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Family law: Children of wealth and prenuptial agreements

On Behalf of | Jun 17, 2019 | Family Law |

Children who are born into wealthy families may need to take extra precautions when the time comes for them to marry. Connecticut family law has the tools for people to ensure their assets are protected, and when it comes to marriage, such tools include prenuptial agreements. No one approaches marriage with divorce in mind, but sometimes, taking precautions might be a wise move.

Young people of wealth might be reticent about prenuptial agreements, and it is often their parents who bring up the subject. If an adult child agrees to having a prenuptial agreement drawn up, he or she will need to make a full disclosure of assets, which may give them a more comprehensive understanding of what’s on the line financially. There may also be a family business involved, which may increase the need for a matrimonial agreement.

If a child won’t agree to a prenuptial agreement, parents can take other measures to protect family wealth, such as creating a trust fund, which includes a prenuptial provision. These can be especially important when wealth passes from one generation to the next. Parents may wish to ensure their grandchildren are taken care of financially.

A Connecticut family law attorney may be able to assist clients who are in these situations. When there is much to lose financially, a lawyer may be able to offer ways to legally protect those finances in the instance of marriage or cohabitation. An attorney may have ways of divorce-proofing an heir’s inheritance, keeping within the letter of the law.