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Pre-Nuptial Agreements in Colorado Springs

Tuesday, 20 April 2010

blog-logoIf you are planning to marry in Colorado, a Colorado Springs family attorney can help you draft a pre-nuptial agreement that will allow you to a marriage with a document that protects your financial interests.  While this may not be considered the most “romantic” thing to do while planning a wedding, it is something every couple should consider.

Anyone who has heard the horror stories of contested divorce, or knows someone who lost a lot of money to an ex-spouse who prevailed in court will tell you – “get a pre-nuptial agreement!”  Even if it hurts your fiancé’s feelings, in many cases it can be a deal breaker.  For example, if you have a Colorado Springs -based family business, a large investment portfolio or other significant assets in your possession at the time of marriage, you would not want to lose this wealth if your marriage were to end in divorce.  A pre-nuptial agreement can protect you from future losses, but it can also limit the amount of spousal support or alimony your spouse can receive. 

 

One way to look at pre-nups is the same way one would look at an insurance policy.  For example, most Colorado Springs residents wouldn’t think twice about purchasing homeowners insurance or car insurance to protect their most precious assets from theft, fire or damage. There is always some risk that something unfortunate could happen, so you are smart to buy a plan that will prevent financial ruin.  The same thing is true with marriage.  No one expects a marriage to end in divorce, but with a divorce rate of 50% it is always a possibility.  Having a document in place to protect you from loss isn’t unromantic; it is just the smart thing to do. 

If you’re thinking about asking your future spouse to sign a pre-nuptial agreement, be sure that each of you has legal representation before signing it.  Sometimes these agreements can be thrown out of court unless both parties have representation by separate legal counsel.   A Colorado Springs family attorney can help you develop a legally binding agreement that protects all of your assets, but you must each be fully aware of what you are signing.

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