Most people who decide to get married aren't doing it with divorce in mind. Unfortunately, divorce has become quite common. In Arizona, both the divorce and remarriage rates are higher than the national average. Even if a couple is confident they will never divorce, the data gives a compelling reason to at least contemplate that possibility. As such, any couple getting married should consider the possible benefits of a premarital agreement.
Under Arizona law, a “premarital agreement" is defined as “an agreement between prospective spouses that is made in contemplation of marriage and that is effective on marriage.” Often referred to as a prenuptial agreement, it is a contract entered into by the two people prior to their marriage, about how to treat certain assets and liabilities in the event of separation or divorce.
Without a valid premarital agreement, marital property will be distributed upon divorce according to Arizona law. In most cases, a premarital agreement will address the control and disposition of real and personal property, and may also address spousal support rights, trusts, and future benefits upon separation, divorce or death. A premarital agreement can provide that Arizona’s community property principles will not apply to the assets or liabilities acquired by the parties before the marriage, or in some cases to such assets and liabilities acquired during the marriage by one spouse. Seeking legal advice when making a premarital arrangement is advantageous to both parties. Our firm can help you reach a clear and fair agreement on the future distribution of your assets, as well as draft amendments to and seek enforcement of existing agreements
Call Kinerk Law Offices at 520.333.3393 to set up a consultation on your potential premarital arrangements.