Marriage is a legal partnership. Absent any agreements stating otherwise, each party to the union will share in the other’s assets and liabilities to some extent, depending on the jurisdiction. Some states rely on a 50/50 split with regard to all money, debts, and property, while others dictate an equitable split. However, certain situations may arise during your marriage that could necessitate a re-evaluation of the standard asset division with a postnuptial agreement, otherwise known as a marital agreement.
If a Colorado couple chooses to modify their property division agreement or any other dispute after they are already married, you should contact a Littleton postnuptial agreements lawyer. A skilled marital agreements attorney could to protect your interests and help you resolve any other legal disputes.
Colorado postnuptial agreements are governed by the Uniform Premarital and Marital Agreements Act, which the state adopted in July 2014. A postnuptial agreement takes effect upon its signing. To ensure that every element is enforceable and in one’s best interest, each party should consult a Littleton attorney with experience negotiating postnuptial agreements.
For a postnuptial agreement to be valid, it should satisfy these elements:
Colorado postnuptial agreements may not contain terms that define a spouse’s duties with regard to custodial responsibility, including visitation, parenting time, or other parental rights and responsibilities. Additionally, no term within a postnuptial agreement may adversely affect a minor’s right to financial support or restrict the remedies available to a spouse if they are a victim of domestic violence.
Statistics show that postnuptial agreements are on the rise among couples investigating the possibility of divorce or separation. However, married couples commonly engage attorneys in Littleton to assist with postnuptial agreements in less contentious circumstances, as well, such as when one party’s financial situation dramatically changes during the marriage.
Some of the top reasons why a spouse would seek to enter a postnuptial agreement include:
Depending on your net worth and role within your family structure, entering a postnuptial agreement can either serve to protect your interests or lead to your signing away rights you gained upon marriage. These weighty implications can drastically affect your financial positioning upon your marriage’s potential demise, either by death or affirmative dissolution.
A Littleton postnuptial agreements lawyer can help you determine whether it is in your best interests to enter into this type of contract with your spouse and how to best structure the document to meet your needs. Call today to learn more about how we can help.