Premarital agreements can provide security

Having a premarital or prenuptial agreement before getting married might be looked upon by some as a lack of trust or even selfishness between partners. However, it can be quite the opposite. It can show that the partners trust each other enough to thoroughly discuss their finances with each other, and it also clearly shows that their marriage is not based on any assets that they might be gaining by the relationship.

The myth that prenuptials are only for the wealthy is also not true. Couples should be willing to thoroughly discuss their assets and financial situations before marriage, especially if they may later be moving to a community property state. Connecticut is not a community property state, but in states that are, all marital property is divided equally between a couple in the event of a divorce.

Many young people are reluctant to consider premarital agreements because it is such an uncomfortable topic to discuss. However, more middle-aged or older people who are considering marriage are opting for these types of agreements before marriage, which makes sense because they have often acquired valuable assets. In addition, some have children from previous marriages and they want to preserve their inheritance. Having a prenuptial agreement in these situations allows a person to marry without the burden of worrying about losing what one has worked hard for.

Some specific situations where those considering marriage might want to ensure they have a premarital agreement might include: owning inherited family heirlooms or a business that has been in the family for years; owning assets that are valuable or have sentimental value; or you will be financially supporting your spouse’s education or training for a lucrative career. Approaching the subject of a prenuptial might be uncomfortable at first, but it is a conversation that you need to have. Also, keep in mind that a prenuptial requires full disclosure of assets to hold up in court should it ever be used.