Navigating the Legalities of Saying “I Do”
Whether you are a newlywed, planning a proposal, celebrating your twentieth wedding anniversary or entering your third marriage, you may be considering what legal consequences come along with tying the knot.
A prenuptial agreement is a contract entered into between a couple prior to marriage which pertains to each person’s respective rights and obligations in the event of divorce. A postnuptial agreement operates similarly to a prenuptial agreement but is entered into following the marriage, rather than before the marriage.
Courts in Colorado have recognized and enforced prenuptial and postnuptial agreements for well over one hundred years. While they are generally not considered a romantic topic, and perhaps even a controversial topic for some, nuptial agreements are nonetheless becoming more and more popular amongst blossoming generations.
There are a variety of reasons that couples enter into nuptial agreements, and there are a number of theories that exist regarding the reason for their increasing popularity in today’s society. Trends toward marrying later in life, increasing divorce rates, a desire to protect family heirlooms, protection of a business entity, and the desire to plan ahead in the event of remarriage, are amongst a few of the reasons people broach this topic.
There is a dense and complicated body of law that governs prenuptial and postnuptial agreements as well as their enforceability in the courtroom. Specific steps must be followed to ensure the enforceability of a nuptial agreement in the event of divorce, and failure to be thorough and attentive to the details now could result in devastating losses in the future. Colorado courts lean towards enforcing nuptial agreements, but they will consider setting nuptial agreements aside where the terms of the agreement are unconscionable, where one or both parties failed to provide adequate financial disclosures before signing, or in various other limited circumstances.
We Can Help
If you are considering entering into a prenuptial or postnuptial agreement, it is important to take the right steps to lay a proper foundation to ensure the enforceability of the agreement in the future. If you are the person being presented with a prenuptial or postnuptial agreement, it is important to fully understand the potential consequences of the agreement in the future and to exercise your own bargaining power at the negotiation table. No matter which side you may be on, Law One can help you plan for success to avoid being blindsided in the event of divorce. Call us now at 303-831-8313 to schedule a phone consultation or meeting with an experienced Family Law attorney who can help you navigate the potential legal issues that could arise.