Colorado Prenuptial Agreement Lawyer Serving Clients in Denver and throughout Colorado
Many Denver residents assume that prenuptial agreements, also known as premarital agreements or simply prenups, are for wealthy couples or those who need to plan ahead in the event of a high net worth divorce. While having an enforceable premarital agreement in place can be essential for a spouse with significant assets that he or she is bringing to the marriage, prenuptial agreements can also be extremely helpful for any couples regardless of income level and assets. Premarital agreements allow the two parties to agree to certain terms in the event of a divorce.
It is extremely important to understand how the Colorado Uniform Premarital and Marital Agreements Act (Colo. Rev. Stat. § 14-2-309) shapes premarital and postnuptial agreements in the state. If you have questions about creating a premarital or postnuptial agreement, or if you have concerns about the enforceability of one of these agreements, an experienced Denver prenuptial agreement lawyer can assist you.
What Can Parties Contract About in a Denver Premarital Agreement?
Generally speaking, parties can contract about almost all financial issues in a prenuptial agreement except child support. For example, premarital agreements can include the following:
- Ownership of specific property to only one spouse in the event of divorce;
- One spouse giving up the right to seek alimony or spousal maintenance in the event of separation or divorce; or
- One spouse agreeing to take on certain debts in the event of divorce.
When is a Denver, Colorado Prenuptial Agreement Unenforceable?
When you enter into a prenuptial agreement in Denver, you want to be certain that the agreement will be enforceable in the event of divorce. As such, it is extremely important to have a Denver premarital agreement lawyer on your side who has experience drafting enforceable prenuptial agreements and providing evidence to support the enforceability of a premarital agreement. Under Colorado law, all of the following must be true in order for a premarital agreement to be enforceable:
- Agreement must be in writing;
- Agreement must be signed by both parties;
- Both parties must have given voluntary consent to the agreement (the agreement will be unenforceable if one of the parties’ consent was involuntary, or if one of the parties only consented as a result of duress);
- Parties had adequate financial disclosure (which means the parties have a reasonably accurate description of property and good faith estimate of the property value, or the parties have adequate knowledge of the property); and
- Agreement includes a notice of waiver of rights that explains in plain language the marital rights or obligations that are being modified or waived by the agreement unless the party had independent legal representation at the time the parties signed the agreement.
What does a “waiver of rights” look like? Under the statute, a waiver of rights must make clear to the parties that, if the agreement is signed, they may be:
- Giving up the right to be supported by the soon-to-be spouse;
- Giving up the right to ownership of certain property;
- Agreeing to pay bills or debts of the soon-to-be spouse;
- Giving up the right to certain property in the event of divorce or the death of the other spouse; and/or
- Giving up the right to have legal fees paid.
Contact an Attorney
Do you have questions about drafting or enforcing a premarital agreement in Colorado? A Denver prenuptial agreement attorney can speak with you today about your concerns. Contact Bloch & Chapleau, LLC for more information.
