June 18, 2020
The Hartford Courant State of Marriage Report, What it May Mean for You
The Hartford Courant recently reported on the state of marriage in Connecticut. The report suggests that people entering into presumably long term romantic relationships shouldn’t wait to consider and document what they want to happen if the relationship fails—specifically, by entering into a prenuptial agreement or cohabitation agreement.
As the Courant reported, “The median age for first marriages continues to climb.” Typically older first timers are more independent than those who marry earlier. They may have already begun accumulating wealth or had children from a prior relationship. The romantic relationship may have existed for many years before the couple finally choose to marry. A prenuptial agreement may be especially valuable in all of these situations.
The Courant also reported that while the percentage of adults ages 18 to 34 who were married is declining, the number of people in that age group living with an unmarried partner is on the rise. These people do not have the benefit of the divorce law to guide them if the relationship ends. On the other hand, a cohabitation agreement can provide direction and resolution about a host of important legal and non-legal items including for example:
— how to divide assets and debts
— what to do with the house
— who is responsible for which expense while finances are being untangled
— how is the ending of the relationship communicated to others
— replacing powers of attorney and medical authorizations
— is compensation from one partner to the other appropriate
— dealing with insurances
— as well as custody and child support issues.
If you are about to marry or either considering or already living with someone in a committed romantic partnership outside of marriage, now may be the right time to prepare for the end of the relationship. We can help you.« Back to all news