More and more people are signing premarital agreements, but many still worry that a prenup might increase the chan...Read more
Prenuptial agreements are common and useful tools for determining the terms of a divorce if one should happen. However, they must include a detailed plan for property division and be enforceable. Hire an Aurora Prenuptial Agreement Lawyer to help you draft a prenup to avoid any pitfalls.
Section 14-2-301 of the Colorado Revised Code, the Uniform Premarital and Marital Agreements Act, allows the citizens of the Mile High State to enter into contracts with their soon-to-be and current spouses regarding the marriage. If such a contract is entered into before the marriage, it is called a prenuptial agreement. If entered into during marriage, it is called a postnuptial agreement. Together, these types of agreements are referred to as “marital contracts”, and you should discuss the benefits with an Aurora Family Law Lawyer.
To be valid and enforceable, a Colorado marital contract must be “reasonable.” This means, according to C.R.S. 14-2-309(3), that the contract must include clear wording around any rights being waived (especially giving up alimony, property, taking on extra debt burden, as well as legal rights). Here are a few other key elements the agreement must have:
Colorado also weighs heavily on whether provisions of a marital contract are “unconscionable.” This means, for example:
A postnuptial agreement becomes effective when it is executed (signed by both spouses) unless otherwise specified in the contract. A postnuptial agreement in Colorado, however, is not valid and enforceable if it is executed after either party has filed for divorce or legal separation. A prenuptial agreement becomes effective when the couple marries unless the agreement states otherwise.
Also read: Reasons to Discuss a Prenuptial Agreement
Aside from the fact that about half of all marriages today end in divorce, having a marital contract can protect you in the following ways:
In short, yes. One spouse may give up some of their rights while the other gets access to more than they would otherwise be entitled to. An example might be that a husband will receive one million dollars from the wife in the event of their divorce. The wife does not need to have a similar award for the marital contract to be valid in Colorado.
When it comes to divorce, Colorado is a marital property state instead of a community property one. Assets and debts acquired during the marriage are divided equitably between spouses upon dissolution of marriage, legal separation, or annulment. Marital property can include:
You can and should address how these will be handled in your prenup. Prenuptial agreements typically trump the equitable division of property laws in Colorado. However, if a judge finds the agreement to be unfair or that it wasn’t executed correctly, the prenup will be invalid. If property division wasn’t thoroughly addressed in the prenup, the court will rely on Colorado law as the guiding factor. Many people seek the assistance of experienced Aurora prenuptial agreement lawyers to ensure that their agreement is drafted correctly so that it will be enforceable.
There are specific issues that prenup agreements generally can’t include, such as custody of future children or child support. One of the most crucial matters prenups can include is the division of property. Many times, this issue is the motivation behind creating such an agreement.
Prenuptial agreements usually dictate that some or all of the assets and debts that each spouse brings into the marriage be treated as their own separate assets or obligations. Agreements should also address:
When you work with Aurora prenuptial agreement attorneys to draft a prenup, you can be assured that you are addressing all of the crucial aspects, including the division of property, if your marriage ends in divorce.
A Prenuptial Agreement Lawyer from CNL Law Firm can assist you with any and all family law issues in Colorado, including both postnuptial and prenuptial agreements. Contact us today to set up a free, no-obligation consultation.
Married couples often turn to postnuptial agreements to help secure certain parts of their future if their marriag...Read more
Even if you didn’t sign a prenuptial agreement before getting married, it’s not too late to secure your rights...Read more