Divorce is likely the furthest thing from anyone's mind on the day that they marry. Statistics, though, point to the reality that many marriages will not last over the long term. Many professionals urge engaged couples to sign a prenuptial agreement as a means of supporting the marital relationship. Colorado couples who are preparing to wed may benefit from seeking information about how these contracts can protect them.
After news of the marriage between Justin Bieber and Haley Baldwin broke, there has been much speculation over how the couple's assets would be divided in the event their union does not last. A prenuptial agreement affords couples several key advantages, including allowing each to retain his or her separate assets that he or she owned before the marriage. There are several important points that Colorado residents may benefit from if they are considering this type of contract.
In today's society, it is common for individuals to enter into a second or third marriage or to delay one altogether until one is more established in life. Many of these couples may find that a prenuptial agreement is just as important as deciding on where and when to exchange wedding vows. Colorado residents who are contemplating taking this step -- whether or the first time or the fifth-- may choose to seek information concerning how these documents could protect them.
Long before the wedding vows are exchanged, the engaged couple likely works together to ensure that they are in agreement over the major issues they will encounter. However, one important aspect that often gets overlooked is the task of drafting a prenuptial agreement. Though prenups are growing in popularity, many Colorado residents may be unaware of the benefits these documents can provide.
During the 'Great Recession' that began in 2008, members of the millennial generation were significantly impacted. As a result, this generation appears to be more focused on career goals rather than the traditional milestone of marrying and having a family. It may come as no surprise that this generation is more inclined to seek a prenuptial agreement before they decide to marry. Colorado residents who may be interested in these contracts can seek further information.
When one hears discussions concerning a marital agreement, it may be assumed that the parties involved have considerable assets that need protection in the event of a future divorce. However, almost any couple could potentially benefit from having a prenuptial agreement in place before they exchange vows. Colorado residents do not need to be in the top percent of the income bracket in order to consider having such an agreement in place.
Budgeting for a wedding and honeymoon can place a strain on a couple's finances from the beginning. Since the average cost for both can run an estimated $30,000, it may be beneficial to both parties to have a serious discussion about financial goals in the beginning of the relationship. To that end, a prenuptial agreement may provide an opportunity for Colorado residents to discuss how they hope to handle their marital finances.
The decision to propose may seem like the most difficult one in the beginning. However, that may seem easy when it comes time to planning the wedding and handling conversations concerning finances and whether a prenuptial agreement would be appropriate. Colorado residents who are wondering whether this type of contract would be useful may benefit from seeking further information.
At the beginning of many relationships, couples often tend to tread lightly when the conversation turns to money -- especially when one is more financially stable than the other. However, if a marriage is in the plans, then it may be more beneficial to address the issue of a prenuptial agreement early in the planning. Though the idea of discussing this type of contract may be uncomfortable, it is likely that Colorado residents can do so with a little finesse and planning.
For previous generations, prenups were the financial planning tools of the wealthy. They were used primarily to protect inherited wealth, and were written to favor the moneyed spouse at the expense of his or her marital partner. In fact, there were many cases in which parents or grandparents made a prenup a condition of an inheritance. Today, however, millennials in Colorado are rewriting the rules when it comes to creating the perfect prenuptial agreement.