There is nothing romantic about a prenuptial agreement. But there are sound practical reasons to have one, and many Colorado couples have made the decision to enter into one. A prenuptial agreement can specify how a couple’s property will be divided in the event of divorce. It can also state whether spousal support will be paid and if so, how it will be calculated. For couples who are already married, a post-nuptial agreement can contain similar provisions.
For couples with significant wealth, prenuptial and post-nuptial agreements can be even more important. Dividing marital property in a high asset divorce can be contentious and expensive. With a valid marital agreement, many if not all of the issues can be settled well in advance, and at a time when the parties are getting along.
For a prenuptial or post-nuptial agreement to hold up in court, it must comply with Colorado law. As we noted in this blog, Colorado now has a law governing marital agreements. This law makes clear that each party must have the opportunity to consult an attorney before entering into the agreement. The law also provides that a waiver of alimony in a marital agreement will be unenforceable if it is patently unfair to one party.
Prenuptial and post-nuptial agreements can be challenged on a number of other grounds. A failure by one party to make a full financial disclosure to the other party is probably the most common ground for marital agreements being ruled invalid. An agreement signed under pressure or at the last minute is also vulnerable to challenge.
At my Longmont, Colorado law firm I have been practicing family law, including the preparation of premarital and post-marital agreements, for over a decade. There is more information on my full-service family law practice on my web page.