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Is a second marriage and a prenuptial agreement a perfect union?

For many couples in their 20s and 30s, the idea of drafting a marital contract may not rank as a high priority in their wedding plans. However, couples who are preparing for a second marriage may find that a prenuptial agreement is the perfect fit for their needs. Colorado residents who are entering into a marriage later in life often have more assets that they wish to protect in the event of a divorce or death.

Couples who elect to re-marry in their later years have different priorities and concerns than a couple who marries earlier in life. Often, these marriages involve spouses who have children from a previous relationship and have accumulated considerable assets during their lifetimes. In addition, older couples may bring unequal wealth into the marriage that could leave one spouse struggling with financial hardships in the event the marriage does not last.

One of the most significant differences when it comes to a second marriage is what constitutes separate and marital property. Marital property generally consists of the income that spouses each earn during the course of their marriage. Older couples who are nearing retirement age may not have as much time to contribute to the marital assets. This may lead to difficulty in ensuring that both a spouse and adult children can be provided for in the event that one spouse dies or the marriage comes to an end.

One detail that a couple may include in their agreement may stipulate that disputes between a spouse and heirs must be resolved through alternative methods rather than litigation. Some couples may find that the discussion over drafting an equitable contract takes a toll on the relationship before it even gets started. Colorado residents who believe that a prenuptial agreement is an important component of their wedding plans may be best served by consulting with an attorney who routinely handles the negotiation that accompanies these types of marital contracts.

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