Prenuptial Agreements in Colorado

Protect your right to choose how your assets would be divided in a divorce. Call Palmer Family Law for assistance with your prenuptial agreement in Colorado. 

When you get married in Colorado, the state automatically views certain assets as “marital property” and “separate property.” In the event of a divorce, your marital property would be divided between you and your spouse, regardless of who acquired it or whose name is on the title or account.

Creating a prenuptial agreement can allow you to supersede many of Colorado’s built-in property division laws and maintain control over what would happen to your property in a divorce. At Palmer Family Law, we help clients create legally sound prenuptial agreements in Colorado that protect their interests and reflect their wishes. 

Contact us today to set up a consultation with one of our attorneys. 

What Is a Prenuptial Agreement? 

A prenuptial agreement is a legal contract you and your spouse create before getting married. It details how you will handle financial matters and certain other issues in the event of divorce. 

Creating a prenuptial agreement gives you more control over how you will divide assets if you and your spouse divorce down the line. Instead of strictly following Colorado’s equitable distribution laws, you can specify which assets will go to whom and keep certain assets as “separate” property. 

A prenuptial agreement may cover any of the following:

• • Defining what assets should be considered separate property 
  • Dictating what assets will pass to specific recipients, especially in cases with children from previous marriages
  • Setting spousal support amounts 
  • Defining which debts should be considered marital property 

Generally, prenuptial agreements cannot legally dictate child custody, child support, or parenting time, as these determinations should be made at the time of divorce based on the best interests of the child. 

Key Benefits of a Prenuptial Agreement

Many people view prenuptial agreements as only for the wealthy. However, these contracts can benefit any marrying couple, regardless of their wealth or the value of their assets.

If you do not create a prenuptial agreement, Colorado’s default laws will effectively become your prenup. Creating your own custom agreement allows you to maintain control over how assets, debts, and spousal support will be handled, so you do not have to simply follow Colorado’s equitable distribution laws. 

There are other benefits of prenups to consider.

Clarify Financial Expectations Before the Marriage

Creating a prenuptial agreement requires you and your spouse to lay your finances on the table and set expectations for how you will share or separate property. You can talk openly about spending and saving habits, joint bank accounts, income, debts, and other financial matters to ensure you are on the same page before getting married. 

Protect Separate Property

Colorado law technically allows spouses to keep the assets they brought into the marriage in the event of divorce. But this “separate property” often becomes commingled with shared assets. For example, you and your spouse might combine bank accounts, making it challenging to differentiate your assets from theirs. A prenup allows you to clearly define your separate property to protect it in a divorce. 

Reduce Conflict and Legal Costs in Divorce

No couple wants to think about the possibility of divorcing down the line, but the reality is that people can change at any time, and divorce may be a possibility in your future. Creating a prenuptial agreement can save you a lot of stress and conflict in a divorce by predefining how you will divide assets and debts. 

Protect Your Business

If you own a business, your spouse could have the right to a portion of the business’s value upon divorce. A prenup can help you maintain control over your business and prevent it from becoming entangled with your spouse if your marriage were to end. 

A prenup does not necessarily need to dictate how you handle assets during a marriage. You and your spouse may still choose to combine accounts and share assets and debts. Prenuptial agreements only come into play if you divorce, which means you may never need to enforce any of their terms. 

Our attorneys can help you explore the benefits of prenuptial agreements in Colorado for your specific case and answer any questions you may have. 

Requirements for a Valid Prenuptial Agreement in Colorado 

Prenuptial agreements need to meet certain legal requirements to be enforceable in court. Under Colorado prenuptial agreement laws, these contracts must:

• • Be in writing
  • Be signed by both parties before the marriage
  • Be entered into voluntarily (not under duress or coercion)
  • Be supported by comprehensive financial disclosures
  • Not be blatantly one-sided or “unconscionable” at the time of signing

If an agreement does not meet these requirements, a judge may not consider it valid in the event of divorce, meaning it would not be enforceable. Working with an attorney is key to creating a valid agreement. 

Do You Need an Attorney To Create a Prenuptial Agreement in Colorado? 

While you are not legally required to hire an attorney when creating a prenuptial agreement, working with legal counsel may be in your best interests. It is generally a good idea for both spouses to retain their own legal counsel to help them draft and review the agreement.

At Palmer Family Law, we can walk you through creating a prenuptial agreement in Colorado that is legally enforceable and reflects your wishes. We will help you ensure that this contract:

• Protects your individual rights and interests
• Includes a full financial disclosure from both parties, which is generally a legal requirement in Colorado
• Is clear and balanced to prevent future legal disputes
• Is not grossly unfair or one-sided

Contact Palmer Family Law Today 

As you prepare for your marriage, creating a prenuptial agreement in Colorado may be highly valuable for providing clarity and peace of mind. Our attorneys at Palmer Family Law are ready to help you draft a legally enforceable agreement under Colorado law. 

Contact us today at (720) 399-7434 for a free 30-minute consultation. We will discuss your needs and set up a time to draft your agreement with you.