Getting everything prepared before your marriage can be an exciting time in your life, choosing the right venue, selecting the flowers, what food you’re going to eat, and who your DJ or band will be. But sometimes you may need to sit down with your partner you’re about to marry and discuss a prenuptial agreement before your wedding day. This event in your life can be an exhilarating and stressful one, that’s why we’re going to give you the information you need to know about prenuptial agreements in the state of Colorado.
What is a prenuptial agreement?
A prenuptial agreement is a written contract between a couple prior to marriage that goes over alimony and property division in the event of a divorce or death. If these following events happen to you the prenuptial agreement takes effect immediately after a divorce or death of your partner. This will supersede many of the martial laws that would happen through a divorce. Such as what was agreed upon in the written contract, who receives the property, retirement benefits, savings, and anything else that was included in the prenuptial agreement.
However a premarital agreement cannot determine child custody and how much the financial support will be provided to take care of the children. These issues are handled throughout the divorce trial and will be met by the best interest of the children.
Items that you may want to consider in your prenuptial agreement with your partner before you are married:
- Children’s inheritance from a prior marriage
- Premarital assets
- Premarital business interests
- Asses division in a divorce
- Alimony
- Retirement plans
- Employee benefits
- How property and debts will be settled
- How premarital assets will be treated
Reasons you may want to consider a prenuptial agreement
Prenuptial Agreements may sometimes receive a bad reputation, but can become very useful for all people of different financial situations and every possible stage of your life. You’ll be able to figure out and discuss issues that may arise during a divoce, untimely death, or a major life event. It is a safety net to make sure everything has been sorted out before any of these possible scenarios plays out right in front of you.
If you are planning on drafting a prenuptial agreement with your significant other our team at VanLandingham Law can assist you in creating the document to make sure it is fair and favorable. You’ll want to make sure that your agreement is drafted in the correct way so that it may reduce the likelihood of it being challenged in court. In the state of Colorado, judges can challenge the document if one of the partners did not have any legal representation, did not voluntarily sign the agreement that was made, or if the financial disclosures were not given when the agreement was signed.
Click here if you would like to learn more about Prenuptial Agreements in the state of Colorado. You can also call (720) 727-6563 or fill out a form online for a free consultation.