Couples who sign a prenuptial agreement before marriage do so to preserve certain principles in the event of divorce. Colorado spouses who separate with a prenup in place may benefit from having it.
An enforceable prenup must contain certain elements to apply in the state. Whether you are considering a prenup before marrying or need insight about your existing agreement, the staff at Stahly Mehrtens Miner LLC is here to provide expert guidance. Take a look at some common elements of a prenup.
The basic construction of a prenup
First and foremost, you and your spouse cannot rely on verbal promises or notes scribbled on a pad. A prenup is not enforceable in this fashion. You both must execute a written document stating your desire to memorialize your prenuptial wishes in case you split up in the future. Your representations about your then-current financial situation must disclose all assets and debts held individually. If a party is later found to have withheld information or deliberately lied, a court may throw out part or all of the agreement.
Issues to address
A prenup is adaptable to almost any circumstance. Some of the common elements to include are:
- Obligations to other children or ex-spouses
- Property ownership rights after marriage
- How to handle joint debt and assets
- Alimony amount and term
These are examples of some of the conditions you may have in a prenuptial agreement. The court may choose to address any of these if it appears one spouse comes out far ahead of the other. Note that contemplating future children, custody, and child support cannot go in a prenup.
Having agreements in place before marrying can ease the tension should you get a divorce. If you would like more information on this and other divorce-related issues, follow the link to our website.