Prenuptial Agreements (Marital Agreements)
A Colorado Marital Agreement Can Help Protect Your Future
No couple wants to think about the end of their relationship, but planning for all potential outcomes is vital for protecting your assets. That is the purpose of prenuptial and postnuptial agreements (referred to as a marital agreements in Colorado). These agreements cover both current and future assets. Because marital agreements are often highly contested when the marriage ends, you must ensure that special care is taken in the preparation and execution of the agreement.
Marital agreements allow future or current spouses to make agreements that change the terms of the “agreements” they are otherwise making pursuant to state law by virtue of entering into a marriage, and are important planning tools for both divorce and death. They can be particularly helpful in protecting family wealth, both in terms of family businesses and inheritances, which can otherwise be impacted by a divorce. Marital agreements can also protect your own estate plan by ensuring that you are able to freely make decisions about who will inherit from you. Many couples also use marital agreements to help set expectations for the marriage, and to come to agreements that will decrease expenses in the event the marriage ends in divorce.
Requirements for Marital Agreements
Marital agreements can be entered either before the marriage, or during the marriage – so long as it is not entered into in contemplation of divorce. The agreement must be in writing and signed by both parties. Both parties must make a full and fair disclosure of their income, assets, and debts prior to entering into the agreement. Marital agreements that are entered into fraudulently or under duress will not be upheld. While there is no requirement in Colorado that both parties have attorneys, both parties must have access to legal representation. That means that both parties must have had the financial ability and opportunity to obtain legal representation. When at least one party does not have an attorney, the agreement must include a specific written advisement regarding the potential rights that may be waived by signing the agreement.
Let Us Protect Your Assets
Whether you are in the process of writing or challenging an agreement, we are here to stand by you and provide experienced counsel. The family law attorneys of Griffiths Law, PC. understand the importance of defending your future and preparing for the worst.
Contact us, we will answer your questions quickly and advocate your cause zealously.
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