Why engaged couples in Colorado should consider signing a prenup
Before marriage, couples should consider signing a premarital agreement to outline how assets will be divided if they were to ever end their marriage.
Couples in Colorado who bring personal or business assets into their marriage can benefit from signing a prenuptial agreement. According to Fox News, these agreements inventory premarital assets so that they remain in the possession of the original owner during the division of property if the marriage were to ever end in divorce. However, these agreements can also outline other specifics unique to a couple’s individual situation, such as how any future children will be raised or where the couple will live.
Bringing up the subject
Although devising a prenuptial agreement can be highly beneficial for many couples, some partners may be hesitant to bring up the idea of drafting one with their future spouse. To ensure the conversation is successful, Entrepreneur states that future spouses should:
- Discuss the need for a prenuptial agreement soon after engagement and well before the date of the wedding
- Decide the terms of the contract together instead of presenting a pre-drafted agreement to their partner
- Be open and honest about why they believe a prenuptial agreement is necessary and explain any experiences or family history that contributed to this belief
Additionally, those who believe that a premarital agreement can benefit their upcoming marriage should listen to any concerns their partner may have with an open mind.
Once the decision to draft a premarital agreement is made, engaged couples should take several steps to ensure that their agreement will be considered valid by a court of law in case they ever decide to dissolve their marriage. First, according to Forbes, couples should ensure that any provisions included in the agreement are not too ridiculous. For example, premarital contracts that require one spouse to keep his or her hair a certain color or for him or her to maintain a certain weight will likely not hold up in court.
Secondly, engaged couples should disclose all of their income and assets before signing a premarital agreement. If one spouse can prove that his or her partner tried to hide income or assets when the contract was signed, this action can be used as a basis for getting the agreement thrown out during divorce.
Third, when signing the prenuptial agreement, both parties should be fully aware of what is included in the contract and not be forced to sign it without full mental capacity. For instance, if a prenuptial agreement is signed while one party is ill or under the influence of drugs, the court may invalidate it during the divorce process.
How an attorney can help
Couples in Colorado should also draft and sign their prenuptial agreement with proper legal representation. If your wedding day is quickly approaching, speak with an attorney to find out how a premarital agreement can protect your best interests.
Keywords: prenuptial, agreement, contract, divorce