In most individuals’ lives getting married is a huge milestone. Most people who get married look forward to a great journey together after the wedding. One of the family law issues that you should carefully consider before tying the knot is getting you and your fiancé to draft and sign a prenuptial agreement. Our qualified Glendale prenuptial agreement lawyers recommend that you consider drafting a prenuptial agreement before you tie the knot. Drafting a prenuptial agreement is not a sign of mistrust or preparing your marriage for failure. However, a prenuptial agreement is a preventative measure that can be used to help protect your assets in the event that your marriage comes to an end.
A prenup or prenuptial agreement is a legally binding contract that is between two people that are getting married. The Arizona Uniform Premarital Agreement Act governs how these agreements are created and enforced. ARS § 25-201. The agreements usually cover matters to do with finances and property division. If during a divorce the prenuptial agreement is enforced, there are laws and regulations pertaining to the enforcement and legality of the contract that will need to be followed. We can help we have hands-on experience in family law. Talk to an attorney at Monahan Law Firm if you are thinking about drafting a prenuptial agreement. Let us make what could have been a difficult experience or challenging time a breeze.
What Does a Prenuptial Agreement Cover?
A lot of couples that are getting married now prefer to have a prenuptial agreement in place before they say I do. Even as this is the case it is not every couple that needs to sign a prenup. It is important that you understand what a prenuptial agreement is and what it contains so you can decide if you need one.
What Is In A Prenup?
Prenuptial agreements are put in place with an aim to define the legal rights as well as the obligation of both parties in the case where a divorce takes place. The marital rights are inclusive of repayments of debts, spousal support, and ownership of property. We have mentioned some of the things that you are likely to find in a prenuptial agreement:
- The entitlement of each spouse to spousal support.
- Protection from the debt of the other spouse.
- The state law that is governing the prenuptial agreement.
- The couple's right to separate and marital property individually.
- Upon death, divorce, or separation how division of property and division of assets would occur.
- The right of each spouse to manage, sell, buy, or transfer assets and property during the period they are married to one another.
- All other Issues that the couple decide to agree on.
What a Prenuptial Agreement Does Not Cover
If you are thinking of having a prenuptial agreement drafted it is important for you to realize what the agreement does not entail. A prenup will not cover these family law matters:
- The premarital debts of either spouse.
- Child support.
- A prenuptial agreement can address spousal maintenance and even waive a person’s right to it subject to public policy considerations.
- Child custody agreement, parenting time, and visitation issues.
- The daily household issues.
- Anything that is prohibited by the law.
- No matter the size of your property or assets a prenuptial agreement can protect them in case you get divorced. It is not possible to tell the future but in the case where divorce occurs, you will be able to secure your finances and ensure your financial freedom.
- A family law attorney will be able to help you to determine if you would be able to benefit from getting a prenuptial agreement.
At Monahan law firm we offer prenuptial agreement services. In the event that we get to draft your prenup, we make sure that we come up with a document that will hold up in the court. Our Glendale Arizona prenuptial lawyer will ensure that you are secured in all issues pertaining to your prenup.
When Can a Prenup Be Voided?
There are three common grounds that can lead to the nullification of a prenup. They are duress or coercion, failure to disclose, and unconscionability.
It is important for there to be disclosure in every prenuptial agreement. How property division and alimony will be decided will depend on the income of your spouse and their wealth. If they hid their properties or failed to tell you about any valuable business that they have it can be argued that you did not know the rights that you gave up when you signed the agreement.
Unconscionability can be argued in the case where the agreement is clearly unfair to one of the parties involved. Even so, you should note that the agreement will not be automatically deemed unconscionable just because a spouse is getting more than the other under the set terms.
The prenup can be invalidated as a result of duress or coercion. In a situation where the prenup is presented to a party before they get married, it can show that the party did not have enough time to review the agreement fully. This can lead to the presumption that one of the individuals felt forced to sign the agreement so the wedding can move forward.
If through the evidence you have you have strong reasons to believe that you can challenge the contents of your prenup you can get in touch with our divorce attorney and we can discuss what’s in your prenup and come up with the right argument to challenge the prenuptial agreement.
Can You Modify a Prenup?
A prenuptial agreement can be modified at any time. Even as this is the case the prenup modification will need for both parties to be in agreement since they will both need to sign the document. If both parties are seeking to make amendments the modification be a difficult process. A Glendale family law attorney can walk you through the process, review the document for you, and proceed to have it notarized for you. In the case where your spouse is not willing to modify the prenuptial agreement, you can pursue other options.
Why Have a Lawyer Draft Your Prenup
When drafting a prenup you want to ensure that you have three things:
- An experienced lawyer will help ensure that your agreement does not miss details that impact its enforceability.
- Thoroughness and fairness. An experienced attorney will help you to understand if what you are signing is fair.
- Not having legal help through the entire process can make the process seem unfair which may lead to the judge not enforcing the agreement
Getting married is a major life decision. How you would want to handle your financial matters in case your marriage goes through a divorce process is also important. Avoid risking your financial future and going through unnecessary legal battles and a lengthy process of divorce by failing to get legal help with your prenuptial agreement. Call Monahan Law Firm's legal team and schedule an initial consultation and get legal representation and legal guidance for your legal matter.