A prenuptial agreement, now formally known in Colorado as a “marital agreement,” is a legally binding contract entered into by prospective spouses before their marriage. Similarly, a postnuptial agreement is a marital agreement entered into by individuals who are already married. For these Colorado marital agreements to be enforceable, they must meet several requirements and be finalized before the filing of any dissolution of marriage action.
As with any enforceable contract, there must be specific parties involved. In this instance, the parties are strictly the prospective spouses or the current spouses. To be valid under Colorado law, the marital agreement must meet all the essential requirements of a standard contract, in part the agreement must be entered into voluntarily by both individuals.
Requirements for Enforceability
To ensure the process is fair and to prevent any claims of coercion or unfair dealing, it is customary for each party to retain their own independent attorney. It is important to note that one attorney cannot represent both parties to a marital agreement because of the inherent conflict of interest. Each party selecting their own counsel removes potential legal defenses that the agreement was involuntary or the result of an unfair bargaining advantage.
Another keystone to both premarital and postnuptial agreements is the requirement of full and fair disclosure. Both parties must provide a complete accounting of their income, assets, and liabilities. Without this level of transparency, the marital agreement will not be enforced by a court.
Financial Terms and Legal Provisions
A marital agreement can address many of the financial terms typically considered during a dissolution of marriage, including:
- Spousal maintenance or alimony
- The division of marital property
- Responsibility for specific liabilities
- Ownership rights to businesses and related assets
- Provisions for the payment of attorney fees
However, Colorado marital agreements cannot cover every issue that may arise in a dissolution of marriage action. Any provisions in a marital agreement regarding child custody, parenting time, or child support are considered void. Because such issues involve the best interests of children, they are viewed as matters of public policy and are not enforceable in a private contract.
Consult with a Family Law Professional
If you have questions about prenuptial and postnuptial Colorado marital agreements, Law One can help. Our team of experienced legal professionals has a deep understanding of the complexities of family law and will provide the information you need regarding your agreement. You can call Law One at (303) 831-8313 to discuss your case and schedule a complimentary consultation.
