Do I really need a Prenuptial Agreement?
Not all Arizona couples planning to marry need a prenuptial agreement, also known as a “prenup” agreement. However, you don’t need to be wealthy to have a prenuptial agreement. Many couples who could benefit from a prenuptial agreement don’t consider one. Here are a few reasons they should:
First, Arizona is a community property state. Everything that goes into the marital pot is subject to equal division at divorce, whether that would be fair or not. A prenuptial agreement simply allows you to plan for property division based on what you and your spouse would consider fair and address the property items you both have prior to marriage and what would happen to those items in the event of a separation or divorce.
The second reason to consider a prenuptial agreement in Arizona is simply that it’s far less expensive and stressful to agree on something now than it is to fight about it later. This is especially true in the case of businesses or other complex assets. Rather than spending thousands, or tens of thousands, of dollars on appraisals and legal fees in a divorce, for far less you can reach a reasoned, logical agreement on many issues to avoid potential litigation.
Lastly, prenuptial agreements can actually help a marriage succeed. If you and your intended spouse learn to negotiate financial issues and agreements before marriage by creating a detailed agreement, you’ve created a blueprint for successful financial communication during marriage.