Like other states, Colorado allows a couple, prior to their wedding day, to sign what is commonly called a prenuptial agreement. In Colorado, this document may also be referred to as a premarital agreement.
While many residents of Centennial and other parts of the greater Denver area may see these agreements as a way of protecting assets in the event of a divorce, they are actually helpful in many situations where a couple has no plans to divorce but who may have special circumstances, such as children from a prior relationship.
To create an enforceable premarital agreement, the couple must follow certain legal requirements. Detailed questions about these requirements should be directed to an experienced attorney.
On the most basic level, however, the couple must make sure that the technical requirements of creating this type of contract get observed. For example, each party needs to sign the agreement.
On a more substantive note, though, it is very important to be sure that both parties enter in to the agreement with their eyes wide open. In other words, both sides need to have a full and fair opportunity to review the financial state of their soon-to-be spouse, meaning the parties have to have a full and open exchange of information about income, assets, and debts.
Moreover, the agreement has to be voluntary and not the result of undue pressure. For this reason, agreements made a few days before a couple says their vows may be viewed with suspicion. On a related point, each party has to either be represented by their own attorney or must have the opportunity to get their own attorney.
Finally, there are certain subjects a premarital agreement cannot lawfully cover. For instance, agreements about child support and child custody can be overridden by the court, even if the agreement is otherwise enforceable.
Tags: Divorce
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