What is a prenuptial agreement?

A prenuptial agreement, also known as a “prenup”, is a contract entered into by two people before they get married. This agreement allows the couple to determine the division of their assets and debts in case of a divorce. It also outlines the rights and responsibilities of each spouse in matters of money, property, and other assets. In Arizona, prenuptial agreements are recognized and enforced if they meet certain conditions. These conditions include: both parties fully understanding the agreement, both parties voluntarily agreeing to the contract, and both parties having legal representation from separate attorneys. Additionally, Arizona law prohibits prenuptial agreements from being legally binding if they override the state’s existing laws on division of assets or alimony. Prenuptial agreements are not mandatory in Arizona, but they can be a valuable way for couples to prepare for potential legal issues in case of a divorce. They allow couples to clearly express their individual wishes for division of assets and debts, as well as either side’s potential rights to alimony and child support in the event a divorce occurs. They are also useful for setting expectations around financial responsibility during the marriage. Consulting an attorney is important for couples who are interested in entering a prenuptial agreement in Arizona.

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What is a prenuptial agreement?

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