Married couples often agree to share their property, assets, finances, and debts, while other married couples intend to keep their property, assets, finances, and debts separate and do not share accounts. However, Arizona law will presume an intent to share those assets and debts unless the parties have an enforceable written contract not to share them. Without such a contract, money earned, assets acquired, and debts incurred during the marriage will generally be presumed to belong to both parties, even if only one spouse’s name is on the account.
The safest way to ensure that the parties’ intention to keep their assets and debts separate, and/or to define how their assets and debts will be split in the event of a dissolution/divorce or legal separation, is with a properly written document. If the parties enter into this agreement before they are married, it is called a prenuptial/premarital agreement, or “prenup.” If the parties enter into this agreement, it is called a postnuptial agreement or “postnup.”
Prenups and postnups help provide couples with security and certainty and can also help minimize conflict during an already stressful divorce or separation. Issues such as the award of bank accounts, retirement assets, credit card debt, real property, and even spousal support can be addressed in this agreement. Child Support, however, cannot be addressed in advance of the dissolution or legal separation.
If your fiance or spouse has asked you to consider or sign a prenup or postnup, you should consult with an Arizona family law attorney in order to ensure that your rights are being protected and that your intentions are clearly specified. You should not rely on the other party or their attorney to protect your rights, and your decision not to have your own lawyer review the document will not be a defense or make the agreement unenforceable.
If these marital agreements are not drafted and executed properly, however, they may not be enforceable in the event of a dissolution/divorce or legal separation. If you are considering creating a marital agreement with your fiancé or spouse, it is important that you consult with an experienced Arizona family law attorney for detailed guidance. At the Law Offices of Vescio & Seifert, P.C., we are committed to offering knowledgeable legal counsel and reliable advocacy to individuals and families in the legal matters of marital agreements. Our trusted lawyers are available to discuss your unique situation and walk you through every legal step involved in drafting prenuptial and postnuptial agreements.
The Law Offices of Vescio & Seifert, P.C. proudly serves clients across Glendale and Tucson, Arizona, and throughout the State of Arizona.
An experienced family law attorney can help draw up your premarital or postmarital agreement and help you make informed decisions.
Yes, prenuptial and postnuptial agreements can be modified if both spouses agree to modify them in writing. To modify or prenup or a postnup, you can either make adjustments to the existing marital agreement or sign a separate contract that changes the terms and provisions of the existing premarital agreement.
Your attorney will help draft an addendum to the original agreement. Once executed, any new changes – terms, provisions, or conditions – will become a part of the agreement and will replace any prior terms that conflict with the new ones.
A skilled Arizona family law attorney can help review or draft a prenup or postnup to fit your unique needs and ensure that it is legally binding and enforceable.
When planning to get married you also need to prepare for the unexpected events of life. If you are already married but your financial circumstances are changing, then you should consider a postnup. In the event of a marital breakdown, having a prenup or postnup agreement in place can help you establish property rights, protect accumulated assets, achieve financial protection, and settle disputes during the marital dissolution proceedings. A knowledgeable family law attorney can offer you the reliable legal guidance and advocacy you need when creating your marital agreements.
At the Law Offices of Vescio & Seifert, P.C., we have the diligence, resources, and experience to advise and guide individuals and couples through the complexities involved in drafting prenuptial and postnuptial agreements. Our trusted attorneys will evaluate the details of your unique situation, enlighten you about the benefits and risks, and explore your available legal options. As your legal counsel, we will craft a strategic plan to protect your assets, finances, property, and future.