Crafting Sound Marital Agreements

Prenups and postnups are other names for marital agreements, which are enforceable under Colorado law. These documents are contracts between the parties that are necessary protective documents for spouses with financial, family or business interests.

At The Drexler Law Group, LLC, our attorneys can help you carefully craft agreements that will hold up in court should you ever need to use them.

Usefulness of Pre- or Postnups

If you are wealthy, own a business, have an investment or assets to protect, have rights to a family inheritance or your prospective spouse has a high debt burden, it would be wise to establish or protect your respective rights prior to marriage. It turns out that when parties know the ground rules and expectations prior to marrying, the level of conflict on these same expectations decreases significantly or can altogether be avoided.

Prenuptial agreements are also useful if either party has children from a prior relationship. An effective premarital agreement can be a useful and enforceable instrument to protect your child's financial future.

The attorneys at The Drexler Law Group, LLC, in Colorado Springs recognize that it can be odd or challenging to confront terms of separation or divorce even before getting married. We also understand that working through the potential harms can be a valuable experience that not only serves to protect your interests but also to have fundamental conversations with your partner prior to marriage.

Marital agreements can provide for division or allocation of assets, treatment of future income, and property and marital debt division if the marriage is later dissolved. Because these agreements can be difficult to draft and some provisions may not be enforceable, it is important to see a lawyer if you are considering entering into a premarital or post-marital agreement.

Legal Issues With Prenups

Contract law principles govern the enforceability of marital agreements including prenuptial agreements (prenup) or postnuptial agreements (antenuptial).

Written agreement or contracts are generally enforceable between the parties that signed the document. However, contracts can be voided, cancelled or invalidated if one party was under duress (so no last minute surprises at the altar!).

Other contract principles can jeopardize the enforceability of a marital agreement so it's important to contact a lawyer prior to entering into an agreement. The most significant error made in drafting marital agreements is leaving out a proper financial disclosure. Without a full financial disclosure, the parties have no idea what interests they are agreeing to waive.

The Drexler Law Group, LLC, can provide you with a concrete understanding of the formal requirements for marital agreements and can discuss the best presentation for a full and accurate disclosure of assets, property, debt and income.

Issues Involving Children

Another mistake made in premarital agreements involves including provisions for child support or a parenting plan. Colorado courts apply a "best interest of a child" standard when reviewing all agreements involving children. Colorado courts will not enforce parenting or child support provisions in a martial agreement because the court cannot analyze and make findings as to the best interest of a child who may not even be born at the time the agreement is signed.

Spousal Maintenance

Marital agreements are, however, effective tools to address spousal maintenance (i.e. spousal support or alimony). In January 2014, Colorado began following and applying a new spousal maintenance standard. Your lawyer can explain the impact of the new spousal maintenance standards on marital agreements, including the provisions necessary to waive or deviate from the guideline spousal maintenance amounts.

We Are Dedicated To Protecting You. Call Us Today.

Whether you're entering a marriage or leaving it, when you call The Drexler Law Group, LLC, you're calling family law attorneys who are dedicated to protecting your best interests. Contact us today at 719-359-4623 for more information about your situation and to schedule a free consultation. You may also contact us online.