While the wedding’s ceremonial element is typically what comes to mind when thinking about marriage, most will negate or underestimate all that is involved with the contractual aspect of a marriage. For those with large or extensive assets that may become joint property with ownership shared by the individual and their spouse, sufficient arrangements may be made to avoid mishandling or exploitation of these assets by the other spouse.
If you or your loved one wishes to have such arrangements made, effective either before entering into the marriage or if the marriage were to be dissolved, establishing a legally binding marital agreement will be vital to effectuate such an arrangement. let a dedicated attorney help. With the assistance of a Greenwood Village marital agreements lawyer, you can rest easy knowing that the wishes of you and your spouse will be kept and lawfully adhered to.
What is a Marital Agreement?
In Colorado, the Uniform Premarital and Marital Agreements Act, codified at §§ 14-2-301 et seq. of the Colorado Revised Statutes, is the governing law for marital agreements in the state. Under C.R.S. § 14-2-302(2), a “marital agreement” is defined as a contract between spouses intending to remain married that speaks to the upholding, modification or waiving of a marital right or obligation in the occurrence or nonoccurrence of any event throughout the marriage, in the event of a legal separation or dissolution of the marriage, or in the case of the death of one of the spouses. The statute also notes that if the spouses sign an amendment to a premarital agreement or marital agreement, the amendment is also considered part of the marital agreement.
A marital agreement typically refers to a postnuptial agreement, but can also refer to a premarital agreement. Depending on the desired terms of the contract and the outcome sought in creating an enforceable marital agreement, a family law attorney with marital agreement experience can help determine which marital agreement will be best to establish given the surrounding circumstances.
Types of Marital Agreements
As previously mentioned, there are two types of marital agreements that a couple may enter into, namely, a prenuptial agreement or a postnuptial agreement. Under C.R.S. § 14-2-302(5), a prenuptial agreement, also known as a premarital agreement, carries with it the same definition as provided under the statute for “marital agreement,” only that the contract is between a couple intending to marry (i.e., a contract entered into by the couple prior to being wed). However, a postnuptial contract, defined under C.R.S. § 14-2-302(2) as simply a “marital agreement,” is a contract entered into by a couple that is already married.
For a marital agreement to be legally enforceable, it must meet the requirements provided under the Colorado Uniform Premarital and Marital Agreements Act. One such requirement is that the marital agreement must be made in writing and signed by both parties, as provided under C.R.S. § 14-2-306. Additionally, under C.R.S. § 14-2-307, a premarital agreement is effective once the couple is married, while a marital agreement is deemed effective at the time of signing by both parties.
How a Skilled Greenwood Village Marital Agreements Lawyer Can Help You
A marital agreement may be vital for a spouse to adequately protect their individual property or finances in marriage. In some cases, a premarital contract may be formed to establish specific protocols and boundaries with respect to one of the spouse’s personal assets before entering into the marriage.
If you or someone you know in the Greenwood Village area is looking to establish a legally enforceable marital agreement with their spouse or fiancé, you may want to retain the services of the Colorado Lawyer Team. Schedule a consultation with a skilled Greenwood Village marital agreements lawyer today to find out how you and your significant other can create a mutually agreeable marital agreement.