An Engagement Ring in One Hand, Prenuptial Agreement in the Other
That might not be your idea of romance, but let’s face it – prenuptial agreements don’t evoke the greatest emotions. People often associate prenuptial agreements with distrust or a marriage that is doomed for failure. If you find yourself thinking negatively about prenuptial agreements, it is time you changed your mindset. You never know what the upcoming years will bring and an Arizona prenuptial agreement will bring peace of mind to both you and your spouse.
Just because you have a prenuptial agreement, doesn’t mean that you are anticipating divorce. Instead, it shows that you are being responsible in determining how financial issues will be resolved and preventing family strife in the future.
Arizona Prenuptial Agreement Defined
A prenuptial agreement is a contract in the eyes of the law. According to Arizona Revised Statute § 25-201(1), a prenuptial agreement is defined as “an agreement between prospective spouses that is made in contemplation of marriage and that is effective on marriage.” A prenuptial agreement is a written contract that outlines such things as the possession of assets, treatment of future earnings and control of the property. Even more importantly, it establishes how things will be split if the marriage ends in divorce.
When a Prenuptial Agreement is Often Used
For couples with substantial assets or who earn high salaries, a prenuptial agreement is typically ideal to protect each spouse. People who have children from a prior marriage also frequently utilize prenuptial agreements.
What You Need to Know About Prenuptial Agreements
If you are considering the creation of a prenuptial agreement, there are some things to keep in mind before proceeding:
- Don’t wait to discuss the agreement with your significant other. Waiting until days before you say “I do” is not recommended. You can eliminate a lot of stress and conflict by discussing the agreement early on.
- Be open about your thoughts and feelings regarding the agreement. You and your spouse will be life partners – you need to be able to be honest about the way you are feeling about the agreement.
- Involve an Arizona family law attorney. In fact, you might each benefit by having your own lawyer when creating the terms of the prenuptial agreement.