You have car insurance. You have medical insurance. You have homeowners or renters insurance. All of these protect you financially in case of unexpected events.
Why not have marriage insurance, too, to protect you in case of divorce?
That “marriage insurance” is better known as a prenuptial agreement, and many Colorado couples sign such an agreement before they say “I do.” However, many choose not to, thinking either they don’t have any assets to safeguard in case of divorce, or that love will last forever.
But even if you’re young and only have $100 in your checking account, things won’t always be that way. Signing a prenuptial agreement allows a couple to talk about money issues up front, which could set the tone for both your marriage and a potential divorce.
The discussion about how to spend or save money, about debt and even about future alimony can lead to a road map that will define financial goals – a good thing. It also allows to people to talk about difficult, divorce-related money issues while they aren’t in the throes of an emotional divorce. That’s also a good thing.
Some spouses, once they’ve been through the process of a prenuptial agreement, say that the process brought them even closer together. That’s also a good thing.
If you’re dating and getting serious about the possibility of marriage, it can’t hurt to approach the subject of a prenuptial agreement. Your significant other likely will appreciate it down the road. After all, wouldn’t you rather decide your financial future than have a judge decide it in a divorce?
After discussion, when you determine a prenuptial agreement is right for you, it is wise for both parties to have their own legal guidance to help them create a document that protects both of their interests.