Everyone Should Have a Prenup.

Most people who are not celebrities think of prenuptial agreements as a sign they have no faith in their impending marriage.  The flaw in this belief is that it ignores the reality that 60% of marriages do end in divorce.  I know-  You're in love, you've dated for 6 years, you know each other well enough, neither of you is the vindictive, greedy, selfish type....  I can tell you that every nasty divorce I've litigated started the same way.  You just never know.

If you were about to go skydiving and you knew there was a 60% chance your parachute wouldn't open, would you go?  Would you at least make sure you had a backup parachute?  You're in love and you are going to get married, despite the odds not being in your favor.  The prenup is your backup parachute.

"But we don't have anything anyway," I've heard people say.  But one day, you will.  The law in Colorado states assets and debts are to be divided "equitably" in a divorce.  Note: this does NOT say equally.  What this means to divorcing couples is there is room to argue over "what is a fair way to divide assets?"   And most of the time, the two spouses disagree on what's fair.  What if your soon-to-be-spouse develops a shopping addiction and racks up a $50,000 credit card bill?  That debt will probably be apportioned to you up to 50% - that is, unless you had a well-written prenup. 

What if you marry someone who ends up refusing to work?  You're married for 10, 20 years, you bring in all the income, you've worked your way up the employment ladder to get to where you are, and your spouse refuses to contribute.  Since Colorado is a "no fault" state, you may end up paying maintenance (alimony) for a number of years, because the Court will not take into consideration the spouse's refusal to work.  It's just about the numbers.  A prenup doesn't just protect what you already have - it can protect what you will have, and protect you from unexpected circumstances. 

If you're afraid to approach your fiancee with this idea, consider this:  A well-written prenup is not one-sided, contrary to popular belief.  A prenup should be reviewed by two attorneys - one for each of you, and should protect both parties equally.  It's a contract, and you can put whatever you want in it to make sure both parties believe it's fair.  You can honestly tell your fiancee that the prenup is for both of you.

Don't rule prenups out until you've gotten all the information.  Call Alisha Taibo to talk about how a prenup can work in your particular situation.