Preparing for a wedding isn’t only about the types of flowers at the ceremony, the wedding dress, and the flavor of the cake. It’s also about the years of marriage ahead, when two individuals join their lives, properties, and assets into one household.
While few prospective spouses enjoy considering the possibility of ending a marriage before it even begins, a prenuptial agreement is more than a document to protect each spouse against the possibility of financial loss in a divorce, it also provides guidelines and protections for each spouse during the marriage.
Best of all, a prenuptial agreement is created while each party is at their most loving and generous best toward each other, ensuring fair protection for both parties for any future eventuality. Reach out to our experienced prenuptial agreement attorney for a free case review.
A prenuptial agreement (prenup) is a legal contract with legally enforceable terms for the protection of each individual’s assets and future assets. Prenuptial agreements commonly cover the following:
A prenuptial agreement may also include each spouse’s expectations for the other’s rights and responsibilities during the marriage as long as they are lawful.
Both spouses must provide detailed financial disclosures showing their assets and debts before the marriage to ensure that they’ve provided a good-faith estimate of their net worth, financial holdings, and debt. Each spouse must understand and agree on the scope of the prenuptial agreement and what it covers before signing, and each spouse must have adequate time to review the proposed agreement with their independent legal counsel.
Finally, the agreement must have equitable and reasonable terms that aren’t grossly unfair to one spouse. The agreement must be in writing and follow the guidelines of Colorado’s Uniform Premarital and Marital Agreements Act (UPMAA).
A prenuptial agreement only becomes effective and enforceable after the marriage takes place. It may not include any terms affecting child custody or child support and may not restrict or limit a spouse’s right to a legal remedy for domestic abuse.
A prenuptial agreement is drafted and signed into a binding legal agreement before the marriage and becomes enforceable after the marriage. In some circumstances, spouses who married without the benefit of a prenuptial agreement may wish to enter into an agreement detailing the protections and distribution of their separate and marital assets in the event of a divorce or death after they’ve already married.
In this case, a family law attorney may assist them in creating a postnuptial agreement. Postnuptial agreements are very similar to prenuptial contracts but they become active and enforceable after both spouses sign the agreement while a prenup is only valid and enforceable after both parties become married.
No one should create or sign a prenuptial or postnuptial agreement without the benefit of experienced legal counsel to safeguard their rights and protections under Colorado law. Call Ciancio Ciancio Brown, P.C. to ensure that your prenuptial agreement is legally sound, fair, and enforceable.