ARS 25-202 Enforcement of Premarital Agreements
- A premarital agreement must be in writing and signed by both parties. The agreement is enforceable without consideration.
- The agreement becomes effective on marriage of the parties.
- The agreement is not enforceable if the person against whom enforcement is sought proves either of the following:
- The person did not execute the agreement voluntarily.
- The agreement was unconscionable when it was executed and before execution of the agreement that person:
- Was not provided a fair and reasonable disclosure of the property or financial obligations of the other party.
- Did not voluntarily and expressly waive, in writing, any right to disclosure of the property or financial obligations of the other party beyond the disclosure provided.
- Did not have, or reasonably could not have had, an adequate knowledge of the property or financial obligations of the other party.
- If a provision of a premarital agreement modifies or eliminates spousal support and that modification or elimination causes one party to the agreement to be eligible for support under a program of public assistance at the time of separation or marital dissolution, a court, notwithstanding the terms of the agreement, may require the other party to provide support to the extent necessary to avoid that eligibility.
- An issue of unconscionability of a premarital agreement shall be decided by the court as a matter of law.
- If a marriage is determined to be void, an agreement that would otherwise have been a premarital agreement is enforceable only to the extent necessary to avoid an inequitable result.
A prenup can cover the following:
- Existing children
- Plans for estates
- Property held in the family
- Financial assets
- Debt liability
- Property division
- Saving and spending plans
- Individual and group property ownership
- Individual and group business ownership
- An agreement once you are married is known as a postnuptial agreement and the terms are nearly identical to a prenup.
It is a good idea to have a waiting period to finalize a prenup and consult an attorney who can describe the legal terms of the contact to you. The best prenups are arranged some time before the marriage so everyone can be fully aware of the terms.
Prenuptial Agreement Benefits
- When they are children from previous marriages, a prenuptial agreement can state what will happen to assets on the death of a parent, so the children are provided for.
- The opportunity to examine financial circumstances and agree on financial responsibilities.
- To avoid arguments in divorce cases.
- To protect one another from each other’s debts.
- If you do not make a prenuptial agreement, the law in your state will determined the division of property while you were married as well as what happens with your assets after your death, or even following the divorce process.
Amendment or revocation of agreement
Arizona Revised Statute 25-204 states: After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by the parties. The amended agreement or the revocation is enforceable without consideration.
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