Prenuptial agreements, also known as prenups, are legal contracts entered into by couples before they get married or enter into a civil partnership. These agreements outline the distribution of assets, responsibilities, and other financial matters in the event of a divorce or the dissolution of the partnership. In Colorado, prenuptial agreements are governed by the Colorado Uniform Premarital and Marital Agreements Act. However, there are certain provisions that cannot be included in a prenuptial agreement.
Here are some important factors to consider when creating a prenuptial agreement in Colorado:
1. Property Division: Under Colorado law, you may include provisions in your prenuptial agreement that determine the division of property upon divorce. However, you cannot include provisions that limit or waive child support. Child support is determined based on the best interests of the child and cannot be predetermined in a prenuptial agreement.
2. Alimony or Spousal Support: Prenuptial agreements in Colorado can address alimony or spousal support, subject to certain limitations. While you can agree on the duration and amount of spousal support, you cannot completely waive or eliminate it. The court still has the final say in determining whether the proposed alimony provisions are fair and reasonable.
3. Child Custody and Visitation: In Colorado, prenuptial agreements cannot determine child custody or visitation rights. These matters are decided based on the best interests of the child at the time of divorce. It is important to note that courts prioritize the child’s well-being over any predetermined agreements in a prenuptial agreement.
4. Illegal Provisions: It is important to remember that any provisions in a prenuptial agreement that violate state laws or public policy are unenforceable. For example, discriminatory provisions based on race, religion, or other protected characteristics are not permitted.
5. Full and Fair Disclosure: A valid prenuptial agreement requires full and fair financial disclosure from both parties. Each person must disclose all assets, liabilities, income, and expenses. Failure to provide accurate and complete information may render the agreement unenforceable.
Is your prenuptial agreement valid?
To ensure the validity and enforceability of your prenuptial agreement in Colorado, it is crucial to consult with an experienced family law attorney. They can guide you through the process, help draft a comprehensive and fair agreement, and ensure that it complies with Colorado law. Remember, the purpose of a prenuptial agreement is to protect both parties’ interests and provide clarity in the event of a divorce or dissolution.
If you need help with your prenuptial agreement, or have any questions, contact us at the Drake Law Firm today by calling us today.