Now Trending, The Baby Prenup

Every parent, at one point or another, wishes child rearing came with a personalized user manual– complete with tips for optimal performance and troubleshooting solutions. It’s no wonder, then, that some expecting couples are actually beginning to draft parenting contracts, akin to prenuptial agreements, to help them survive the overwhelming venture of raising a family.

Rebecca Onion of Slate magazine recently referred to it as a “pre-pregnancy agreement,” in which she and her husband would settle on certain demands before she bore any children. She argued that in a ”˜spontaneous’ household, “work tends to revert to the less spontaneous person, who is often the person who’s culturally expected to carry it out.” The disparity in domestic responsibilities, she reasoned, would make her resentful and become a consistent source of tension in her marriage.

To “guarantee” family harmony, Onion contemplated an agreement based on very pragmatic requests: 6-7 hours to write every day; getting her husband to cook and grocery shop; and demarcated leisure time that wasn’t spent teaching her husband how to do all his assigned chores. She believed a contract (her husband was expected to sign on the dotted line) would, at the least, give her “a process for discussing issues.”

A framework for decision-making is exactly what Drina Nibbe, a Colorado-based psychotherapist specializing in infant and toddler mental health, envisioned when she developed the Baby Prenupâ„¢ program for expecting parents. Whereas Onion’s proposed agreement addresses only the marital relationship, Nibbe’s is equally concerned with parent-child attachments and nurturing healthy child development. Her parenting contract, therefore, is less a division of household duties and more a statement of shared values, parental functions, communication practices, and self-care needs that aims to foster secure family bonds.

Under Nibbe’s guidance, couples explore positives and negatives from their own childhood, recognize each other’s strengths and weaknesses as potential parents, define child-rearing goals, and agree upon effective methods of discourse. That awareness of their own capabilities, in turn, deters new parents from shutting down or anxiously obsessing over specifics; it also helps pinpoint stress triggers and minimize quarrels once the little one makes an appearance. All these conversations ultimately result in a “commitment document,” a road map of sorts for managing parenting expectations and decreasing familial conflict.

“We put more time into creating a vision and defining values for a company than we do for the most important job of all””raising a child,” Nibbe said. “We need a family mission as well.”

A parenting plan extensively detailing each person’s roles and responsibilities is commonplace amongst divorcing and adoptive couples, but Nibbe feels it’s something that could really benefit all parents. She knows of one never-married couple with a very strained relationship, for instance, who constantly refer to their commitment document to resolve disagreements over the upbringing of their child. The pact works because it steers them towards evaluating their overall parenting vision and away from attacking each other’s shortfalls. Amazingly, Nibbe said the very act of writing down a parenting creed is enough to legitimize the contract and to make it binding in a parent’s eye.

At the end of the day, the objective of a parenting agreement is to serve a child’s overall well-being””whether that means vowing never to repeat the refrains of your own childhood or allocating laundry duty for the next 18 years.

Nibbe’s Baby Prenupâ„¢ classes resume at the Castle Rock Family Enrichment Center this fall; she is also publishing a workbook on the subject, due out early next year. For more information, please visit www.drinanibbellc.com.

Colorado Revises Prenuptial Agreement Laws

Colorado Enacts New Laws Regarding Premarital Agreements.   The new law that was signed by Governor John Hickenlooper enacts the “Uniform Premarital and Marital Agreements Act” (Act).

The new law describes the formation of premarital (prenuptial) ”“ and marital agreements, when such agreements are effective, provisions that are unenforceable in premarital or marital agreements, and when an agreement is enforceable. The law makes changes to the Act with respect to the enforcement of spousal maintenance provisions in a premarital or marital agreement. Under the bill, provisions relating to spousal maintenance are unenforceable if the provisions are unconscionable at the time of enforcement.

The new law also amends a probate provision relating to the waiver of marital rights or obligations to conform to the Act.

The Act applies to premarital or marital agreements signed on or after July 1, 2014.

If you have questions regarding premarital or prenuptial agreement in Colorado, you can contact an attorney at Divorce Matters by calling 720-542-6142.

Why You Should Consider a Prenup

Prenuptial agreements are, quite possibly, the most misunderstood of family law issues. Some think of them as something only for the rich and famous with famously large assets to protect. Others believe a prenuptial agreement highlights trust issues and signals the demise of a relationship before it is even been legally cemented.

In reality, prenuptial agreements are often drafted between the non-famous and not famously rich. In fact, they are typically a sound idea for anyone with even small but independently obtained assets to consider. And with divorce rates approaching 50% in our country, prenuptial agreements may be something you and your spouse-to-be might seriously consider.

Potential inheritance, joint debt, retirement funds, all of these are taken into account when you develop a prenuptial agreement. It is not just a list of this is mine and that is yours but rather a cohesive plan of how you will handle a divorce, should it happen.

Here is a quick list of questions you might ask yourself to see whether or not you might need a prenuptial agreement:

  • Are you an owner or partial owner of a business?
  • Do you have separate assets?
  • Do you have separate debt?
  • Do you have kids, either together or from a previous relationship?
  • Are you in line to receive an inheritance?
  • Do you have assets you would want to protect, such as family heirlooms?
  • Do you anticipate needing to financially support elderly relatives in the future?
  • Does one or the other of you own a house or property?
  • Do you have separate retirement funds?
  • Are you a same-sex couple in a state that does not recognize gay marriage?
  • Are you concerned about your different money-spending or money-saving habits?

Drafting a prenuptial agreement does not mean you are planning for a divorce, as the stigma indicates. Instead, it is a method of protecting yourself just in case the unthinkable happens. With our clients, we liken it to wearing a helmet when you ride your bike. You are not planning to get into an accident, but sometimes life happens, and you want to be protected.

So what are you being protected from?

In Colorado, a divorcing couple’s assets and debts may be considered joint property. The courts will decide an equitable division of both. With a prenuptial agreement, you can decide ahead of time which pre-marriage assets and debts will be considered as individual rather than joint. It may prevent you from having to pay your spouse’s student loans for the next 20 years. Or it may protect your business assets from being divided between the two of you.

Conclusion

Prenuptial agreements are not for everyone. But if you or your partner believe one is in your best interests, based on individually held assets or other factors, speaking with a lawyer about the pros and cons of such a legal document is highly beneficial.

Prenuptial agreements are not an indication that you do not trust someone, and they are not an admission of defeat before the marriage has even begun. Instead, they are an open acknowledgment that life happens, and sometimes things do not go as planned.

Divorce, no matter the circumstances leading up to it, is an emotionally stressful time. A thoughtful, well-crafted prenuptial agreement has the power to protect both of you during what can be a potentially contentious situation.