COMMON TERMS IN COLORADO PRENUPTIAL AND POSTNUPTIAL AGREEMENTS
Spouses (or soon-to-be spouses) are generally free to make a wide variety of agreements in prenuptial and postnuptial agreements in Colorado. However, the parties must follow proper formalities and include key statutory advisements to ensure the enforceability of the agreement. See our separate page on Formalities in Prenuptial and Postnuptial Agreements. Better yet, call the Denver Family Lawyers at 303-502-9600. We’re experts on prenuptial and postnuptial agreements in Colorado.
The heart of any prenuptial or postnuptial agreement is the division of assets, debts and other financial interests and liabilities. Parties can agree in advance to divide—or not to divide—existing or future assets acquired by one or both parties, whether that asset is legally “separate” property or “marital” property. These assets may include real estate, business assets or interests, life insurance, inheritances, retirement funds, stocks bonds and other paper assets, savings and other bank accounts, gifts, tax liabilities, and on and on. Responsibility for debts of all kinds can also be delegated in prenuptial and postnuptial agreements, such as notes on deeds of trust (mortgage debt), student loans, credit cards medical bills, judgments and other legal liabilities.
Agreements about the division of retirement funds are also generally enforceable but are subject to state and federal rules that may limit the free transfer of these monies or require special procedures to implement the intent of the parties. Parties also commonly include provisions about life, health and other forms of insurance in their prenuptial and postnuptial agreements.
Agreements about maintenance are also commonly included in most Colorado prenuptial and postnuptial agreements. Typically, the higher-income party seeks to waive or limit his or her obligation to pay the other party maintenance upon divorce. Be advised, the court will review all agreements as to maintenance for conscionability, i.e., basic fairness, as of the date of the divorce or legal separation. The same rule applies to agreements about attorneys’ fees. Agreements about income are also common in many Colorado prenuptial and postnuptial agreements, such as whether either spouse’s income is considered separate or marital property.
The above discussion is far from exhaustive but it highlights the myriad issues that may be included in a Colorado prenuptial and postnuptial agreement.
Financial considerations are only part of a complete prenuptial and postnuptial agreement. Important non-financial terms include choice of venue, choice of jurisdiction, alternative dispute resolution, choice of law, formalities as to notice, and terms relating to estate planning and probate issues, just to name a few.
Contact a Prenuptial and Postnuptial Agreement Attorney in Denver
Prenuptial and postnuptial agreements involve a large number of complex legal issues and potentially huge financial stakes. Call the Denver Family Lawyers at (303) 502-9600 to discuss your questions and concerns.