Every significant transaction should be reduced to writing. When you make an agreement with another person or entity, the typical way to memorialize that agreement is by having both parties sign a contract. The contract will set forth the rights and obligations of each party, and is looked to for answers when a dispute arises. In family law matters, a common contract is a prenuptial agreement. The days of these types of agreements being only for the very wealthy are long gone, and a prenuptial agreement can actually be written for most marriages. Some research even shows a prenuptial agreement can strengthen a marriage and decrease the likelihood of divorce.
The Arizona Uniform Premarital Agreement Act sets forth the kinds of things parties can include in a prenuptial agreement. The following is not an exhaustive list, but is representative of the most commonly included items:
- Division of assets
- Division of debts
- The right to buy, sell, or otherwise dispose of property
One thing that is not permitted to be included in a premarital agreement is any provision regarding the right of a child to support. A premarital agreement must also be in writing to be valid and enforceable, and must be the voluntary act of each party to the agreement. Determining what to include in your prenuptial agreement depends on the specific facts of your case. No two cases are alike, and your circumstances deserve individualized attention. We work with you to draft a document that is all inclusive of your needs, and help you identify overlooked issues. When done right, a prenuptial agreement provides a clear understanding on significant issues between the parties. For some, knowing what to expect in the event of dissolution of marriage is a comfort and can actually make the bond between the parties stronger. While not necessarily a romantic notion, a prenuptial agreement can be an important part of any marriage.
For more information about whether you need a prenuptial agreement, call a trained legal professional. Let us put our experience to work for you. Call the Sampair Group in Phoenix and the West Valley today to schedule your appointment.