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MARITAL AGREEMENTS
Under the Arizona Uniform Premarital Agreement Act, a prenuptial agreement may be created to designate financial limitations and expectations in the case of a divorce. While prenuptial agreements are often seen as cynical, we as family law experts understand the foresight that can give a new couple the peace of mind they need to build a new life together.
Utilizing an experienced attorney will be necessary for ensuring that your premarital agreement is both valid and enforceable. Contact us for a free consultation. We can help you draft your agreement with a thorough understanding of your specific needs and local best practices.
Arizona Prenuptial Agreement FAQs
What Does a Prenuptial Agreement Achieve?
A prenuptial agreement sets forth the rights and responsibilities of the marrying spouses, particularly in regard to property ownership, if the marriage ends with divorce or a spouse’s death. A valid prenuptial agreement must be negotiated and signed prior to exchanging wedding vows at a religious or civil ceremony. If the wedding is called off, the parties are no longer bound by their respective agreements.
Can You Change a Prenuptial Agreement?
It may be prudent to update a prenuptial agreement with a postnuptial agreement in the event of a divorce. The parties may modify premarital agreements by signing an amendment after marriage. Either party may revoke the agreement, rendering it terminated and unenforceable. In either instance, consideration is not needed for the agreement to be valid.
Some people wonder if they can get a prenup after they get married. The answer is no to a prenup agreement in the first few months of marriage, but before their marriage has lasted at least five years, couples can discuss the terms of a postnuptial agreement that would cover these issues if they divorce in the future. This can help it survive a legal challenge in case of a divorce in the future.
What Are the Terms for a Valid Arizona Prenuptial Agreement?
Arizona recognizes a prenuptial agreement that is written and signed by both parties after all financial assets and obligations are disclosed. An Arizona prenuptial agreement is enforceable without consideration—in other words, an unmarried couple cannot be forced to live together before they get married, regardless of their agreement.
How Can an Arizona Prenuptial Agreement Be Enforced?
Under Arizona law, the Uniform Premarital Agreement Act requires that before you marry, you and your fiancé draft an agreement (called a prenup or marriage contract). The Act states in part that the agreement must be in writing, signed by both parties, and contain certain provisions. This is how you’ll understand what each of you is expected to do during your marriage. If either party attempts to back out of the contract or breach it after signing it, there are strict requirements to ensure fairness.
Should I Get a Prenuptial Agreement?
That answer is a personal one. However, we can provide logical reasons why someone would want to protect their assets as well as free themselves from anxiety related to dividing assets should a marriage end.
People identify a number of reasons to motivate them to comprise a prenuptial agreement:
- Both parties have amassed significant assets
- There are children from former marriages
- One spouse makes significantly more wages
- One spouse is much older than the other
- One spouse is responsible for bringing-on significant debt
- One spouse owns all or part of a business
- One spouse is retired
- Either party anticipates a significant inheritance
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