Couples in Colorado who are seeking to fix issues in their marriage may attempt to do so by executing a postnuptial agreement. However, they can be used by any married couple looking to clarify how assets would be divided in a divorce. In some cases, they are created because there wasn’t enough time to execute the contract before the wedding occurred. This type of agreement can be ideal for individuals who don’t want to be liable for gambling, student loan or other debts accrued by a spouse.
It can also be used to help those who quit their jobs to take care of their children retain assets in the event of a divorce. Furthermore, agreements reached after a wedding takes place can be used to ensure that children from a previous marriage will receive assets if their biological parent passes away.
A postnuptial agreement may also require that one spouse pay for any legal fees incurred by the other if a divorce occurs. It could also determine what would happen to a business if a marriage came to an end. In many cases, those who wish to create postnuptial agreements will need to do so with the help of an attorney. At a minimum, individuals may want to seek independent legal advice prior to agreeing to any proposed deal.
A person who is going through a divorce may be allowed to take possession of a family home or other marital property in the final settlement. An individual may also be entitled to spousal support or other assistance from a former spouse in a divorce decree. Family law professionals may review postnuptial agreements or take other steps to help a person obtain everything that he or she may be entitled to under state law.