Colorado law has a statute that allows couples to reach agreements about dividing their assets and debt if a divorce or legal separation is filed. They can also agree about alimony or spousal support but the Courts can review that agreement to determine its fairness at the time of the divorce or legal separation. Generally both parties should have an attorney review and sign these premarital or prenuptial agreements to ensure they are fair, understood and voluntarily signed. Both parties have to disclose their income, assets and debt to the other prior to the agreement being signed. These agreements can be found to be coerced or unfair by the Courts especially if there were not two independent attorneys involved.
These agreements can also set out how assets and debt will be treated upon the death of either spouse. Many times these agreements are a good way to keep a family business or farm in the family in the event of a divorce.