The Prenup Goes Social
Engaged couples in throughout Colorado can benefit from taking a fresh look at how prenups can be used.
When a couple is in the throes of planning a wedding, it can be difficult to step back and consider some very practical and even difficult topics. However, this is very important and exactly what Colorado couples should do. Among the challenging discussions to have is whether or not a prenuptial agreement can be beneficial for the marriage.
Before people stop and dismiss the idea, assuming that prenups are only for the rich and famous, some research is advised. Today’s marital contracts have expanded their roles and offer uses beyond what they once did.
What happens in private can become public too quickly
Social media has become a mainstay of many people’s lives today. For most, this is a fun and enjoyable outlet. However, the speed with which a single post can travel through the virtual world and be seen by thousands of people is downright scary.
A partner unhappy that a marriage did not survive can find social media a great outlet for revenge. This can not only cause embarrassment in social circles but has the potential to negatively impact people professionally as well. Imagine a disgruntled spouse making a post that the former partner did not know how to handle money. Now imagine that the former partner is an accountant. All of a sudden the risk for adverse results has increased.
Fox News indicates that a prenuptial agreement can prevent this-or at least clearly stipulate that any such actions would be a violation of a legal contract. This type of violation would also be subject to financial penalties. ABC News reports that some fines can be as high as $50,000 for even just one post. Certainly the goal with a social media prenup is to prevent these situations from arising.
Estate planning for blended families
Many couples getting married today are doing so for the second or even third time. It is not uncommon for these spouses to have children from their prior marriages. This situation naturally brings up concerns about preserving certain assets or heirlooms for children from a certain bloodline.
USA Today notes that in this way, a prenuptial agreement can work to assist couples in remarriages with their overall estate planning.
The process matters greatly
According to Today, the manner in which a prenup is created can make a big difference when the day comes that it may be needed. Contracts that are not developed according to the law can be deemed invalid and of no use to people in the end.
Anyone in Colorado who is interested in a prenuptial agreement should talk to an attorney to learn more.