Marital agreements sometimes come with a certain stigma that a spouse/future spouse doesn’t want to share wealth, assets, or income. But there are a lot more reasons to have a marital agreement, and the process is straightforward.
Premarital, post-marital, civil union, or cohabitation agreements all have their place. Reasoning for agreements can be as simple as setting forth terms in the event the marriage ends by death or divorce, knowing and understanding outcomes better for death or divorce, and disclosing and considering finances of one another. More complicated matters may include protecting business growth, protecting your future inheritance to be gained, or protecting your children of a prior relationship’s inheritance upon your remarriage. Also, marital agreements are the only way to change or waive certain probate rights, and to waive spousal maintenance and attorney fees (in some circumstances).
Colorado favors the enforcement of marital agreements so long as certain elements are fulfilled: you both have access to individual counsel; you disclosed your finances adequately; there is no duress in signing; there is clear language and notice of a waiver of rights; and no terms are against public policy. Meeting the elements is relatively simple and straightforward. Drafting terms for the parties can be done with likeminded parties and attorneys as you share the same goals in crafting acceptable terms.
We have seen a rise in the number of couples seeking marital agreements. With that, the process is relatively easy to draft, review, and sign the agreements. Contact CCB and Carrie Eckstein for more information. You may email Carrie Eckstein.