How much does a Colorado postnuptial agreement cost? This a common question that married couples in Colorado often ask. Let’s explore this question and review some general information about postnuptial agreements and why they are beneficial.
How Much Does a Postnuptial Agreement Cost in Colorado?
A postnuptial agreement, sometimes called a post marital agreement, is a legally binding contract that couples enter after they get married. This contract is like a prenuptial agreement, which is signed before marriage, in that it lays out the rights and obligations of each spouse in the event of divorce or death.
Many couples choose to hire a family attorney to draft their postnuptial agreement because this legal contract can have significant lasting effects on the couple’s lives. It is important that the agreement is drafted correctly and abides by Colorado laws in order to be enforceable in court.
Based on ContractsCounsel's marketplace data, the average cost of a postnuptial agreement in Colorado is $761.81.
See Postnuptial Agreement Pricing by State
- District of Columbia
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Why Do I Need a Postnuptial Agreement in Colorado?
Colorado is an equitable distribution state which means that in the event of a divorce, a couple’s property will be divided by the court in a way that the court determines is fair to both parties. It is important to understand that “fair” does not necessarily mean equal. This means that the court can award one spouse with more or less assets than they have rightfully earned throughout the duration of the marriage.
Debts acquired during the marriage are also subject to equitable distribution between the two parties. While the court may consider which party incurred the debt, without a marital agreement in place, it will be up to the court to decide who will be responsible for the debt.
If a couple has a properly executed postnuptial agreement, in most cases, this legally binding agreement will supersede the states laws for property distribution.
What's Typically Included in a Colorado Postnuptial Agreement
Every marital agreement will be different and personalized to the couple’s assets, debts, and wishes but the prenup must follow state laws. It is common to find the following provisions in a Colorado postnuptial agreement:
- Property division. How the couple's assets and debts will be divided in case of divorce. This can include the division of real estate, personal property, investments, and retirement accounts.
- Spousal support (alimony). The amount and duration of spousal support that one spouse may be entitled to receive.
- Inheritance rights. The inheritance rights of each spouse in case one spouse dies, including how assets will be distributed, and whether the surviving spouse will receive any inheritance.
- Debt allocation. How the couple's debts will be divided in case of a divorce or legal separation.
- Business interests. If one or both spouses own a business, the agreement can specify how the business will be valued and divided in case of divorce.
- Non-financial provisions. A postnuptial agreement can also include non-financial provisions like who is responsible to pay certain bills and how household chores and responsibilities will be shared.
Benefits of a Postnuptial Agreement
Postnuptial agreements can be difficult to discuss, but they provide many benefits to couples including:
- Protection of assets in the event of divorce
- Protection from each other’s debts
- A customized plan to distribute assets
- Avoidance of a state law divorce settlement
- Future planning
- Peace of mind knowing that financial matters are settled
The majority of fighting in a divorce is over assets and debts. With a marital agreement in place, the decisions about property division are already made. This saves a couple from the additional stress and financial burden of litigation.
Colorado Postnuptial Agreement Projects
Postnuptial Agreement Drafting in Colorado
It is always recommended that a couple hires a knowledgeable attorney to draft a postnuptial agreement. A lawyer will be familiar with Colorado law and know what can and cannot be included and enforced in a Colorado postnuptial agreement.
Postnuptial agreement drafting will usually involve a consultation with the couple to learn about their assets, debts, and the terms they want to include in the agreement. The attorney will then draft a marital agreement that implements these terms.
Postnuptial Agreement Review in Colorado
In some cases, a couple may have an existing marital agreement or they have drafted their own contract from a template. The issue with using templates is that each state has different laws governing postnuptial agreements and the template may not cover those state specific laws.
Before executing a legally binding contract, a couple is encouraged to have the document reviewed by a licensed attorney. The attorney will ensure that the contract is fair, follows all applicable Colorado laws, and will be enforceable in court in the event of a divorce or death of a spouse.
Colorado Postnuptial Agreement Drafting Cost
If a couple hires an attorney to draft their postnuptial agreement, they will incur legal fees because drafting a contract of any kind requires the time and legal expertise of a licensed lawyer to complete the project.
According to ContractsCounsel's marketplace data, the average postnuptial agreement drafting costs in Colorado are $1,075.00.
Colorado Postnuptial Agreement Review Cost
Hiring an attorney to review a postnuptial agreement will also come with legal fees. Even though the attorney isn’t drafting the entire document, they will still take their time reading over the contract and suggesting revisions based on their specialized legal knowledge.
ContractsCounsel's marketplace data shows the average postnuptial agreement review costs in Colorado are $414.14.
How Do Colorado Lawyers Charge for a Postnuptial Agreement?
Hourly Rates for Postnuptial Agreements
A Colorado family law attorney will mostly likely charge their clients using an hourly rate fee structure. With this fee agreement, a lawyer will bill a client at a set hourly rate for time spent working on the case or project.
Lawyers can bill clients for a variety of work including communications with the client, time in court hearings, and even for work completed by support staff like paralegals.
The marketplace data for ContractsCounsel shows the average hourly rate for a family lawyer in Colorado ranges from $200 - $300 per hour.
Flat Fee Rates for Postnuptial Agreements
If a lawyer is hired for a specific project with a definitive end, like drafting a postnuptial agreement, they may choose to charge the client a flat fee rate instead of billing hourly. In a flat fee payment structure, attorneys will provide a flat fee price to the client for the proposed legal services.
Clients usually prefers flat fee rates because they know exactly how much they will be spending for legal services. It is important that the client knows what is included in the flat fee rate because additional legal services like consultations or revisions may not be included in the flat fee.
ContractsCounsel's marketplace data shows the average flat fee rate for a postnuptial agreement in Colorado is $761.81.
Get Help with a Colorado Postnuptial Agreement
Do you need help with a postnuptial agreement project? If so, post a project in ContractsCounsel's marketplace to receive flat fee bids from family lawyers who are licensed to practice law in Colorado and can handle your project. All lawyers on the ContractsCounsel's platform are vetted by our team to make sure you are provided with top-tier service.