It is increasingly common for people contemplating marriage to want a prenuptial agreement. In 2013, Colorado passed a new statue governing prenuptial agreements which became effective on July 1, 2014. This statute codifies what is necessary in the way of financial disclosures and other procedural requirements for a marital agreement to be valid in Colorado.
There is no “one size fits all” marital agreement. The terms of each agreement have to be negotiated between the parties. Some provisions that are often sought have protections that are only “conditional” and subject to a fairness review if a dissolution of marriage occurs. Certain areas, such as parental responsibilities and child support, cannot be binding in any prenuptial agreement. The usual areas for binding protections are in property rights, including appreciation and protection of separate property, income and inheritance. The kinds of protections available vary significantly. Prenuptial agreements are complicated and require a great deal of attention to detail by the client and the attorney. If you are thinking about getting married and are considering getting a prenuptial agreement, make certain you see an attorney well before your wedding date. We recommend starting the process at least ninety days before the nuptials are scheduled. While negotiating an agreement may not be very romantic, the protections afforded by a properly negotiated marital agreement can provide significant financial savings in the event of a later divorce.