Prenuptial Agreements in Colorado
Although prenuptial agreements may not seem like the most romantic aspect of marriage preparation, they can give you peace of mind knowing that you have a secure financial and emotional future. The process of creating a prenuptial agreement helps couples understand their expectations and can strengthen the bond between them.
If you are considering a prenuptial agreement, it is a good idea to work with an experienced Denver family attorney. Our team at Jones Law Firm, PC can make sure that your agreement is drafted correctly, covers the matters most essential to your situation, and is enforceable in court.
Couples thinking about marriage often have questions about prenuptial agreements. Some of these questions we often answer include:
What is a prenuptial agreement?
A prenuptial agreement, also referred to as a “prenup,” is a contract two spouses enter into before marriage to decide how certain issues will be handled in case of divorce or other events. These agreements are put in place to protect both parties and provide clear instructions as to how the property, debts and other features of their marriage will be managed if the two parties get divorced.
Who should get a prenuptial agreement?
Any couple could benefit from a prenuptial agreement because these agreements help couples analyze present circumstances and anticipate and prepare for potential future scenarios. Prenuptial agreements are particularly beneficial for couples who wish to protect assets, reduce conflict, and make rational decisions that could take effect in case of divorce, death, or other emotionally-charged events.
What issues can a prenuptial agreement cover in Colorado?
Prenuptial agreements can cover a variety of topics, including:
- How to determine what is marital property
- Property and asset division in a divorce
- Whether one spouse will pay the other spouse alimony
- Details regarding division of debt
- Legal rights and obligations regarding the will and insurance policies
Prenups are unique for each marriage. A qualified family law attorney will consider details of each couple’s situation when crafting an effective agreement.
What is required for a valid Prenuptial Agreement in Colorado?
For a prenuptial agreement to be valid, certain requirements must be met:
- The agreement must be in writing
- Each party must truthfully disclose all property and assets
- Parties must voluntarily enter into the agreement
- The agreement must be reasonable and not excessive
- The agreement must not violate public policy or any laws
Unlike other types of contracts, prenuptial agreements do not require the parties to exchange consideration for the agreement to be valid. This means the agreement may appear one-sided, with one party not expecting to receive anything in return.
Are prenups enforceable in Colorado?
The Uniform Premarital and Marital Agreements Act, which is incorporated in the Colorado statutes starting at C.R.S. 14-2-301, specifies that prenups are enforceable in Colorado if they are in writing and signed by both parties. Prenuptial agreements may be deemed unenforceable if:
- The challenging party signed the agreement involuntarily or under duress
- The challenging party did not receive genuine financial disclosures before entering into the agreement
- The challenging party did not have access to legal representation prior to signing the agreement
- The agreement did not include appropriate language regarding waiver of rights (unless the challenging party engaged legal representation)
If you and your spouse drafted a prenuptial agreement while living in another state, the Colorado family courts will usually enforce it. However, an out-of-state prenup must abide by the legal requirements of the state in which it was created. If you have any questions as to whether your prenuptial agreement is legally enforceable, please do not hesitate to ask a Denver prenuptial agreement attorney from Jones Law Firm, PC.
Schedule a Consultation with a Denver Family Law Attorney Today
Our legal team has extensive experience drafting both prenuptial and postnuptial agreements. If you have questions or want to learn more about how Jones Law Firm could help protect your family and secure your future, contact us today for a fully confidential consultation.
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