Prenuptial Agreements

Arizona Prenuptial Agreements

Two people who are planning to marry may choose to enter into a prenuptial agreement. A ‘prenup’ has grown to be a common term in today’s culture, but although the term itself is common, many people have a misunderstanding of what a prenuptial agreement actually is. According to Arizona law, a prenuptial agreement is essentially a contract between people that is made in contemplation of marriage. It does not become effective until the marriage occurs. There are many requirements to ensure that a contract is fully enforceable, and our Tucson prenuptial agreement attorneys can assist in drafting a valid contract to protect your assets.

In many cases, couples request prenuptial agreements when there is a difference in the incomes and the property belonging to each individual or high assets belonging to each person. Another common instance to request a prenuptial agreement is when one party owns a business prior to marriage or when one party is retired. When one or both parties have children from prior marriages, they may want to ensure those children receive a portion of their estate. With all that in mind, these types of agreements are typically more common among older couples.

There are generally excellent reasons for couples wanting a prenup- so it is important that those who choose to enter into a prenuptial agreement have it done correctly so it is fully enforceable in court. These are not something that should be done without consulting an experienced attorney who is well-versed in prenuptial agreements. The Arizona Uniform Premarital Agreement Act is the governing law that outlines the legal requirements for drafting the contract as well as the rules to determine whether or not they are enforceable. The first and foremost rule is that in order to be enforceable, the agreement must be in writing and signed by both parties. That one seems fairly straight-forward. But you will want a Tucson prenuptial agreement attorney to assist with drafting to ensure that the other requirements such as full disclosure of property and financial obligations is made, the agreement is not unconscionable, and it was voluntarily executed.

One of the biggest arguments made in challenging the enforceability of prenuptial agreements is that the agreement was signed under duress or that one party had an attorney, and the other did not. If you are considering a prenuptial agreement, it is important that you discuss it with your partner well in advance of your upcoming marriage. The prenup should be signed at least a month or two in advance of the marriage date and both spouses should have an attorney review the contract and sign it to prove that it was reviewed. This will help alleviate any potential future claims of one spouse feeling pressured to sign something that they might not understand or agree with.

If you are considering entering into a prenup, you should make sure it is done right. At Desert View Law, our dedicated attorneys can draft an enforceable prenuptial agreement to meet your specific wants and needs, based on your specific circumstances. Contact our Tucson office today to schedule your free 30-minute consultation.