Reasons for Obtaining a Prenuptial Agreement

Colorado couples and couples across the nation who are heading toward marriage may want to discuss whether it would be a good idea to obtain a prenuptial agreement. Prenuptial agreements can be particularly useful for individuals who are going into a marriage with property in their own name. Because an increase in this property's value during the marriage may result in the possibility of it becoming marital property, the person holding the property may want to establish whether ownership will remain separate upon entering the marriage. Another consideration to discuss regarding separate premarital property is what will happen if that property is sold during the marriage.

Some individuals may be pushed into obtaining a prenuptial agreement by family members who want to give money to that person. Family members may want a prenuptial agreement to be utilized to ensure that the money they pass on to their kin will not be subject to division in the event of a divorce.

Soon-to-be spouses may also draft agreements regarding the spousal support that one of the parties may be entitled to receive if they divorce. For example, individuals may include a provision stating that alimony will only be required if the couple is married for a certain number of years prior to separation. Before including a spousal support clause in a prenuptial agreement, individuals may want to ask a family law attorney whether such a clause would be consistent with Colorado laws, as some judges may not want to honor alimony agreements.

Individuals may also wish to speak with an attorney about whether they can include provisions in a prenuptial agreement for any future children. Although discussing a prenuptial agreement may seem anti-romantic prior to a marriage, an attorney may help individuals realize the potential benefits of a prenuptial agreement.

Source: The Huffington Post, "Prenuptial Agreements: The Ultimate Symbol of Love?", Justine Borer, August 22, 2014

Tags: Prenuptial agreement, marital property

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