When Arizona couples are planning a wedding, often times no one wants to bring up two words: prenuptial agreement. Many fear a prenuptial agreement is a recipe for a break up or divorce, while others falsely believe these types of agreements are only for the rich and famous. However, this is simply not the case as prenuptial agreements are a good idea for all soon-to-be married couples.
Of course, no couple wants to think about the possibility of divorce. But the reality of the situation is that prenuptial agreements have the potential to actually strengthen a relationship as it makes sure both soon-to-be spouses agree about finances before going into the marriage.
A prenuptial agreement forces people to consider their assets before marriage. This can include actual cash, but also assets like a college degree or a new business that could end up netting a huge return in the future. For couples with children from previous relationships, a prenuptial agreement can also protect their interests.
However, it should be noted that for spouses who are already married without a prenuptial agreement, more and more married couples have started to create postnuptial agreements. Essentially, this type of agreement is the same thing as it dictates how assets would be divided up in the case of a divorce. The main difference is that the agreement is drafted after a couple is already married.
In either of these situations -- whether it be a prenuptial agreement or a postnuptial agreement -- it's important to make sure that both spouses interests are protected and that the agreement is fair to both parties. Additionally, if later on down the road issues arise regarding the validity of the agreement, a family law attorney with experience handling cases related to divorce and property division can be of assistance.
Source: DailyFinance, "Could a Prenup Make Your Relationship Stronger?" Dan Caplinger, June 22, 2012