Determining What Is Best For You
The decision to get a prenuptial agreement for your relationship is an important one, yet many who have heard of a prenuptial agreement might be unsure of what having one entails or if having one is the right move for them. Having a prenuptial agreement may be beneficial for couples whose situations may have a greater need for one. Here are some reasons why a prenuptial agreement might benefit your relationship.
Perhaps the most common reason why people get prenuptial agreements is to outline ownership of assets in the event of a divorce. Colorado is an equitable division state, meaning that assets will be divided in a way that is just and fair to both parties. In order to protect certain assets, many people get prenuptial agreements that predetermine which spouse walks away with what assets.
A prenuptial agreement can be used to outline what property will belong to which spouse and can outline both property acquired during the marriage and property acquired by each spouse prior to marriage. The agreement serves as a way of outlining who has the rights to what property, whether it be theirs to begin with or something acquired while together.
Property division does not stop at assets; debt must be divided in a divorce, as well. A prenuptial agreement can serve as a means of assigning debt in the event of a divorce. Perhaps one spouse takes out a loan during the marriage or brings one into it; a prenuptial agreement that outlines what happens to debt can ensure that spouse is responsible for that debt after the divorce.
The point of a prenuptial agreement is to offer protection to both spouses in the event of a divorce. While no one who gets a prenuptial agreement plans on ending their marriage, they can know with a great sense of peace that they will be protected if something does go awry.
Work with a Colorado Family Law Attorney
In order to craft a prenuptial agreement that will hold up in court, you should work with a family law attorney who understands prenuptial agreement laws and will help you make a document that meets your needs. At Law Office of Greg Quimby, P.C., we can sit down with you and help you outline the provisions you need to protect you in the event of divorce.
To learn more or to get started, call us at (719) 212-4227 or visit us online.