Prenuptial Agreements for University students.

[ewintjen]

Jurisdiction

Connecticut

Me and my fiance are both in university we want to get married and we were wondering if it was possible to create a prenuptial agreement that would keep our finances separate until we complete our education and have stable careers, so that our tuition payments and financial aid will not be affected or complicated. We want to avoid limiting any other types of unity that the marriage would bring

 

[army judge]

Me and my fiance are both in university we want to get married and we were wondering if it was possible to create a prenuptial agreement that would keep our finances separate until we complete our education and have stable careers, so that our tuition payments and financial aid will not be affected or complicated. We want to avoid limiting any other types of unity that the marriage would bring

Anything is possible, but all too often not achievable.

I suggest you each hire your own attorney and instruct the attorney to draft a "prenup".

After several iterations you might have created a "prenup" agreeable to both of you.

Whatever you do, don't pursue this as a collaborative project, or as a DIY project.

If co-mingled finances concern you both today, perhaps marriage isn't your cup of tea.

The best "prenup" is not to get married, or live together.

If you remain independent singles, your finances will be protected.

 

[ewintjen]

Anything is possible, but all too often not achievable.

I suggest you each hire your own attorney and instruct the attorney to draft a "prenup".

After several iterations you might have created a "prenup" agreeable to both of you.

Whatever you do, don't pursue this as a collaborative project, or as a DIY project.

If co-mingled finances concern you both today, perhaps marriage isn't your cup of tea.

The best "prenup" is not to get married, or live together.

If you remain independent singles, your finances will be protected.

Would our finances mingling even affect financial aid? Our main issue is that I have a large sum of money saved that will pay for my college and a down payment on a house, not enough to pay for both of our educations, so we are simply worried that if we are "Sharing" that money that she will lose financial aid that she requires to pay for school. If so would it be possible to simply keep these accounts separate so that that money is not considered hers and there for would not change her financial means. My only income is the interest on that account, she works part time.

 

[army judge]

I suggest YOU do nothing until you've graduated.
YOU are the one with the most to lose.
Don't complicate your life.
Remain friends, if you can, but forget trying to protect something of value to you.

She has little to lose, much to gain, at YOUR expense.

Your education could prove invaluable.

Why risk emotional entanglements which could involve your livelihood and ability to graduate?

Yeah, she might decide to move on, so what?

You'll still be sitting on YOUR pile of money.
You'll still be matriculating and forging ahead towards your degree.

For all you know, she/he/it might only be after your loot anyway.

 

[ElleMD]

Yes, if you are married it will be taken into consideration for financial aid purposes. You may create an agreement between yourselves as to who is responsible for paying what bills, and handle your bank accounts and such as you see fit, but you can not create an agreement which binds another party; either the school or any sources of financial aid. You are still subject to the terms those sources of aid set forth, be they federal loans, grants, 529 accounts, or private scholarships.

If you are planning to marry, it would be in your best interest to speak with an attorney and financial advisor first. Most universities even have legal services available to students, as well as financial aid advisors who can at least help guide you on the paying for college aspects.