Protect Your Assets with a Pre-Nuptial Agreement
Keep your future self safe in the event of a divorce.
Pre-Nups Aren’t Just for Second Marriages
It’s often assumed that pre-nuptial agreements are only useful for wealthy individuals or those entering second marriages. While pre-nups are important in those cases, they are also beneficial for anyone looking to safeguard their property. Pre-nups give both partners a clear understanding of which properties they would like to keep separate if a divorce occurs.
Pre-Nuptial Agreements Can Grant You Peace of Mind
Pre-nups save you both money and time. Evaluating and dividing marital property during a divorce adds extra legal fees that can be lessened or avoided by the existence of a pre-nup. If you or your partner has assets, such as a business or inheritance, having a pre-nup will keep those protected. Any debts and future earnings can be included in your pre-nuptial agreement, giving you further peace of mind as you enter marriage.
The pre-nup process can also help clarify you and your partner’s financial rights and responsibilities during marriage, allowing you to better understand how you will manage your finances in your upcoming shared life.
Is a Pre-Nup Right for You?
Pre-nuptial agreements can be helpful for any couple, but are especially so when one or both of you have significant assets or prior financial obligations, such as children from a previous relationship.
If you’re in Colorado and unsure whether a pre-nup is the right decision for you, contact us, and we’ll be happy to discuss it with you.
People who might benefit from a pre-nuptial agreement include:
Business Owners
If you own part or all of a business, it can be useful to safeguard it from division. A pre-nup protects your assets and keeps you from adding the extra cost of a business valuation during a divorce.
Individuals with Prior Debt
If you or your partner have previous debt, such as student loans, a pre-nup can help protect the other person from having to pay those debts in the case of a divorce.
Inheritors
In Colorado, inheritance is considered separate property, meaning it cannot be divided during a divorce. However, any increase in value is marital property, making it easy to commingle assets and make the entire amount divisible by the court. If you have received, or anticipate receiving, an inheritance, you may want to consider a pre-nuptial agreement.
Those Entering Subsequent Marriages
When you die, your spouse has inheritance rights. If you have children from a previous marriage, you can ensure that any intended inheritance is protected and given to them. A pre-nup can also help you and your spouse set expectations for how spousal support payments are fulfilled.
Trust Beneficiaries
If you are the beneficiary of a trust, part of your interest may be considered marital property. You can avoid expensive and complex trust valuations by excluding your trust interest as marital property in a pre-nup.
Consider a Post-Nuptial Agreement to Protect Your Assets
Even if you’re already married, you can still protect your assets by signing a post-nuptial agreement. This document is especially useful if you and your spouse have started a business together, so your portion is protected in the case of divorce.
One Accord Legal can guide you through the post-nuptial process, so you and your spouse can decide how to split your assets appropriately.
How to Begin the Pre-Nup or Post-Nup Process with One Accord Legal
Step 1
Schedule a Consultation
Tell us about your and your partner’s assets, and we’ll discuss if a pre-nuptial or post-nuptial agreement is the right option for you.
Step 2
Receive a Clear Plan
We will help you and your partner decide which assets and provisions should be included in the agreement, so that it is drawn up clearly and fairly.
Step 3
Move Towards Resolution
In Colorado, it is required for pre-nups and post-nups to be written and signed to be considered legal. In the case of a pre-nup, it’s important to do this before you have signed your marriage license.
One Accord Legal Gives You Clarity
At One Accord Legal, we walk you through each step of the pre-nuptial agreement process. Our clients appreciate our simple and clear language that allows them to fully understand and participate in the contract they are drafting. We work to see you protected and empowered to make decisions for your future.
