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What is a Pre-Nuptial Agreement?
A prenuptial agreement, also known as a prenup, is a written agreement between two parties before they are married. In general, prenups identify property brought into the marriage, sole and separate property, property to be co-mingled, property distribution upon death of a spouse, and usually specifies what each person's property rights will be after the marriage, discloses income status of each party and the debts/liabilities of each party. A post-nuptial agreement is done during the marriage versus prior to the marriage.
What happens if we do not do a prenup?
If you don't make a prenuptial agreement, state laws will determine who owns the property that you acquire during your marriage, as well as what happens to that property at divorce or death. In Arizona, property that is acquired during your marriage is known as community property. State law may even determine what happens to some of the property you owned before you were married. You will want to allow sufficient time for each party to consider the prenup provisions. You want to allow a reasonable amount of time before the wedding for each party to review and understand what they are signing. There have been situations where courts have determined a prenup was not valid as it was signed too close to the wedding, etc.
How much does a prenup cost?
The cost will depend on who prepares the documents. For example, a law firm may charge $1,000 to $10,000 to prepare the agreement. Or, you can do it yourself but still have the agreement professionally prepared by Arizona Legal SMART for a lower cost.
Our Professional Pre-Nuptial Document Preparation Fee is only $595.00
5 Easy Steps to Pre-Nuptial Document Preparation:
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