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Certain situations make prenuptial agreements useful

On Behalf of | Mar 5, 2020 | Divorce

In Arizona, divorce and its impact is a concern for many people even before they get married. This will frequently lead to prenuptial agreements. While people of significant means were once the primary users of these documents, couples in a variety of financial situations are now getting prenuptial agreements.

There are common concerns that may warrant a prenuptial agreement. People who have significant wealth might want to think about creating one. Some people are subtly or overtly pressured by family members who have a family business. For those who are planning a business or have one in its infancy, this legal protection could be key. People with a product or idea should protect it even if they are working together. A prenuptial agreement can accomplish this.

Some couples are not on their first marriage. If they have children from a previous marriage or relationship, a prenuptial agreement is often essential to protect their children if there is divorce or death. Regarding death, a prenuptial agreement can be beneficial for the spouse who had fewer assets entering the marriage. This adds an extra layer to estate plans that could already have addressed it. Finally, a prenuptial agreement commonly mitigates an extended dispute in a divorce. The document will detail how the assets are divided and the parameters if the marriage fails, possibly saving time and money.

Prenuptial agreements can be used in myriad circumstances. This is relevant before, during and at the end of a marriage. It includes spousal support, property division and more. Whether it is from the perspective of the spouse with greater assets or the spouse entering the marriage with less, legal help may be imperative with the complex terrain of a prenuptial agreement. A law firm experienced in family law may offer assistance.