Prenuptial Agreement Attorney In Chandler, AZ
Whether it’s your first marriage or you’ve been married before, joining your life to another can be daunting. While no one wants to ever think of divorce, there’s never a guarantee that your marriage will last. A prenuptial agreement can help reduce some fears of what happens to your property and finances if you and your spouse decide to divorce. A Chandler prenuptial agreement lawyer at Ellsworth Family Law, P.C. can help you through the prenup process.
What Is a Prenuptial Agreement?
A prenuptial agreement, or prenup, is a legally-binding contract that you and your intended spouse write and sign before your wedding day. The purpose of a prenup is to determine before you’re married how assets and finances that you bring to the marriage will be divided if you were ever to divorce.
Having a prenup in place is important for all married couples, but especially high-net-worth couples in Chandler, Arizona, who bring a large amount of assets, properties, and money to a marriage. Your prenup defines:
- How property and assets would be divided.
- How finances will be handled between both parties, including accumulated debts.
- The terms for alimony or spousal support.
- Inheritance rights are part of your estate plan.
In addition to a traditional prenuptial agreement, there are a few other types of prenups that your Chandler prenuptial agreement attorney may suggest you consider, depending on your situation. These include:
- A business prenup clearly defines the property and assets related to the business, keeping the business from being considered community property by a judge in the Maricopa County Superior Court. And this type of prenup states that the other spouse is not liable for any debt created through the business.
- A sunset or sundown prenuptial agreement includes a clause that terminates the prenup at a certain date related to their marriage. For instance, a couple could agree that if they remain married for at least 10 years, their prenup ends on the 10th wedding anniversary. This type of prenup is helpful for couples who are unsure if their marriage will go the distance.
- A postnuptial agreement is basically a prenup that you set up after getting married and helps to establish what would happen to your assets and finances if you were to divorce.
Understanding Arizona Prenuptial Agreement Laws
Arizona defines what is considered a prenuptial agreement through the state’s Uniform Premarital Agreement Act, Arizona Revised Statutes Section 25-202. Under this law, prenups in Maricopa County must:
- Be completely written — verbal agreements are not considered valid in court.
- Be signed by both parties.
- Have been written and signed willingly, without being forced to agree to it or signing when cognitively impaired.
- Provide a fair and reasonable disclosure of the assets, finances, and debts of both parties.
- Be established before being married.
What Is Not Allowed in a Prenup
There are also a few things that a prenup in Arizona is not allowed to include, such as:
- Child support terms or custody arrangements.
- Lifestyle clauses, such as division of household chores, social media restrictions, and rules about when in-laws can visit.
- Appearance-related personal clauses, such as setting a penalty if a spouse gains a certain amount of weight, or requiring a spouse to undergo cosmetic surgery.
- Any terms that a judge deems to be unfair or completely one-sided.
- Anything that the state of Arizona would consider illegal or breaking the law.
It’s important to note that Arizona is a community property state, as specified under Arizona Revised Statutes Section 25-211. That means that if you don’t have a prenup in place and decide to divorce, a judge will consider all of your properties, assets, finances, and debts as jointly owned and should be split as evenly as possible.
This can be very detrimental for high-net-worth couples who may have brought in a large amount of finances, assets, or a business into a marriage, but didn’t declare through a prenup that these things shouldn’t be split if there’s a divorce.
Why Should I Hire a Prenuptial Agreement Lawyer in Maricopa County?
While Arizona prenuptial agreement laws don’t say you must hire a prenup attorney, it is highly recommended you do so. If a prenup is not drawn up and established correctly, it may be considered invalid and tossed out by a divorce court judge.
Some reasons why a prenup might be considered invalid during a prenuptial agreement case include:
- Everything wasn’t completely written down.
- The document was not signed by both parties.
- The prenup was signed, but not witnessed or notarized.
- The judge believes one side was forced to agree and sign the prenup.
- Both parties didn’t fully disclose their assets, finances, or debts.
- Unfair representation as one party had a lawyer while the other did not.
- The prenup includes clauses that aren’t allowed, such as child custody arrangements or lifestyle or appearance-related clauses.
The job of your Chandler prenuptial agreement lawyer is to:
- Help you and your fiancé draft a prenup that is fair and that both parties fully understand what will happen to their assets and finances if they divorce.
- Generate a full financial disclosure for both parties, so there’s no hidden debts or undisclosed assets.
- Make sure both parties are signing the prenup of their own free will and not under any type of duress.
- Establish terms that are fair to both parties and don’t include any clauses that are not in compliance with Arizona prenuptial agreement laws.
- Defend you in court if your spouse challenges any of the terms of the prenup during divorce proceedings.
Get Started on Your Prenup Today
Of all Arizona counties, Maricopa County ranks the highest in divorce rate, with more than 10,000 divorces in 2023, and the highest average household income. With such a highly affluent population in Maricopa County, it’s not uncommon for couples looking to tie the knot to hire a prenuptial agreement lawyer.
For more than 23 years, Gilbert prenuptial agreement attorney Ellsworth Family Law, P.C. has been assisting high-net-worth couples in protecting their financial future and giving themselves peace of mind with a prenup that is legal, binding, and fair for all parties. Call our office today to schedule a prenuptial agreement consultation.
