Understanding the Benefits of a Prenuptial Agreement
A prenuptial agreement can provide a sense of security and clarity for both parties entering into a marriage. It allows you to protect your individual assets, property, and financial interests in the event of a divorce or separation. Our experienced Boulder prenuptial agreement attorney can help you navigate the complexities of creating a comprehensive and legally enforceable agreement that meets your specific needs.
Benefits of a prenuptial agreement include:
- Protection of premarital assets
- Clarification of financial responsibilities and expectations
- Minimization of potential conflicts in the event of divorce
- Preservation of family inheritance and business interests
- Peace of mind for both parties
By working with our dedicated family law team, you can ensure that your prenuptial agreement is tailored to address your unique circumstances and provide the protection you need for your future.
What You Can Include in a Prenup
Prenups give spouses a chance to outline their expectations for their marriage and decide how matters will be handled should it end prematurely or by death. Our attorney will craft a prenuptial agreement that fits your needs, documenting protocols for how to handle matters such as:
- Debt division
- Employee benefit division
- Guidelines for defining what future assets will qualify as separate and marital property
- How to divide anticipated marital property
- How to divide premarital assets in the event of divorce or death
- Life insurance division in death or divorce
- Retirement plan division
- The right of each spouse to the other’s property
- Whether alimony will be paid, and, if so, how much and for how long
- Whether each spouse will be required to draft a will to carry out the prenup terms on property division and to make sure that your estate is divided the way you want it to be, etc.
What You Can’t Include in a Prenup
Premarital agreements can house a number of important decisions between couples. However, there are still some matters that cannot be answered in a prenup. The inclusion of these topics will render the entire document invalid.
Your premarital agreement cannot decide on child custody or child support. The court reserves the right to make these decisions at the time of the divorce so that they may reflect the child’s best interest at that point. What’s more, with child support, payments are based on the needs of the child as well as the ability of either parent to provide financial assistance. This is again based on the circumstances of your family at the time of separation.
Additionally, prenups cannot violate public policy, detail binding parenting duties, punish a spouse if they elect to initiate a dissolution of marriage, or modify the grounds for divorce in some way.
A prenup can address alimony; however, if the provision is to be totally inequitable at the time of the divorce, that provision will be unenforceable.
When a Prenup Is Unenforceable
Beyond including child support and child custody related decisions, a prenup could be deemed unenforceable if it was signed illegitimately. Prenups are not valid if they:
- Are decidedly unconscionable
- Conceal financial information
- Were signed under duress
- Were signed while one party was prevented from seeking advice from their own independent legal counsel
Common Myths About Prenuptial Agreements Debunked
Many individuals hold misconceptions about prenuptial agreements that can prevent them from considering this essential legal tool. Understanding the truth behind these myths can empower you to make informed decisions about your financial future. Here are some common myths and the realities that dispel them:
- Myth 1: Prenups Are Only for the Wealthy
Reality: Prenuptial agreements can benefit anyone, regardless of income level. They help clarify financial expectations and protect both parties’ interests. - Myth 2: Prenups Are Unromantic
Reality: Discussing a prenup can actually strengthen your relationship by fostering open communication about finances and future goals. - Myth 3: Prenups Are Only for Divorce Planning
Reality: A prenup can also outline financial responsibilities during the marriage, providing clarity and reducing potential conflicts. - Myth 4: Prenups Are Always Enforceable
Reality: While prenuptial agreements are generally enforceable, there are specific conditions that can render them unenforceable, which is why having a knowledgeable attorney is crucial. - Myth 5: It’s Too Late to Get a Prenup After Marriage
Reality: If you missed the opportunity to create a prenup, you can still pursue a postnuptial agreement to outline financial arrangements while married.
At Barre M. Sakol, P.C., we’re here to help you navigate these misconceptions and create a prenuptial agreement tailored to your specific needs. Contact us today to schedule a consultation and take the first step toward securing your financial future.
Professional Assistance Dedicated to Protecting You
Let Barre M. Sakol, P.C. help you check this final task off of your to-do list. While carefully listening to your individual goals, our attorney will apply their 40+ years of experience to carefully draft a document that you feel protects your interests and those of your soon-to-be-spouse. Call us at (720) 999-9506 for more information.
Contact us online or call (720) 999-9506 to start with our Boulder prenuptial agreement lawyer today.
