Prenuptial agreements typically last for the lifetime of a marriage. In some cases, though, couples will include a “sunset” clause where the agreement is no longer valid after a certain amount of time.
What Does A Prenup Cover?
Prenup agreements can include the following items:
- Estate plans.
- Spousal support or alimony.
- Child(s) from a previous marriage.
- Family property.
- Liability of debt/assets.
- Financial obligations.
- Division of property.
- Separate and marital property.
- Business ownership.
It is crucial to work with an experienced attorney who is knowledgeable in marital law, specifically in the state of Arizona. High Desert Family Law Group can help you create a prenuptial contract that best fits your relationship and marital expectations. Contact us today!
Can You Cancel A Prenup?
If the couple wishes to terminate the prenuptial agreement, they can do so in writing. A prenup can be changed at any time, but both parties must agreed to said changes in writing. When you wish to simply change a few items in the agreement, the rest of the prenup still stands.
Can You Sign A Prenup After You Are Married?
Some couples do decide to get married before a prenuptial agreement is in place. This is called a postnuptial agreement, which features almost an identical structure to that of a prenuptial agreement. According to Avvo, it can take anywhere from a few minutes to a few months to finalize these agreements.
Sunset Clauses In Prenup Agreements
Sunset clauses, also known as sunset provisions, are essentially expiration dates of a prenuptial agreement. These clauses can help to give you and your partner peace of mind and security before marriage. Essentially, your sunset clause allows your prenup to terminate after an agreed-upon amount of time.
For instance, your prenup may expire after 10 or 15 years of marriage. Once married, individual debt, assets, wealth, and property becomes shared marital wealth. This means the property will be divided equally in the event of a divorce. In some cases, one partner risks losing a lot more than the other individual if the relationship falls apart. The bottom line is your prenup should not expire unless you want it to. A sunset clause can be put in place to terminate the prenup after a certain amount of specified time.
Conclusion
Prenups are undoubtedly a worthwhile investment that won’t expire automatically. Starting your marriage by being open and honest about your financial situation is crucial. No one wants to have any doubts or uncertainties about their partner heading into a union. Think of a prenuptial agreement as life insurance for your marriage.
Source: “Do Prenups Expire?” Hello Prenup https://helloprenup.com/prenuptial-agreements/do-prenups-expire/
Divorce Attorneys In Scottsdale, AZ
The High Desert Family Law Group should be your first choice when you need the best divorce lawyer in Scottsdale or Phoenix, Arizona. Our experienced family law attorneys will work with you to obtain the best possible outcome in your situation. Proven trial lawyers in family court, you can trust the firm to represent you fully so you can get on with your life. Call today for your initial consultation.
