4 Facts About Prenups in Denver Divorce
Prenuptial agreements can provide important protections while defining some key aspects of a couple’s financial relationship, both now and in the future if things should change. Although prenups can be crafted to be unique, it’s crucial to know the following common facts about them if you’re entering into a new prenuptial agreement—or if one will be a factor in an upcoming divorce case.
1. Prenups aren’t just for high-net-worth couples.
There can be several benefits to devising and signing prenups, even when couples aren’t ultra-wealthy. Some situations in which prenups can be useful, regardless of net worth, can include when parties want to:
- Protect business interests
- Make sure certain assets aren’t commingled with marital property or reserve certain assets for children from a prior marriage
- Clearly define spousal support obligations or simplify property division issues if a divorce occurs in the future
- Clarify who will be responsible for the marital debt in the event of a future divorce
Please be aware that couples can enter into post-nuptial agreements, covering these same (and other) matters, if they decide to formalize such terms after getting married.
2. Not all prenuptial agreements are legal.
Several issues could nullify a prenup. Some include failing to fully execute it, coercing a party to sign a prenup, or including “unconscionable” terms in prenups. These agreements may also be void if one party uses some type of fraud to persuade another party to sign the agreement.
When prenups are nullified, it can be up to the courts to decide how the issues of a divorce case will be resolved.
3. Prenups can’t cover child custody.
Colorado family courts generally prioritize a child’s wellbeing and best interests. While parents do have the right to try to work out custody arrangements at the time of their divorce, they are not legally allowed to stipulate future custody arrangements for a potential divorce in a prenup.
The main reason is that children’s needs change, and there’s no way those needs can be fully or accurately assessed when creating a prenup (because those needs have to be evaluated in the present moment, not based on guesses or compromises about the future).
4. It’s best to work with a lawyer when a prenup is involved.
From crafting and reviewing prenups to invoking or fighting them in divorce, an attorney can be critical. In fact, the right lawyer can help you understand if a prenup provides the protection you need and want, when these agreements may fall short, and what your options are when a prenup is involved in your divorce.
Get More Info from a Trusted Denver Divorce Lawyer at McCoy Family Law, LLC
When prenups, divorce, or other family law matters arise, you can rely on a Denver family lawyer at McCoy Family Law, LLC. From mediation and the settlement table to hearings and trial, our team provides fierce advocacy, effective representation, and client-focused service in the pursuit of the best possible outcomes. We’re ready to tell you more about how we can help you protect your rights and interests.
Call 720-741-7442 or contact us online for a confidential consultation and important answers about prenups and/or other family law matters. At McCoy Family Law, LLC, we are proud to be a full-service family and divorce law firm in Denver that is known for first-rate, flexible service, tailored to each client’s unique needs and budget. That means we offer limited legal services, as well as comprehensive counsel in divorce. It also means that you can count on us for superior representation as we do everything we can to help you achieve your goals.