Prenuptial Agreements are an important document that can save you money and time in litigation costs in the event of divorce. Nobody wants to plan for divorce, but it’s probably one of the smartest things you can do in your wedding preparations.
It’s not romantic, but it’s practical and smart. A Prenuptial Agreement can determine the parties’ rights at the time of divorce before even getting married. Things such as each party’s rights to business interests, retirement accounts, property, debts, spousal maintenance/alimony, and who pays for attorneys’ fees in the event of divorce can be included in your Prenuptial Agreement.
While no one goes in to a marriage planning to get a divorce, the statistics show that more than half of marriages end in divorce. People change. Circumstances change. Life throws us curveballs. Just like any partnership that someone would enter in to, an exit plan is one of the best things you can do.
Prenuptial Agreements are governed by statute in Arizona. A Prenuptial Agreement should not be downloaded off the internet as a template. Certain provisions are required to be included in a Prenuptial Agreement and if you’re going to go through the trouble of preparing one, you want to be sure that it will enforceable if needed. You should also make plenty of copies of it after you have executed it. If you only have one copy, and it disappears when one party moves out, you want to make sure that you have plenty of back-ups available.
If you have any questions or are considering getting married, speak with an experienced attorney at Trullinger & Wenk to have a Prenuptial Agreement prepared to fit your unique situation.