Arizona Marital Agreements Attorney
Creating a marital agreement can not only protect you during trying times, but it can strengthen a marriage. By disclosing the finances of both parties before or during a marriage and making arrangements ahead of time, a marital agreement can build trust through openness and transparency. Prenuptial agreements and postnuptial agreements also afford both parties important protections that can help establish predictability in the event of a separation or divorce.
The team at Desert Legal Group understands the importance of protecting the things that matter most to you, even if you do not anticipate divorce. A well-drafted and properly executed marital agreement can be an important document that protects both spouses’ interests, laying the groundwork for a more stable, secure future together.
Who Can Benefit From a Marital Agreement?
Anyone who is engaged to be married can benefit from a prenuptial agreement, but there are certain situations where a prenuptial agreement may be recommended.Unequal Wealth
One example involves two partners of disparate financial status. Someone who has built significant wealth or inherited assets may seek to protect those possessions in the event of a divorce. The lower wage earner, on the other hand, may seek to ensure spousal maintenance.
Business Owners
An individual may also hire a premarital agreement attorney if they own a business. The agreement would not only protect the business but also any assets, including employees. In the event of a divorce, the divorcing couple may be required to divide assets equitably. In some cases, this could mean that a business must be liquidated and shared between the spouses. Although this is not always the case, it is typically prudent for the business owner to protect their company with the help of a premarital agreement.
Shareholders
Similarly, if either you or your soon-to-be spouse is a shareholder in a firm, a marital agreement can protect those shares in the event of a divorce. Anyone who is a major shareholder in a firm has a significant stake in that company, and retaining ownership over those shares can help ensure stability for the company in question.
People Facing Life or Income Changes
If either partner is positioned to begin a lucrative career or inherit a large amount of money, those could also be valid reasons to hire a family law attorney. People who are near retirement can also benefit from a marital agreement as a means of protecting their retirement account.
Parents
There are plenty of reasons why parents pursue marital agreements. They can protect property that is designated for children from previous marriages. These agreements can be narrowly drafted to protect certain assets for current children while allowing both partners to share any marital assets and property they acquire during the marriage.
Benefits of a Marital Agreement
At Desert Legal Group, our compassionate and empathetic lawyers understand that going through a divorce can be an incredibly stressful event. One way to reduce the disruption that can accompany a divorce is by hiring a premarital agreement attorney who can work with you and your partner to draft and execute a prenuptial or postnuptial agreement. However, each spouse should have their own representation to ensure the agreement is fair to both parties.
A significant benefit of a marital agreement is its customizable nature. The agreement can be narrowly focused on protecting assets for children from a previous marriage or limited to protecting ownership of a business or shares of stocks.
In many cases, a marriage agreement can strengthen and protect a marriage. The process of drafting a marital agreement and disclosing personal information encourages open communication between partners about their financial and personal expectations. This clarity can foster trust and prevent misunderstandings.
If the marriage is dissolved sometime in the future, both spouses would know what to expect. The lawyers at Desert Legal Group can customize your marital agreement so your divorce can proceed smoothly rather than becoming complex, costly, and contentious.
Prenuptial Agreement vs. Postnuptial Agreement
Many people are familiar with prenuptial agreements. However, prenuptials are not the only type of marital agreement. Married couples who did not sign a prenuptial agreement can hire a family law attorney to draft a postnuptial agreement that works much like a prenuptial. The main difference between the two options is that a prenuptial agreement must be signed prior to the marriage, while a postnuptial agreement is signed during the marriage.
Changing financial situations can necessitate a postnuptial agreement. When one spouse incurs significant debt or comes into significant wealth through business dealings, that can change the dynamics between the partners. A postnuptial agreement can help to establish the basic structure of how the spouses will navigate those changes.
A postnuptial agreement can also be used to clarify responsibilities within the marriage. In many cases, it can strengthen a marriage by establishing clear expectations and disclosing the assets and debts of both parties.
How Desert Legal Group Can Help You Navigate Your Marital Agreement
If you are searching for a trusted and compassionate team of lawyers to guide you through the marital agreement process, you can rely on Desert Legal Group. Many couples have sought our legal services because we are also parents and understand the importance of protecting and providing for your children. Marital agreements are one of the best ways you can protect your assets and preserve them for your current or future children.
We never treat any two cases the same way; instead, we tailor our services to meet the needs of each client. Our clients appreciate our attention to detail, our modern approach to family law, and our tireless focus on protecting the rights of our clients. Whether you are looking for an attorney to help you understand the implications of a current or future marital agreement, you can rely on our firm to provide exceptional legal services for you and your family.
Is It Ever Too Late to Get a Prenuptial Agreement?
While you can only create a prenuptial agreement before marriage, it is never too late to hire an attorney and draft a marital agreement like a postnuptial agreement. In fact, many couples find that there are benefits to getting a postnuptial agreement.
Nearing retirement is one such example. If you have a sizable retirement account, you can protect those savings through a postnuptial agreement. These agreements are completely customizable.
If one partner incurred considerable debt in recent years, the other spouse could potentially incur a portion of that amount in the event of a divorce. A postnuptial agreement can protect the other partner from unnecessary hardships.
While some people think these types of agreements are a sign of a weak marriage, the truth is that openness, communication, and transparency can strengthen a relationship. Setting clear expectations for both spouses can be a significant benefit.
How the Marital Agreement Process Works
If you are planning to have an attorney draft a marital agreement, the first steps involve gathering financial statements, consulting with an attorney, and beginning the process of discussing what to include with your spouse or soon-to-be spouse. Factors that can make the marital agreement process more complex include the wealth of both partners, the size of the business, and even the number of children from past or current relationships.
For the marital agreement to be lawfully executed, both parties must be fully aware of the financial status of their partner and the implications of signing the agreement. An attorney can clearly explain how marital agreements work and ensure that both parties have similar goals for their own version. If there is ever a dispute in the future over the validity of the document, attorneys can testify that both partners were fully informed about the process.
After both parties fully disclose their assets and debts, an attorney can draft the document in accordance with state guidelines. Once the document is prepared, the attorney can once again explain the details of the agreement before both parties sign it. The attorneys at Desert Legal Group can help you draft a marital agreement that protects your assets and withstands the scrutiny of Arizona courts.
Why Legal Representation Matters
A prenuptial or postnuptial agreement is a serious and binding legal document that can significantly affect your life and livelihood. If you are planning to sign this type of agreement, it is crucial that you have legal representation on your side. The attorneys at Desert Legal Group can help you through the entire process to ensure that the document serves your best interests.
When you work with an attorney to create your marital agreement, you can also improve the chances that your marital agreement holds up in court. At Desert Legal Group, we have a thorough understanding of Arizona state law and the specific language that must be used when drafting and executing these important legal documents.
Are Marital Agreements Legally Binding?
A prenuptial agreement is legally binding in court and enforceable as long as certain requirements are met.
In order for a court to enforce the agreement, the document must be:
- In writing and signed by both parties
- Drafted as part of a lawful marriage
- Willingly entered into by both parties
- Signed after both parties fully disclosed their assets and debts to the other signatory
- Generally fair to both parties
Two common reasons that a marital agreement may not be seen as valid by a court are when one party does not know the full value of the other party’s assets and debts or when one party signs the agreement under duress. Any marital agreement signed before or during an invalid marriage would also be unenforceable.
If you have concerns about the validity of a marital agreement you signed or are about to sign, Desert Legal Group is here to help. Our passionate legal team has many years of experience helping couples and individuals better understand these important agreements. Our lawyers take pride in providing personalized legal services.
Marital Agreement FAQs
At Desert Legal Group, we provide clear, compassionate guidance in matters related to marital agreements. Before you start the process of creating an agreement, it’s important to understand the answers to certain frequently asked questions.
One common myth about a prenuptial agreement is that a prenup or any type of marital agreement is only for weak marriages. The truth is that a prenuptial agreement can strengthen a marriage by taking some of the uncertainty of marriage out of the agreement. A marital agreement also shows that both partners are serious about protecting certain things that are important to them.
Another myth is that prenups are only for wealthy people. Anyone can hire an attorney to draft a prenup and anyone can benefit from such an agreement, regardless of their economic status.
A prenuptial agreement is enforceable in court if it is lawfully drafted. The document must also be voluntarily signed by both parties and be in writing. The marital agreement must be signed after both parties have a full and accurate understanding of the other partner’s assets and debts. It must also be deemed generally fair to both spouses.
If either party withholds important information, that could void the agreement. One way you can make sure that your marital agreement holds up in court is by seeking legal counsel to guide you through the process.
A marital agreement cannot address child custody. Parental rights are fundamental, and no document can supersede the court’s ability to enforce and protect those important rights. The courts also reserve the right to set child support based on the best interest of the child.
Your family law attorney can help you understand what topics can and cannot be addressed through a marital agreement. The documents are typically solely focused on finances and the transfer of debt and property.
In some cases, both parents can request that child support be waived. For example, there may be less justification for child support in cases where parents have a 50-50 parenting plan and make similar incomes. Ultimately, a judge must approve the order and ensure that the agreement serves the best interest of the child.
Child custody is one factor but not the sole factor that a judge may consider when determining whether to order child support payments and how much those payments should be. However, when one parent is tasked with the majority of child-rearing time, there are usually financial costs associated with that responsibility. The court may order the non-custodial parent in those situations to financially contribute to the other parent to help even the financial burden of raising the child.
Call Desert Legal Group for a Consultation Today
If you are planning on signing a prenuptial or postnuptial agreement, you need legal representation you can trust. At Desert Legal Group, we take pride in the high quality of legal services that we provide our clients. We look forward to serving you as you work to protect your life and strengthen your marriage. Contact our office to schedule your consultation today.