Marital Agreements
Colorado Marital Agreements FAQ
When spouses divorce or file for legal separation in Colorado, the Uniform Dissolution of Marriage Act (UMDA) governs their rights. When spouses enter into marital agreements the agreement defines specific rights during the marriage or in the event of divorce or death.
The goal is to develop rights that may be different under the above statute. C.R.S. 14-2-303(1) state that a marital agreement is an agreement either between spouses in contemplation of marriage; between current spouses, but only if both parties sign the agreement before filing for divorce or legal separation in Colorado.
Are Marital Agreements Enforceable?
Colorado general enforces martial agreements. The Colorado Marital Agreement Act governs the validity if the agreement is entered after July 1, 1986.
What are Defenses to a Marital Agreement?
In Colorado if a spouse can effectively show that the marital agreement was not entered into on a voluntary basis, then the agreement may be voidable.
In addition, if the spouse can show that the other did not provided him or her with a fair and reasonable disclosure of property, then the marital agreement may also be voidable.
How Can I Meet the Disclosure Requirement?
A financial affidavit found in the court forms could suffice for a reasonable disclosure of finances and property. The exchange of tax returns may be advisable.
Can I Contract Away Child Support?
A marital agreement may not adversely affect the right of children to receive child support. If you want to address certain issues like trusts, educational accounts etc. then a court may uphold the agreement.
Can a martial Agreement Affect Child Custody or Parenting Time?
In Colorado, parents may not contract away parenting time or child custody rights. However, they may agree upon set schedules
When you are considering drafting a martial agreement in Colorado, you should seriously consider retaining a family law attorney. Failure to o this could have a drastic impact on the agreement as to enforceability.
For more information contact Watson & Associates, LLC at 720. 941.7200.
Theodore P. Watson, Esq
