Pre-Nuptial Agreements

What is a Pre-Marital Agreement?

     A premarital agreement (also known as an antenuptial or prenuptial agreement) is a contract between intended spouses made in contemplation of marriage. The drafting formalities for a prenuptial agreement in Colorado are governed by the Colorado Marital Agreement Act (C.R.S. Section 14-2-103, et seq.). These requirements are:

1. The agreement must be in writing;
2. Signed by both parties;
3. No consideration is required.

A prenuptial agreement may address the following issues:

1. Division of property and debt,
2. Rights and obligations under employee benefit or retirement plans, insurance policies, wills, etc.,
3. Rights on Death; and
4. Spousal alimony / maintenance.

What Purposes does a Pre-Marital Agreement Serve?

     The reasons a prospective married couple might want a premarital agreement vary. Some examples are:

• To preserve rights of inheritance for others, such as children from a prior marriage;
• To establish property and alimony rights of parties in the event of marital dissolution;
• To define, to the extent valid, the respective domestic responsibilities of the new marital partners;
• To outline anticipated arrangements that justify an agreed variance from constitutional and statutory rights;
• To put in writing the disclosure and discussion by the parties about their respective estates, and expectations as to how those separate estates will be managed during the marriage.
• To identify ownership of separate property for the purpose of protecting title;
• To prevent undue surprise between spouses, including the economic aspects of new relationships both during marriage, and upon termination by dissolution or divorce.

     Prospective spouses should discuss in detail exactly how they think a premarital agreement might affect their future relationship. This can foster positive discussion between prospective domestic partners, and strengthen the ultimate authority of the agreement.

     To be enforceable by the court, it is vitally important that premarital agreements meet the technical requirements of existing Colorado law and that the parties execute the agreement voluntarily and with full knowledge of there legal rights. There must also be a full disclosure of the income, assets and debts of each party before the agreement is signed.