A postnuptial agreement, often referred to as a post-marital agreement or postnup, is a legal contract formulated by spouses after their marriage, detailing the division of financial assets in the event of a divorce. This article delves into the intricacies of postnuptial agreements, exploring their purpose, components, and limitations.
Under Colorado law (C.R.S. 14-2-302(2)), a postnuptial agreement serves as a contractual arrangement between spouses, established after their marriage, outlining the distribution of financial assets in case of divorce. Unlike prenuptial agreements, which are signed before marriage, postnups are agreed upon during the course of the marital union. They may also delineate each spouse’s responsibilities throughout the marriage.
It’s crucial to emphasize the intent behind signing a postnuptial agreement. Unlike a separation agreement used during divorce proceedings, a postnuptial agreement is intended for couples already married and intending to remain so. Therefore, the primary objective of a postnup is to safeguard marital rights and obligations, not to facilitate divorce proceedings.
“A postnuptial agreement isn’t just about protecting assets; it’s about laying a foundation for a secure and equitable future together,” says Ashley Whitham, an attorney at Colorado Legal Group, “with a postnuptial agreement, you’re not planning for failure; you’re planning for peace of mind and clarity in your relationship.”
Couples may opt for postnuptial agreements for various reasons, including:
A significant distinction lies between postnuptial agreements and separation agreements in Colorado law. While a separation agreement is a tool in a divorce to memorialize agreements and must adhere to standards of fairness for both parties, postnuptial agreements are not based on a divorce and can be set aside if it’s done in contemplation of a divorce and can be more one-sided in their provisions.
However, it’s essential to understand that the Colorado Marital Agreements Act explicitly excludes separation agreements from its purview. This underscores the importance of delineating between the two types of agreements to uphold the interests of spouses during emotionally taxing circumstances such as divorce.
Historically, the enforceability of postnuptial agreements was contingent upon the absence of intent to divorce at the time of signing. However, legislative amendments, such as the 2014 Uniform Premarital and Marital Agreements Act (UPMAA), have shifted the legal landscape. Under current standards, a postnuptial agreement can be signed with consideration of potential divorce scenarios, as long as the original intent was to remain married.
While postnuptial agreements offer financial clarity and security, they may face challenges, such as:
Though postnuptial agreements may evoke discomfort or skepticism, they serve a pragmatic purpose in addressing financial concerns and preserving marital harmony. By delineating asset division and responsibilities, postnups offer couples a framework for navigating potential divorce scenarios and safeguarding their financial interests.
From wealth preservation to addressing career sacrifices and unexpected windfalls, postnuptial agreements offer invaluable protection and clarity for couples facing diverse circumstances.
Back in 2015, shortly after tying the knot, Depp and Heard considered establishing a postnuptial agreement to clarify the division of assets in case of a divorce. However, this plan never materialized, and one pivotal moment that contributed to its demise emerged during a defamation trial. Former attorney Michele Mulrooney, who represented Heard, testified about a crucial phone call where Depp allegedly appeared intoxicated and verbally abusive.
Mulrooney alleges, “My recollection is that he was very mean, he called me names, and that he fired me on behalf of Amber…Well, my only exact recollection is that he called me a ‘b***h.’”
Mulrooney’s account of the call painted a picture of Depp being verbally aggressive and having poor conduct. This incident, coupled with other complexities in their legal battles, led to the abandonment of the postnuptial agreement idea. Consequently, Depp and Heard navigated their marriage without a clear financial arrangement in place, which later escalated into bitter disputes during their divorce proceedings.
The absence of a postnuptial agreement became a significant point of contention, particularly concerning Heard’s pledge to donate her divorce settlement to charity—a promise that, according to records, was not fully honored. This discrepancy fueled further legal battles and public scrutiny, exacerbating the already contentious relationship between the former couple.
The financial details of Johnny Depp and Amber Heard’s divorce settlement have been subject to various reports and legal proceedings, but specific figures have not been publicly disclosed. Initially, it was reported that Heard would receive a settlement of approximately $7 million, which she stated she would donate to charity. However, the exact amount and details of any financial arrangements between them remain confidential due to the private nature of their settlement agreement. Similarly, any financial arrangements in which Depp might have paid Heard or vice versa have not been publicly disclosed.
If you’re contemplating a postnuptial agreement in Colorado, it’s essential to enlist the expertise of seasoned legal professionals who understand the intricacies of state laws and can navigate the complexities of drafting and executing such agreements. At Colorado Legal Group, our team of experienced attorneys specializes in family law matters, including postnuptial agreements.
Don’t leave your postnuptial agreement to chance. Trust the expertise of Colorado Legal Group to safeguard your financial interests and protect your marital harmony. Contact us today to schedule a consultation with one of our knowledgeable attorneys.
Fill out our free case evaluation form or call us at 720-594-7360 to get started.