Whether or not you should draft or sign a prenuptial agreement (prenups) depends on your situation, your  needs and your goals for a marriage.

In general, prenups can offer a range of benefits – and not just for those who are extremely wealthy. Below highlights some of the various advantages prenups can provide.

Benefits of Prenups: Who Needs a Prenuptial Agreement?

Should I Create or Sign a Prenuptial Agreement?

Should I Create or Sign a Prenuptial Agreement?

Prenups can be helpful devices for people planning to get married when the following circumstances exist:

  • Differences in wealth – Sometimes someone comes into a marriage with a lot of financial assets that they earned or inherited before the marriage that they may want to keep separate. Prenups can specify which property is to remain separate property through the marriage.
  • One partner is bringing significant debt to the marriage – Just as separate assets can become marital property when couples marry, so too can separate debt become joint debt. So if you want to avoid assuming a partner’s debt when getting married, a prenup can make sure that happens (and that creditors don’t try to come after you later for repayment if the debt goes into default).
  • There are young children from previous marriages – A prenuptial agreement can help define who pays for expenses for children from previous marriages. Here, however, it’s important to note that prenups cannot define how much child support will be paid (in the event of a divorce) if couples share children or choose to have/adopt children in the future. In fact, if child support clauses are part of prenups, those clauses (and potentially the entire prenup) can be declared invalid.
  • At least one partner owns interest at least one business – If even one partner has business interests and (s)he wishes for those interests to remain as separate property, again, a prenup can be invaluable to this end.
  • A need to outline financial responsibilities for the course of the marriage – Although it’s common to think of prenups as defining the division of assets and financial responsibilities in the event of a divorce, it’s important to understand that these agreements can also outline financial obligations for the course of the marriage. For instance, prenups can spell out who is responsible for paying for specific mutual bills, who manages the money, etc.

A final point about prenups: even if you aren’t convinced that you need one or that you should sign one, simply discussing a prenup (and the related issues) with your partner can go a long way to clearing up expectations about financial obligations for the marriage. And that can go very far to setting you and your partner up for success in your married life.

Contact a Denver Divorce Attorney at Katherine Grier, P.C.

Whether you need help devising, reviewing, upholding or refuting a prenup – or you simply need superior representation in an upcoming Colorado divorce, contact the Denver Divorce Attorney at Katherine Grier, P.C. Since 1999, our Denver divorce attorney and her dedicated staff have been helping people successfully resolve their family legal issues.

Call us today at (303) 539-5435 or send us an email via the contact form on this page to set up an initial consultation and find out more about our services and how we can assist you. From offices in Denver, we provide exceptional representation to people throughout the Front Range and the state of Colorado.