Colorado Premarital Agreement Law

Marriage – Premarital Agreements – Colorado

14-2-302. Definitions.
Statute text
As used in this part 3, unless the context otherwise requires:
(1) “Marital agreement” means an agreement either between prospective spouses made in contemplation of marriage or between present spouses, but only if signed by both parties prior to the filing of an action for dissolution of marriage or for legal separation.
(2) “Party” means any person who has entered into a marital agreement.
(3) “Property” means an interest, present or future, legal or equitable, vested or contingent, in real or personal property, including income and earnings.
History
Source: L. 86: Entire part added, p. 713, § 1, effective July 1.

14-2-306. Formation requirements.
Statute text
A marital agreement shall be in writing and signed by both parties and is enforceable without consideration.
History
Source: L. 86: Entire part added, p. 713, § 1, effective July 1.

14-2-307.When agreement effective.
Statute text

A premarital agreement is effective on marriage. A marital agreement is effective on signing by both parties.

14-2-304. Governing law.
Statute text
(1) The validity, enforceability, interpretation, and construction of a premarital agreement or marital agreement are determined:

(a) By the law of the jurisdiction designated in the agreement if the jurisdiction has a significant relationship to the agreement or either party at the time the agreement was signed and the designated law is not contrary to section 14-2-309 or to a fundamental public policy of this state; or
(b) Absent an effective designation described in paragraph (a) of this subsection (1), by the law of this state, including the choice-of-law rules of this state.

14-2-309. Enforcement.
Statute text
(1) A premarital agreement or marital agreement is unenforceable if a party against whom enforcement is sought proves:

(a) The party’s consent to the agreement was involuntary or the result of duress;
(b) The party did not have access to independent legal representation under subsection (2) of this section;
(c) Unless the party had independent legal representation at the time the agreement was signed, the agreement did not include a notice of waiver of rights under subsection (3) of this section or an explanation in plain language of the marital rights or obligations being modified or waived by the agreement; or
(d) Before signing the agreement, the party did not receive adequate financial disclosure under subsection (4) of this section.

Advantages of premarital agreements for both parties:

Avoiding Litigation Costs
Protecting against Fears of Family Members
Protecting Family Assets
Protecting Business Assets
Protection Against Creditors
Child Custody and Support Guidlines
Predetermined Disposition of Property

Disclaimer: This law summary is not legal advice. If you are not an attorney, you should consult an attorney about serious legal matters.


Inside Colorado Premarital Agreement Law