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Offering Protection in the Midst of Divorce
Getting a prenuptial agreement prior to getting married might seem as though you are giving up on your marriage before it ever begins. However, they actually offer great protection for the couples that have them in place. If you’re on the fence about whether or not a prenuptial agreement is right for you and your relationship, consider the following benefits in your decision-making.
Save Time and Money in the Divorce
As mentioned, no one goes into a marriage assuming that it will end in a divorce. However, having a prenuptial agreement in place can actually save the couple that ends up getting a divorce a lot of time and money over the course of the process. In a prenuptial agreement, various marital issues are already agreed upon, making the need to negotiate certain aspects of a settlement agreement unnecessary. With time being saved comes saving money, as paying attorney fees and court costs becomes equally as unneeded with a prenuptial agreement in place.
Protection of Assets
One of the tenets that prenuptial agreements are famous for is their ability to protect certain assets for both parties in the event of a divorce. A prenup can ensure that each person is able to walk away from the divorce with certain assets. Couples going through a high-asset divorce particularly benefit from this provision.
Financial Agreements In Place
Some parties come into marriages with children from previous relationships, and with those children come certain expenses, such as education. A prenuptial agreement can outline what funds are used for those purposes and which party is responsible for them.
Alimony
A prenuptial agreement has the advantage of including alimony payments, if necessary. A couple working through a prenuptial agreement can determine which party would be responsible for alimony, how much is to be paid each month, and how long those payments last.
Working with an Attorney on Key Language
One of the most important steps to take when drafting a prenuptial agreement is to get the language right in order for the agreement to be held up in court. Because of the nature of legal terminology, it’s important to work with an attorney who understands the prenuptial agreement laws of Colorado.
At Law Office of Greg Quimby, P.C., we know how important it is to protect your assets, which is why we are committed to helping you create a prenuptial agreement suitable for your specific needs. To schedule a consultation, call us at (719) 212-4227 or visit us online.