Marital Agreements in Arizona

The Valley Law Group can help any couple draft a pre- or post-marital agreement to protect their assets. Still, couples with significant assets, an imbalance of wealth, children from previous marriages, and more may especially benefit from marital agreements.

Couples of Advanced Age

In recent years, more individuals are waiting until they are older to marry or even remarry at an advanced age. When older couples marry, there are often substantial assets coming into the marriage, children from previous relationships, and other considerations like businesses, retirement accounts, and more. This is why many older couples choose to draft a prenuptial agreement to protect their hard-earned assets and ensure they are distributed fairly if the marriage ends.

Couples with Children from Previous Marriages

A blended family can create a household of happiness and love. Still, when it comes to your existing children, a premarital agreement is important to eliminate confusion and ensure their rights to your separate assets are protected. You’ll be able to clearly define what happens to each partner’s assets in the event that your marriage ends due to divorce, death, or disability – and your children won’t be left to handle the fallout with their step-siblings.

Couples with an Imbalance of Wealth

It is not uncommon for two individuals entering a marital agreement to have an imbalance of financial wealth. A premarital agreement can clearly define how wealth would be distributed in the event of a divorce. This helps to protect the wealthier spouse from losing money gained prior to the marriage. This can also provide a lower-earning spouse with a fair, clearly defined cushion if the marriage ends.

Couples with Significant Assets

One of the most common reasons to consider a prenuptial agreement is to protect each spouse’s existing assets. For example, if you own properties, own a business, or have considerable capital before marriage, an agreement supersedes community property laws and ensures you don’t lose the assets you acquired before marriage.

In general, the process of creating a prenuptial is fairly straightforward but must be completed carefully to ensure the agreement will remain valid. Factors such as current economic status, children, and assets can all factor into how complex the process may become. In addition, in Arizona, the agreement must be voluntarily signed by both parties and provide fair and reasonable disclosure of financial obligations, property, and any rights or responsibilities the couple wants to address.

In most circumstances, each spouse meets with an unbiased attorney who can draft a fair agreement and carefully examine the various provisions to ensure their client understands the details of the agreement. It is not uncommon for a prenuptial agreement to go through numerous drafts before both parties are completely satisfied. The attorneys at The Valley Law Group can help you draft a fair prenuptial agreement that not only protects your assets but will also stand up against the scrutiny of Arizona Family Court.

The details of a prenuptial agreement can vary depending on the needs of the couple.

Common items that are addressed include:

• Determining whether premarital assets will remain separate
• Deciding whether inherited assets are separate
• How to treat retirement assets
• Whether income during the marriage will be considered joint or separate property
• Who will own the assets
• How expenses will be paid during the course of the marriage
• Defining entitlement to spousal maintenance or alimony in the case of divorce
• What happens to assets if a death occurs
• What happens to assets if the couple has children, one spouse sacrifices a career for the family, or in instances of infidelity

There are numerous reasons to choose a premarital agreement. While prospective couples often don’t like to consider a potential divorce before the wedding day, it is a mature, essential way to protect both spouses. Consult with one of the leading family law attorneys at The Valley Law Group to get started.

A postnuptial agreement is much like a premarital agreement, except that it takes place following the legal marriage and not before. This agreement can clearly outline how debts, assets, and other obligations should be divided if the two parties were to divorce. This agreement can also help provide peace of mind when it comes to future decisions concerning ownership and responsibility after a spouse dies.

While there are additional considerations, since the two spouses are already legally tied to one another and hold fiduciary duty, postnuptial agreements typically cover the same topics that would be addressed in a prenuptial agreement. This includes the division of property, retirement plans, debt settlement, spousal support, and more.

While marital agreements can be fairly straightforward, it is essential to get all the details right to ensure the court will uphold the agreement during a divorce. Here are some of the most common questions regarding marital agreements.

While you may not want to consider how divorce or death can impact your life, marital agreements can provide you with the peace of mind that comes with knowing all expectations, boundaries, and responsibilities have been established. Whether you are planning a marriage or are already married, prenuptial and postnuptial agreements are designed to ensure each spouse is protected in the event of a divorce or death. A fair, mutually agreeable marital agreement can make all the difference if divorce eventually occurs.

Each spouse should secure representation from an Arizona marital agreement attorney to ensure a comprehensive, fair agreement. If you are in the Phoenix area, let the professionals at The Valley Law Group guide you through the marital agreement process.

Contact our top AZ family lawyers today to discuss your situation with our experienced team of family lawyers.