out. Entrepreneurs with established businesses could also find it beneficial to protect their enterprise by using a prenuptial agreement to ensure that business assets remain with them in the event of a break up.
For people who have been married before, or who have kids from a previous relationship, prenuptial agreements are much more common because they have already experienced a divorce and know how messy property division and child custody issues can be. Prenuptial agreements are also more common for marriages where one of the parties has inherited or will inherit a large sum of money.
Enforcing a Prenuptial Agreement
When executing such an agreement, an attorney is necessary to complete the process correctly. While courts in Connecticut will enforce a prenuptial agreement, it must meet some very strict guidelines or a court may completely disregard it. Some of these guidelines include full disclosure of assets, a signed document in writing, and for each party to have individual professional representation. Such guidelines ensure fairness and efficiency of the process so no spouse is left in the dark upon divorce.
Maya Murphy P.C. has proudly been included in the 2024 Edition of Best Law Firms®, ranked among the top firms in the nation. In addition, Managing Partner Joseph C. Maya has been selected to The Best Lawyers in America® 2024 for his work in Employment Law and Education Law in Connecticut. Recognition in Best Lawyers® is awarded to firms and attorneys who demonstrate excellence in the industry, and is widely regarded by both clients and legal professionals as a significant honor.
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If you have any questions about employment law or education law in Connecticut, or would like to speak to an attorney about a legal matter, please contact Joseph C. Maya and the other experienced attorneys at Maya Murphy, P.C. at (203) 221-3100 or JMaya@Mayalaw.com to schedule a free initial consultation today.