One Accord Legal, LLC takes a reasonable, resolute approach to family law matters. If you are looking for creative solutions to bring peace to your family, I would love to speak to you about how to achieve that goal.
Prenups are not just for second marriages. There are many reasons you may need a pre-nuptial agreement.
If you own a business before your marriage, you may want to protect your assets with a prenup. Without a pre-nuptial agreement, you will need a business valuation, which increases the cost of your divorce. You may also have to buy out your spouse from his or her interest in your business. You can avoid these results with a pre-nuptial agreement drafted by an attorney.
Are you starting a business with your spouse? If so, you may want to agree with your spouse on how the business will be split during a divorce. You should consult with an attorney who can help you draft a marital agreement.
In Colorado, inheritance is considered separate property, meaning it cannot be divided during a divorce. However, any increase in value is marital property, making it easy to commingle assets and make the entire amount divisible by the court. If you have received, or anticipate receiving, an inheritance, you may want to consider a pre-nuptial agreement.
If you are the beneficiary of a Trust, part of your interest may be considered marital property. Trust valuations are expensive and complex. You can avoid this by clearly excluding your trust interest as marital property in a valid prenup.
When you die, your spouse has inheritance rights. You may want to ensure that your children receive an inheritance on your death. If so, you should speak to an attorney about a pre-nuptial agreement.
Let's discuss if a pre-nup is right for you. If you decide it is, a pre-nuptial agreement should always be drafted by an attorney, because Colorado courts will invalidate the agreement if it does not satisfy the statutory requirements. Failure to provide a complete picture of your financial condition is just one circumstance that can invalidate a pre-nuptial agreement.