Scottsdale Attorneys Help You Design a Prenuptial Agreement
A premarital contract protects you in case of divorce
Creating a premarital agreement might not be the most romantic thing to do before your wedding, but it is a practical way to protect the financial futures of both you and your spouse-to-be. A prenuptial agreement can shield your assets, play a role in your estate plan and streamline divorce. If you want to draft a prenuptial agreement or have been asked to sign one, contact Clark & Schloss Family Law, P.C. to make sure the contract accomplishes your goals.
How do you create a premarital agreement?
Under Section 25-202 of the Arizona Revised Statutes, a prenuptial agreement must be in writing and signed by both parties. Each future spouse should have his or her own lawyer review the document before it’s signed.
The most common situation in which people create prenuptial agreements is when one spouse has accumulated substantial wealth — or substantial debts — before the marriage. There are many benefits to a premarital agreement, including:
- Defining community property. Arizona is a community property state, meaning that assets acquired during the marriage are divided equitably in a divorce. A prenuptial agreement helps identify your premarital property so it will not be treated as community property in a divorce.
- Reducing conflict. During a divorce, emotions run high. A prenuptial agreement allows you to make important decisions when you are in a cooperative frame of mind.
What issues can a premarital agreement address?
Under Section 25-203 of the Arizona Revised Statutes, a premarital agreement can address:
- The parties’ rights in relation to any asset that either party owns
- The parties’ right to buy, sell or use any asset
- How the assets will be divided in the event of separation, divorce or death
- The terms — or even the elimination — of spousal support, or alimony
- The making of a will or trust to carry out the provisions of the premarital agreement
- The right to the benefits of a life insurance policy
- Any other matter that does not violate public policy or a criminal statute
A prenuptial agreement helps you anticipate and settle matters that are likely to come up in a divorce. At Clark & Schloss Family Law, P.C., we help you draft an agreement that accomplishes your goals.
Schedule a free consultation with an Arizona family law attorney
For help drafting or reviewing a premarital agreement, call Clark & Schloss Family Law, P.C. at 602-789-3497 or contact us online to arrange a free initial consultation. Our office is just off Highway 101, on Frank Lloyd Wright Blvd in Scottsdale, and we offer flexible hours.