Can you obtain a postnuptial agreement?

For many people in Colorado, the process of marriage is a seemingly endless series of compromises. These can begin even before you tie the knot. You can sign a prenuptial agreement that protects your assets in the case of a divorce. But did you know that you can also protect yourself via a postnuptial agreement?

What conditions does a postnuptial agreement cover?

The terms of a postnuptial agreement can be signed off on by both parties and will be legal under family law in Colorado. As you may expect, the terms of this type of agreement will usually be much stricter and more practical than those of a standard prenuptial deal.

Postnuptial agreements are on the rise. This is due to the fact that it allows both parties to protect any assets they have coming into the marriage. Many postnuptial agreements are signed due to the fact that they wish they had previously signed a prenuptial agreement.

It should also be noted that, in some cases, a postnuptial agreement can modify the terms of an already existing prenuptial agreement. This allows couples to strengthen the level of protection that is afforded to their assets. In some cases, this kind of agreement may even help to persuade couples not to divorce.

What are common reasons for a postnuptial agreement?

As noted above, a postnuptial agreement may be signed for any number of reasons. One spouse may plan to open a new business. They will naturally consider this an asset that should remain in their name even if their marriage should dissolve.

If one of the spouses stopped working during the marriage, for example, to raise children, they will need to be taken care of after a divorce. A postnuptial agreement can help to set the terms of the financial settlement they receive.

Postnuptial agreements can be very complex and contentious documents to sign off on. It’s a good idea to speak to qualified financial and legal representatives before you agree to abide by these terms. Doing so can save you a lot of energy, time, and money.