- Are you getting married?
- Do you want a pre- nuptial agreement?
- Do you need one?
- Has someone asked you to sign one?
- Do you have children from a previous marriage you need to protect?
- Did you or will you receive a substantial inheritance that you want to make sure remains your separate property?
- Is your family giving you money that should be accounted for as separate contribution if you dissolve the marriage later?
All of these are reasons to consider having a solid pre-marital agreement.
In Colorado, a pre-nuptial or pre-marital agreement must include, among other things full financial disclosure and the signing of the agreement without coercion or duress.
If you intend to enter into a pre-marital agreement, hire counsel and complete the agreement before you book the reception, buy the dress or register for your gifts. Make this the priority.
Like wills or estate planning many find very negative connotations to entering into a pre-marital agreement. See this as an opportunity to plan the ideal separation while you are in love. Insure the love!
Understand that Pre-Nuptial agreements are only meant to be financially based.
Colorado is a no fault State for divorce. These are not agreements to hold your spouse to unreasonable promises or agree to punitive terms in case there is a divorce when your spouse does something wrong.
Pre-nuptial or post-nuptial agreements are also not the proper tool to pre-determine parenting matters for children in the future.
While “pre-nups” are traditionally considered to occur prior to the marriage, parties may also enter into post- marital agreements after they marry to determine any division of assets or debts if they were to divorce at a later date.
If your career has changed and there is now a substantial change in income that would make maintenance based on your new income unfair, sign a post nuptial agreement.
If you are taking a significant amount out of your retirement to eliminate marital debt, contract to get that amount back if you divorce in the future through a post-nuptial agreement.
If you sell a property or business and want to invest in a new marital property, sign an agreement that details the transaction if you have to divide the property and value at a later date.
The message is to act with intention. No one means to take away from the one that they love. Pre-nuptial and Post-nuptial agreements help to protect your understanding of separate property and what is fair and equitable in writing so you don’t have to fight about it later.
Post Nuptial Agreements
Ensure your love! After you marry, there are many things that can happen financially for you and your family that make a written agreement regarding the receipt or loss of money necessary.
*somebody receives inheritance during the marriage;
*somebody is prospering financially more than their spouse;
*a loan is needed to pay for a spouse’s debts;
*a business is sold during the marriage;
*or the family is receiving financial assistance from the other’s family;
*you must consider a postnuptial agreement.
Couples enter into post – nuptial agreements when there are significant financial events that should be documented. People think if they are happily married it does not matter.
However, if the marriage later fails, and the parties do not document agreements regarding separate property or debts everything will be considered marital during a divorce.
If you receive an inheritance and use it to pay marital debts or invest it into a joint account, you won’t get it back later.
If you take a loan from your retirement account to pay marital debts or buy a new family car, it won’t necessarily get paid back in a divorce.
If your parents help you financially to purchase a new home, you won’t necessarily get that value attributed to you in a divorce.
If you had a business before your married or build a business during the marriage and sell it or otherwise dispose of it during the marriage, you won’t get those profits back later unless you sign an agreement saying you will.
Ensure the love! Draft an agreement documenting how much separate property or gift money is used towards marital expenses or purchases just in case you end your marriage later.
If you have and questions or concerns please call us at 720-722-0776.
Teddi Ann Barry PC Features
When you decide to Divorce in Colorado, call Teddi Ann Barry, PC. Our mission is to resolve your family legal matters, quickly, efficiently, and in the most cost-effective manner possible. We have experience in all areas of family law, including high conflict litigation when necessary and permitted by Colorado Law
Teddi Ann Barry PC Family Law attorneys have offices throughout the state of Colorado, specifically including Denver, Cherry Creek, Vail, Avon, Steamboat. Our Home office is located in Denver at 899 Logan Street, Suite 203 Denver, CO 80203. Our phone number at this location is 720-722-0776. Our Vail location is at 30 W. Benchmark Road, Suite 214, Avon, CO 81620 970-949-0776.
Teddi Ann Barry PC focuses exclusively on Family law matters including, Divorce, Legal Separation, Mediation and Settlement Conferences, Common Law Marriage, Maintenance, Child Support, Parental Responsibility, Parenting time, Child Custody, Modifications, Paternity, Step-Parent Adoptions, Collaborative Law, Non-traditional Families and Pre and Post Nuptial agreements.
Our mission is to resolve your family legal matters, quickly, efficiently and in the most cost effective manner possible. We have experience in all areas of family law, including high conflict litigation when necessary and permitted by Colorado law.
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