A Colorado prenuptial agreement, also known as a “premarital agreement,” is a legal document created by couples before marriage to outline the division of assets, debts, and other financial matters in the event of divorce. It serves to protect individual assets and clarify financial expectations during marriage.
It is advisable for both parties to have separate legal representation to ensure the agreement’s validity. Coercion or the absence of independent legal advice may impact its enforceability. Hidden financial details, evidence of involuntary signing, and unfair clauses can also render the document unenforceable.
Legal Considerations
Laws:
- § 14-2-302 – Definitions
- § 14-2-303 – Scope
- § 14-2-303.5 – Applicability of part and case law to agreements relating to civil unions
- § 14-2-304 – Governing law
- § 14-2-305 – Principles of law and equity
- § 14-2-306 – Formation requirements
- § 14-2-307 – When agreement effective
- § 14-2-308 – Void marriage
- § 14-2-309 – Enforcement
- § 14-2-310 – Unenforceable terms
- § 14-2-311 – Limitation of action
- § 14-2-312 – Uniformity of application and construction
- § 14-2-313 – Relation to electronic signatures in global and national commerce act
Signing Requirements: Both parties must sign the document to be legally enforceable, and it does not require consideration (§ 14-2-306).
Dividing Property: Equitable division (§ 14-10-113).
Enforceability Requirements
- Essential Terms for Validity: Defining separate property, asset division preferences, spousal support decisions, and delineation of marital debts, with legal consultation recommended for clarity and advice.
- Terms to Exclude: Provisions attempting to waive child support rights, attempts to contract away custody, anything that would force illegal or immoral acts, hinder a victim of domestic abuse from seeking legal aid or divorce, and any terms violating public policy.
- Additional Requirements: Providing full financial disclosure.
