To Prenup or not to Prenup in Mesa, AZ?
Whether or not to sign a prenuptial agreement before marriage is a very personal choice and some people have strong feelings about it one way or the other. While a prenuptial agreement or “prenup” doesn’t feel like a romantic part of the wedding planning compared to choosing flowers, there are things to decide before the wedding, and the couple would do best to remove the rose colored glasses for just a little while.
Sometimes couples are in such a state of bliss that they give no thought to the practical aspects of marriage. Even if they decide against a prenup, a couple needs to openly discuss their financial situations and how they would like to handle finances in the future. Obviously, you will need to discuss finances throughout your marriage, so ideally you should find out if you are on the same page before you marry. This can prevent many conflicts in the future. Some of the advantages to signing a prenup include:
- Safeguarding each person’s separate property
- Protecting your estate plans
- Delineating which assets are marital assets
- Spelling out any particular agreements between the two of you
- Determining accepted procedures for making future decisions
- Should the worst case scenario happen and you divorce, a prenup can reduce contention and save costs
If a couple can look at things realistically long enough to realize that marriage is a partnership that will require a great deal of negotiation it will make for a better marriage. The matters established in a prenup are the matters you will deal with in your marriage anyway, such as ownership of property and debt responsibility.The financial partnership of marriage is often where the most pitfalls are found. If you have questions, My AZ Lawyers will gladly assist you in determining if a prenup is a valid option for your upcoming union.
Along with the advantages every situation brings some disadvantages. Obviously, the very idea of divorce will be dis-tasteful to someone planning their fairytale wedding. Unfortunately, marriage isn’t a fairytale and divorce can happen to anyone. You will have to decide if hashing out the specifics of a prenup will put undue stress on your relationship during what should be a happy time.
In addition, if you live in a community property state, you may not need a prenup to accomplish your purpose. In community property states the law maintains that any assets each of you owned before marriage are separate from those amassed during the marriage. Assets amassed during the marriage are considered community property and will be divided equally between the two of you.
On the other hand, there are still circumstances that may call for a prenup, such as if you possess a great deal of assets, earn a high salary or own a business. Our Mesa divorce and family law attorneys have a great deal of experience in drawing up prenuptial agreements, so they can answer any questions you may have and provide guidance in making the best choice. For more information and to schedule an appointment contact us today!
My AZ Lawyers
1731 West Baseline Rd., Suite #100
Mesa, AZ 85202
Office: (480) 448-9800
20325 N 51st Avenue Suite #134, Building 5
Glendale, AZ 85308
Office: (602) 509-0955
2 East Congress St., Suite #900-6A
Tucson, AZ 85701
Office: (520) 441-1450
12725 W. Indian School Rd., Ste E, #101
Avondale, AZ 85392
Office: (623) 399-4222