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Colorado prenuptial agreement has benefits

Many Colorado residents realize that the need for a prenuptial agreement is no longer just for the rich and powerful. In the past, such an agreement was used almost exclusively by the wealthy. A prenuptial agreement was seen as a way to preserve the family name fortune by protecting its assets from being pieced away during a divorce.

However, these days, it has become the smart choice for many couples that made mistakes during a prior marriage. A prenup can ensure the preservation of property until such time when it needs to be separated in the event of a divorce. For instance, no property can be sold prior to divorce without breaking the agreement.

This is decided in advance by having both the future husband and wife lay out a detailed plan regarding how assets are to be divided so that there is no room for interpretation and nothing is left for petty arguments. This is not as unromantic as it may sound. The real difference between a prenup and allowing the court to settle a couple's financial affairs is that, with a prenup in place and properly executed, the couple retains control of the outcome, so both sides may benefit equally in the event of a divorce.

Unfortunately, not all couples can agree whether to have a prenuptial agreement in the first place. Some Colorado couples would rather take their chances and allow the courts to make the decisions if the couple gets a divorce. This is a gamble that fewer couples seem willing to take.

Source: thealternativepress.com, Why a Pre-Nuptial Agreement Makes Sense, Kristen Houghton, Feb. 8, 2014

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