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A solid prenuptial agreement should be thorough; not heartless

In reality, even though marriage is supposed to be the happily ever after, it frequently ends in divorce. In order to emerge as financially intact as possible after divorce, it is recommended that the intended partners draft a solid prenuptial agreement. Colorado residents may discover that these contracts serve an invaluable purpose should a marriage dissolve.

Many people mistakenly associate a prenup with those who have considerable wealth at stake. However, even if an individual does not possess significant assets, a prenup can protect each partner from the other's debt obligations. Even if only one spouse carries a student loan burden, these are often distributed to the divorcing spouses in order to arrive at an equitable settlement. A carefully crafted marital contract can provide piece of mind that one will be protected from financial obligations contracted solely by the other party.

When choosing to enter into a marital agreement, it is important that each spouse be forthcoming about all assets, earnings and debt. Concealing any of these aspects could lead to a prenup being declared invalid. Along with including all financial information, each spouse is encouraged to consult with a professional to ensure that the proposed terms meet all state laws and are not grossly unfair to the other party. 

The best time to engage in the drafting of a prenuptial agreement is in the immediate aftermath of the accepted proposal. A frank discussion with the intended spouse over the division of assets, if a marriage does not last, can provide an opportunity to discover whether the two parties can calmly compromise and discuss important points without resorting to harsh or punitive terms. Colorado residents who are considering whether a marital contract is warranted for their situation, may benefit from consulting with an experienced family law attorney who can create a document that best meets their particular needs.

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