No couple wants to think about the end of their marriage, especially before it has even started. Unfortunately, no marriage lasts forever and prenuptial agreements can help protect your assets in case of divorce, separation, or death.
Additionally, prenuptial agreements deal with not only current assets but also assets you may obtain in the future, providing a clear plan that both spouses agree upon for how assets acquired during the marriage will be treated.
If you are considering a prenuptial agreement, we encourage you to give us a call at (303) 528-1143 or contact us online to request a confidential consultation with one of our Boulder prenuptial agreement attorneys.
Why Would You Need a Prenuptial Agreement?
A prenuptial agreement is a written agreement between two people who are getting marriage that specifies how and preserves separate property interests in the event they divorce or the death of a spouse. Colorado is an equitable distribution state, so generally, any property that is acquired during the marriage is subject to equitable division during a divorce. To avoid this default arrangement, couples can enter into their own agreement regarding what property they consider separate and how the property they acquire during the marriage will be classified. Prenuptial agreements apply to the disposition of property at the time of divorce, as well as upon death.
Prenuptial agreements may be appropriate when:
- One spouse brings significant assets into the marriage
- One spouse owns a family business and wants the business to stay in the same line of lineage
- Both spouses have separate assets that they want to protect and keep separate
- One or both spouses want to protect inheritances for children they have from previous relationships
- A spouse anticipates receiving an inheritance in the future and wants to make it clear that the inheritance is considered separate property
- Additionally, prenuptial agreements can help establish expectations for how assets will be treated during the marriage.
The marrying parties may also specify a limit to or eliminate the right to spousal support, but keep in mind that no matter how carefully planned, such terms can be reviewed and, depending on the circumstances, possibly modified by the court in the even of divorce. Prenuptial agreements cannot dictate the issues of parental responsibility or child support.
Requirements for Colorado Marital Agreements
Colorado marital agreements can be entered into before marriage (called a prenuptial agreement) or after marriage (called a postnuptial agreement.) There are conditions, that an agreement may be voided or revoked, so it is vital that care is taken when preparing such an agreement. Requirements for valid prenuptial agreements include:
- The agreement must be in writing and be signed by both spouses
- Prior to signing, both spouses must have access to legal counsel and have the opportunity to review the agreement
- If a spouse did not have legal counsel, there must be a written statement regarding the rights that the spouse may be giving up by entering into the agreement
- Both spouses must make a full and fair disclosure regarding their assets, debts, and income before entering into the agreement
- The agreement cannot be entered into under duress
Let Us Protect Your Assets
Whether you are entering into a prenuptial agreement or seeking to uphold or contest a prenuptial agreement, the legal team at Hogan Omidi, PC, can help. Our Boulder prenuptial agreement attorneys can review your financial situation and discuss your legal options. We are experienced negotiators and trial attorneys whose objective is to protect your interests. Call us or contact us online to schedule a confidential consultation.