Some couples planning to get married recognize that there are challenges or complications that require careful planning. Other couples marry and then later realize that they need to legally protect themselves.
Postnuptial agreements are an option in Colorado if you don’t have a prenuptial agreement or if your prenuptial agreement has become so outdated that it no longer properly protects you. There are numerous scenarios in which negotiating a postnuptial agreement with your spouse is a practical and completely justifiable decision.
You have issues with spousal misconduct
Has your spouse cheated on you? Have they developed a serious substance abuse issue or a gambling problem? Your spouse’s misconduct doesn’t just put you at financial and legal risk. It will also strain your relationship with one another.
Negotiating a postnuptial agreement creates penalties or future misconduct and protection from the consequences your spouse may incur as well.
You think that divorce is likely on the horizon
There may not be any one precipitating event that makes you think you need a postnuptial agreement. Instead, you may feel intensely aware of changes in your relationship. If you started thinking about divorce or your spouse has brought it up in a conversation, you can act now to ensure that if you do divorce, it will not be a messy, embarrassing court battle.
A postnuptial agreement gives you a reason to try working on your relationship and will also help you move ahead with a low-conflict and lower-cost divorce if you can’t repair your relationship with one another.
You received a windfall or inheritance
Did you unexpectedly a massive inheritance from your great aunt? Did you decide to sell the small business you took over from your parents and received seven-figure check in exchange for its sale?
When you have assets that might constitute separate property but that are at risk of commingling, you can protect your property rights with a postnuptial agreement. Each spouse can designate certain assets, like retirement savings, that will remain separate property in the event of a divorce.
Drafting a postnuptial agreement can be a way to protect yourself, preserve your marriage and pave the way for a less risky divorce.