Prenuptial Agreements
Protect Your Assets with a Prenuptial Agreements in Arizona
Arizona is a community property state. That means you risk your marital property split in half in a potential divorce settlement. Without an Agreement in place, a judge has the power to decide division of your property, assets, and debt in accordance with Arizona law.
What are the benefits of a prenup?
- One party has accumulated greater wealth or assets before the marriage.
- One party owns or has an interest in business started prior.
- One party is on a business trajectory which could lead to substantial wealth.
- Either or both parties have children from a previous relationship whom they want to protect.
- One or both parties may expect a substantial inheritance.
- One party may have debt and wants to protect the other from liability under Arizona law, prenup must include full financial disclosure and covers issues like spousal maintenance, division of marital property, including real estate, pensions and retirement accounts, checking and savings accounts, jewelry, pets and more. There are essentially four steps in drafting the prenup:
- The exchange of full financial disclosure of assets and liabilities.
- Negotiating and drafting the terms of the Agreement.
- Ensuring compliance with Arizona law.
- Reviewing and finalizing the Agreement.
- Prenups do not address child custody or child support which must be decided in accordance with Ariona law at the time of divorce.