Colorado couples may be reluctant to broach the subject of a prenuptial agreement. They may think that having one may increase the likelihood that they will get a divorce, or they may be concerned that embarrassing financial details may be revealed.
However, prenups are often used to determine how assets are to be allocated if a divorce occurs. Without a prenup in place, the manner in which assets are divided, including those that each party may have obtained while they were single, will be determined by the laws of the state in which they reside.
One important reason for couples to have a prenup is so that the party that has more assets than the other one can protect those assets. If individuals have assets that they accumulated or inherited while they were single and do not have a prenup in place that specifies how those assets are to be handled in a divorce, it is not guaranteed that they will be able to retain those assets. Couples can save themselves significant money and time in the future by taking a little time to address this issue before they marry.
Situations in which one person makes more money than the other person is also an ideal situation for a prenup. For the individuals who are making less than their partner, having a prenup in place that stipulates that they are to be paid alimony if a divorce occurs can help make sure that they are financially secure after their marriage ends. Divorce attorneys may draft prenuptial agreements for clients after negotiating favorable terms regarding alimony and property division.