Prenuptial and Postnuptial Agreements
A prenuptial agreement or "prenup" (also called a premarital agreement) is a private agreement between a couple contemplating marriage. The couple generally arranges, in advance, financial matters in the event of death or divorce. "Lifestyle" or non-financial topics also can also be included. A valid and enforceable prenuptial agreement overrides and preempts Arizona state family and probate law that otherwise would apply.
At NRG, we are well-versed at dealing with all of the issues that may arise when dealing with prenuptial agreements. Whether we are drafting, negotiating or litigating the validity and enforceability of a prenuptial agreement, NRG attorneys are completely apprised and up-to-date concerning all issues that may arise during the course of such representation.
Prenuptial agreements used to be play things of the rich and famous. Today, however, they are becoming commonplace in the landscape of middle-class America. In the last 20 years the number of prenuptial agreements has quintupled, and by 2020, it is expected that the majority of couples will be preceded down the aisle by prenuptial agreements.
Postnuptial, midnuptial or internuptial agreements are contracts between spouses. They are similar to prenuptial agreements except they are signed during marriage. They are dissimilar to separation agreements, because they are not signed in contemplation of a separation or a divorce. They are entered into in contemplation of an ongoing, viable marriage, and must be carefully drafted to ensure validity and enforceability.
Increasingly today, same-same or non-married couples are consummating cohabitation or living together agreements. A cohabitation agreement typically tries to establish contractually for the parties the rights and obligations that by custom, statute and prenuptial agreements accrue to married people, especially with regard to the division of real property and other assets.
Prenuptial agreements are valid in Arizona pursuant to statute. Arizona case law is sufficiently developed that a well-drafted prenuptial agreement, properly prepared by counsel for both parties, can withstand the toughest scrutiny.
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