Can a Premarital Agreement Ever Be Invalid in Arizona?

Can a Premarital Agreement Ever be Invalid in Arizona? www.singerpistiner.com 1

CAN A PREMARITAL AGREEMENT EVER

BE INVALID IN

ARIZONA? “Premarital agreements can also ensure you don’t become

responsible for your spouse’s debt, and can dictate what happens to assets after death”

http://www.singerpistiner.com/



Arizona is a community property state. This means that the laws establish the

rule that all property acquired during a marriage belongs to the husband and the

wife jointly. No matter who was working (or who wasn’t) and no matter who

bought the property or assets, the items belong to both husband and wife. This is

true for houses, cars, bank accounts, antiques and collections and all other

items.

When a couple divorces and the court divides up their property, the community

property will be divided up equitably between each spouse. Unfortunately, this

means that a business you start or other assets that you acquire could be put at

risk. There are ways to protect some property from becoming part of the marital

community and from becoming shared. However, you need to speak with an

experienced divorce and family law professional about your options for protecting

separate property and keeping it safe in case of divorce.


HOW TO KEEP SEPARATE PROPERTY SAFE

Although property acquired during the marriage belongs to the community,

anything that you own and bring into the marriage is considered separate

property. Money, real estate and assets owned prior to marriage that are

classified as

separate property

do not have to be

divided at the time

of a divorce.

A limited amount

of property

acquired during

the marriage may

also be classified

as separate property and thus not part of the marital estate to be divided. If you

invest your separate money and earn interest or other income on it, for example,

then the money that was earned from this investment may be classified as

separate property. Further, if you inherit funds or assets during the course of your

marriage and the money is left only to you, this inheritance may also be

considered separate property.

However, you should not assume that just because property could be classified

as separate that it necessarily will be. You must avoid co-mingling your separate

property with your marital assets if you want to protect it and ensure it does not

become part of the estate that is divided in a divorce.


For example, if you and your spouse buy a home together but you use money

that was yours from before your marriage for the downpayment, you have co-

mingled your separate property and mixed it with marital assets. In order to be

able to have those funds classified as separate at the time of a divorce, you

would need to very clearly

trace back their origins and

provide concrete evidence

that the money should belong

to you alone.

If you owned a house before

marriage and your spouse

worked with you to help you

improve it, putting sweat equity into the home, this could also complicate the

issue of what portion of the home belongs to you alone.

Keeping separate property entirely isolated from marital property is a smart

choice, but it can sometimes be difficult to do this. As a result, you should

consider other options for keeping your separate property safe instead of or in

addition to simply avoiding mixing it with marital assets.

One of the single best options that you have for keeping separate property safe

is to create a premarital agreement or a prenuptial contract. A premarital

agreement will specify what occurs in the event that you and your spouse decide

to end your marriage. While you cannot decide on issues like child custody or

child support in a premarital agreement, you can address both division of assets

and spousal support/alimony.


The premarital

contract should

clearly outline how

property is to be

divided, and the

contract provision

should be written

clearly so that the

court can enforce it.

You will want to have

an experienced attorney help to draft the contract so that you can ensure you

include all necessary clauses that will help to keep your separate property safe.

The agreement should address both property and assets that you own before the

marriage, as well as any future potential expected inheritances. If you have your

own business or are planning on starting a company while you are married, you

will also need to address the issue of business ownership as well so you can

protect yourself. By including provisions on alimony, you can also protect future

income as well as ensuring that your separate property does not end up

belonging to your spouse.

Creating a premarital agreement can be complicated and you want to be

absolutely sure that you meet all legal requirements for a valid contract so the

agreement will be enforced. Get legal help when the contract is created so you

can have the best chance of keeping your separate property safe.


About Singer Pistiner, P.C. In the midst of a family crisis, you may feel like you have nowhere to turn. But there is a solution. At Singer Pistiner, P.C., we will help you to find it. As a small firm, we are able to respond quickly to your needs and concerns. The efficiencies of being a small firm also enable us to provide high-quality legal services at affordable rates.

At Singer Pistiner, P.C., in Phoenix, Arizona, we know that divorce is an emotionally and financially taxing experience. That’s why we provide you with a simple, quick and personalized approach to family law services where you will deal with one attorney who will handle your case from start to finish.

Your Personal Attorneys

Throughout the legal process, our lawyers will keep you informed of important developments. We will return your phone calls, answer your questions and address any additional issues that may arise in the course of your case.

We will devote all of the time and effort needed to achieve the best possible outcome. Our law firm can take your case to family court, which is a part of the Superior Court of Arizona, or handle it through another avenue of resolution such as mediation. In addition to divorce, our lawyers handle paternity, prenuptial agreements, grandparents’ rights, orders of protection, child relocation, and modification and enforcement issues.

In any family law case, your best interests are our overriding concern. Our goal is to find the right solution for you — in an efficient, timely and affordable manner.

FAMILY LAW ATTORNEYS SERVING PHOENIX, GLENDALE, SURPRISE, SCOTTSDALE, TEMPE, CHANDLER AND MESA

If you’d like to know more about how our Phoenix family law firm handles divorce and other family issues, please feel free to call 602-264-0110 or send us an e-mail to schedule a free initial consultation.

Singer Pistiner, P.C. 1 East Camelback Road, Suite 550 Phoenix AZ 85012 Phone: 602-264-0110 Fax: 602-264-0440 Website: www.singerpistiner.com


Can a Premarital Agreement Ever Be Invalid in Arizona?

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