Getting married brings joy, maybe some nervousness, and lots of planning. However, what about executing a prenuptial agreement before saying “I do”?
Prenuptial agreements (often referred to as prenups) are not usually considered romantic. However, they may be necessary in a world of high divorce rates and double-career couples.
Keep reading to learn more about Colorado prenups.
1. What Is a Prenuptial Agreement?
States have different laws regarding prenuptial agreements, and Colorado is no different. In Colorado, a prenuptial agreement is a contract that two people sign before marriage to decide how they’ll handle financial matters (such as property division) in the case of a divorce.
2. How Do Colorado Prenups Work?
Like other states, Colorado has adopted the Uniform Premarital and Marital Agreements Act (UPPA), which is a law that standardizes prenuptial agreement rules and language. Colorado passed the UPAA in 2014.
Here are some of the requirements:
- The prenup must be a written agreement, not an oral one.
- It must be signed, voluntarily, by both parties.
- It must not interfere with any other marital agreements.
Additionally, each party must disclose their assets and any debts owed. Once the prenuptial agreement is signed, it takes effect after you get married.
3. What Can a Colorado Prenuptial Agreement Cover?
In Colorado, prenuptial agreements can cover a variety of issues. Here are some common ones:
- How will you determine what are marital assets and what are premarital assets?
- How will you divide your premarital assets in a divorce?
- How will you divide your marital assets in a divorce?
- Will you divide your retirement plans in a divorce? If so, how?
- How will you divide your debts, such as your mortgage or credit cards, in a divorce?
- Will either spouse pay alimony upon divorce? If so, how much and for how long?
- If the parties have life insurance, what will happen to those policies upon divorce?
- Any other provisions that the couple wants that don’t violate Colorado law.
4. How Can I Ensure that My Colorado Prenup Will Be Enforced?
In addition to addressing a prenup’s content, the UPAA also governs the enforceability of prenuptial agreements.
Colorado courts won’t enforce a prenup if one spouse is challenging the agreement and can prove that:
- The spouse challenging the prenup signed the document under duress. (However, refusing to marry the other spouse until they sign the prenup is not considered duress in Colorado).
- The spouse challenging the prenup didn’t receive the required financial disclosures from the other spouse, including information about income, debt, and property.
- The spouse challenging the prenup didn’t have access to an attorney.
Legal Assistance with the Colorado Prenups
If you are considering a prenup, VanLandingham Law Team – A Colorado Family Law Firm – can advocate on your behalf to ensure that the agreement is in your best interest.
Our Denver prenup attorney has helped countless couples draft and implement strong and effective prenuptial agreements.Get started today! Contact us online or call (720) 727-6563 to set up a consultation with a prenuptial agreement lawyer in Denver, CO.