Colorado Springs Pre & Post-Nuptial Agreement Attorneys

What Do Martial Agreements Cover?

Marital agreements must be signed and in writing by both parties and cannot be made in anticipation of an imminent divorce. Both spouses must be honest about their assets and debts before the agreement is completed. The agreement can cover a number of topics regarding divorce and marriage, such as finances and estate issues. Some of the topics that prenuptial and postnuptial agreements cover are:

There are many other topics that a pre- or postnuptial agreement can cover. If it doesn’t violate Colorado or federal law, the agreement can cover almost anything.

Positives and Negatives of Marital Agreements

Marital agreements are not the best option for everyone. Before signing a prenuptial or postnuptial agreement, each couple's situation should be considered. Some positives of a legally upheld marital agreement include:

• Financial Security During a Divorce: Many marriages end in divorce, so even though you hope to avoid a divorce, an agreement can protect your assets and stop them from vanishing with the other party during a divorce. By determining which assets are joint property and which are separate, both parties can preserve the assets they want protected. This allows you to be sure of what assets, and therefore financial security, you will walk away from a divorce with. If you make more money than your spouse, you could lose a lot of your income due to Colorado’s equitable distribution laws.
• Showing Marital Commitment: Sometimes, after one spouse has cheated, a married couple will enter into a postnuptial agreement that is less favorable to that spouse as a way to indicate their renewed commitment to the marriage.
• Ability to Give Inheritance or Assets to Your Children: If one party has children from another marriage, a marital agreement can give them a way to ensure a certain amount of their assets can be given to those children. This is an agreement that generally applies if that party passes away before their current spouse.

There are some negatives to marital agreements, as well. Incorrectly drafted agreements, for example, are unenforceable in court, which means the entire process was a waste of time and money. Courts are often more favorable to prenuptial agreements than postnuptial agreements, as they prefer an agreement that was made before a marriage.

When a Colorado Springs Prenuptial Agreement is Unenforceable

An unenforceable prenuptial or postnuptial agreement means that, even if both parties who signed the contract agreed to the terms at the time of signing, a judge cannot force either party to follow the terms. This is a big reason why you want legal representation during the signing and creation of a marital agreement to prevent this from happening. Although there are many legal intricacies, there are some basic reasons a marital agreement may be considered unenforceable:

• The agreement is not written out and signed by both parties.
• One party did not fully disclose all financial information. When creating a marital agreement, both parties must inform the other of all assets, properties, debts, and income, and provide an estimate of their value.
• One party did not have access to independent legal representation. Although legal representation is not required in Colorado, access to legal representation is. This includes both the time to find and contact an attorney and the financial ability to hire one. If one party was not allowed to have independent legal counsel review the contract, it would not be enforceable.
• The agreement was signed while one party was under duress.
• A waiver of rights was not written in plain language. Marital agreements often include the waiver of certain marital rights, like rights to alimony or rights to property ownership. If the legal effects of the waiver were not clear, it may be unenforceable.
• The agreement terms are unfair or unconscionable. This means the court considers the terms of the agreement to be so unfair to one party that it cannot be enforced.

To ensure that the creation and drafting of a marital agreement are not found unenforceable by one of these errors or any others, it is important to discuss it with a marital agreement or divorce attorney.