Colorado Prenuptial Agreements
There are a few types of marital agreements in Colorado. Prenuptial agreements are one of them. They are also known as marital or pre-marital agreements. These contracts are between two parties before they get married. When you are about to get married, you do not want to think about the chance that you could get divorced. However, it is very important to always be prepared for the unexpected. Talking with a lawyer can help you fully understand the benefits of a pre-marital agreement.
A lot of people are not sure if they need a prenuptial agreement. If you have any property, or if you have children, prenuptial agreements can protect them in the case of a divorce or even your death.
Pre-marital agreements can address many things. This may include alimony and property division in the event of a divorce. They can also include the assets you have now and the ones you will gain while you are married. Pre-marital agreements are often thought of in a negative way. However, there are many advantages to having one in place. It is not always about keeping things out of your spouse’s hands. It can also be used to ensure that both parties are taken care of if a divorce happens. They also give you the control you need over your assets to make sure your children are taken care of in the event of divorce or death.
It is essential to keep in mind that a pre-marital agreement can’t decide child custody or child support in the case of a divorce. However, it can reduce the stress of dividing assets and debts. As a result, you can focus on the most important issues.
Postnuptial Agreements
A postnuptial agreement can also be referred to as a post-marital agreement. It is a contract for two parties when they are already married. This contract can’t be made if you are expecting to get divorced. We often see these happen right after a couple gets married. In many cases, they just did not have the time for them to get the contract made before they got married. If you are married and you have any questions about marital agreements, please reach out to the family lawyers at CCFL.
Enforcement of Marital Agreements
When Is It Used?
In Colorado all marital agreements have to be in writing. Then they must be entered willingly by both parties. Having either one of these can be a huge part of the divorce process. It helps reduce the amount of conflict. When these are used in a divorce, the Court will look at it closely at a few different parts to determine if it is valid. For example, the Court will look at the timing of the agreement. Each party must have had an opportunity to reflect. They will also look at the legal counsel before the agreement will go into effect.
How Do I Make Sure It Is Valid
It is crucial to consult with a skilled family law attorney when you are drafting either type of agreement. There may be details that go against public policy, are unjust or even break laws. Without an expert lawyer, these issues can be missed. By the time they are found it is too late. Having an invalid marital agreement can cause many severe issues for you and your loved ones in a divorce or when you die.
Common Mistakes
When going through a divorce, the question of “marital property” and “separate property” will come up. Many people think that if the asset is in their name, that means that it is “separate property”. However, if it was obtained during the marriage or has gained value during the marriage, it could be “marital property.” There may only be a part of it that is “marital property.” As a result, it will be subject to division. This mistake can cost you assets that are important to you, the ones you believed you were entitled to. Having an agreement in place prior to or during the marriage can help define more clearly which assets are “separate” and which ones are “marital.”
It Is Not Only For Divorce
Having a prenuptial or postnuptial agreement in place can help protect your assets for your family if you were to die. If you do not have one, your spouse may be able to take assets that you want to keep for your children. One of these agreements can make it easy for your family to confirm what is or what should be protected for certain members of your family. This helps to reduce stress and conflict among family members during their time of grief.
Contact Our Family Lawyers Today to Discuss Marital Agreements in Colorado
Contact a family lawyer at Choice City Family Law, LLC. to determine if a marital agreement is an appropriate part of your estate plan or a beneficial document for you if you are considering getting married. We help clients around Northern Colorado including Larimer County, Weld County, Boulder County, and Denver County.