It’s important to know how to define “standard of living” in a Scottsdale high-net-worth prenuptial agreement, as it can help you in the event of divorce. When drafting your prenup, you’ll want to hire a prenuptial agreement lawyer to make sure the document is legally compliant and beneficial to both you and your future spouse.
Choose Ellsworth Family Law, P.C., to Draft Your Prenuptial Agreement
Since 2003, the team at Ellsworth Family Law, P.C., has helped countless Arizona residents with all facets of family law. Our boutique firm’s attorneys and legal paraprofessionals have extensive experience drafting and finalizing prenuptial agreements for high-end clients.
We know how to handle expansive financial portfolios and high-value assets, and are here to help inform you of your legal rights and options under Arizona law. Our goal is to offer legal protection and transparent advice based on your unique needs.
Living in Scottsdale as High-Value Newlyweds
Located in the Sonoran Desert, west of Phoenix, Scottsdale, Arizona was home to 243,821 residents in 2024. Scottsdale’s major industries included:
- Professional, scientific, and technical services
- Healthcare and social assistance
- Finance and insurance
In 2024, the average income for men in Scottsdale was $91,256, and the average income for women was $60,727. These high salaries mean that couples in Scottsdale get to enjoy a higher standard of living.
This often includes private golf courses, gated communities, and expansive amenities in central Scottsdale’s Gainey Ranch community, McDowell Sonoran Preserve’s Troon North neighborhood, Pinnacle Peak’s Estancia community, and North Scottsdale’s Desert Mountain community.
No matter where you and your future spouse choose to live in Scottsdale, knowing how to protect your assets is key to entering any marriage in good faith and standing.
The Process of Drafting a Prenup in Arizona
A prenuptial agreement is a legal document that defines how a couple’s assets and belongings will be handled during the marriage and in the event of divorce or death. It’s an easy way to help make sure you and your fiancé are protected. For example:
- If you make significantly more in income than your spouse, you may want to include a clause in your prenup that offers your spouse the marital home in the event of divorce, as long as you can waive alimony.
Each prenup will have clauses and terms that are specific to the couple creating it. Once you’ve drafted the outline with your lawyer, they’ll be able to send the draft to your future spouse’s attorney to review. Both legal teams can negotiate on your and your fiancé’s behalf.
When the agreement is finalized, you and your fiancé will sign it, and it will become legally binding upon your marriage.
Alimony in Prenuptial Agreements
A prenuptial agreement can detail how you and your fiancé want to handle alimony in the event of a future divorce. Alimony is meant to help maintain the standard of living upheld during the marriage, as well as help the receiving spouse become financially independent in the future.
This is often awarded when one spouse makes significantly more income than the other, or one spouse gave up their career to maintain the family home or raise children. Couples are able to outline how they want to handle alimony in their prenup. This can include:
- Waiving alimony altogether
- Determining who will pay alimony
- Determining how much the alimony payments will be
- Determining how long alimony will last
If the couple one day gets divorced, the judge at the Southeast Justice Center at 222 East Javelina Avenue in Mesa will follow the prenuptial agreement terms regarding alimony as long as they find it’s fair to both spouses. However, if they believe an alternative option is fairer, they’ll disregard the prenuptial agreement.
This makes it vital to work with an attorney when drafting your prenup. They’ll be able to outline the terms in your prenup in a way that is legally compliant and more likely to be approved by a future judge.
FAQs
How Are Assets Divided During Divorce in Arizona?
In Arizona, marital assets are divided equitably between a couple during divorce, not necessarily equally or based on the personal desires of either spouse.
Marital assets are things acquired during marriage, and can include the rise in value of real estate or businesses. This can make it tricky to determine who will receive which assets during divorce, especially in marriages that lasted many years. Having a valid prenup is the right way to make sure your assets are protected.
What Assets Are Included in a Prenup?
The assets that can be included in a prenup can include each spouse’s income, bank accounts and cash, debt, retirement accounts and IRAs, cryptocurrency holdings, business interests, real estate and rental properties, vehicles, collectibles, pets, and personal belongings. Altogether, these assets can reach into the millions of dollars for certain couples.
What Makes a Prenuptial Agreement Invalid in Arizona?
In Arizona, a prenuptial agreement may be considered invalid by a court if the terms are unfairly balanced, if one spouse didn’t reveal the full extent of their finances to the other spouse, or the prenup was signed unwillingly by one spouse, such as them being coerced into signing without understanding the terms of the agreement.
What Happens if My Spouse and I Want to Change or Cancel Our Prenup After Marriage?
If you and your spouse want to change or cancel your prenup after marriage, you’ll have to have it in writing and sign it voluntarily, just like the initial prenuptial agreement. It’s advised that you work with an attorney during this time, as they’ll be able to help draft any new clauses or terms that you want to edit.
Hire a Prenuptial Agreement Lawyer Today
Reach out to Ellsworth Family Law, P.C., today to schedule a consultation with one of our legal advocates at our Mesa office. Firm partners Steve Ellsworth and Glenn Halterman are both Certified Family Law Specialists, and partner Taylor Larson has spent years helping his community during all types of family law cases. We’re here to help give you the confidence you need to move forward in your marriage and start your new life with your soon-to-be spouse.
