Both premarital and postmarital agreements can specify how property is to be divided up in the event that a couple decides to divorce. These agreements can allow couples to opt out of standard Arizona community property rules and create their own rules for how they will divide their assets. Premarital and postmarital agreements can also contain other provisions addressing spousal support. However, these agreements cannot address issues of child custody, nor can either parent waive or restrict child support obligations since the child is due support and it is a matter of public interest.
Although both a premarital and postmarital agreement can do many of the same things, they are not treated in the same way under Arizona law. It is important to understand the differences between premarital vs. postmarital agreement. A Scottsdale divorce lawyer at Singer Pistiner, P.C. can provide you with the assistance you need to create an enforceable premarital agreement or postmarital agreement that complies with all state laws and that is protective of your financial interests.
What are the Differences Between Premarital vs. Postmarital Agreements?
The most fundamental of the differences between premarital vs. postmarital agreements is that premarital agreements are created before you get married and postmarital agreements are created after a couple has gotten married.
You may decide you want to create a postmarital agreement if you are married and starting to acquire significant assets or if you are starting a business and you want to protect your company in the event that you divorce. Like a premarital agreement, the postmarital agreement can allow you to protect yourself financially and make a future divorce simpler because you and your spouse can negotiate the terms of the agreement while you are getting along and before you decide to end the marriage.
In some cases, postmarital agreements can also help a couple to work out financial issues. If you and your spouse are having disagreements over money, you could divide up your assets and create a postmarital agreement that gives you each certain rights in the event of a divorce. Once money has been taken out of the equation and you have made a plan to no longer be subject to the community property division that is standard in Arizona divorce, you may be able to make things work better in your marriage.
When you do decide to create a postmarital agreement, there are some important differences between premarital vs. postmarital agreements to be aware of. While postmarital and premarital agreements can address similar issues, postmarital agreements are not governed by the Uniform Premarital Agreement Act. The burden of proof for enforcing a premarital agreement is also more strict than the burden applied to premarital agreements. It is imperative you follow all best practices and guidelines for creating the agreement and that you ensure there is no hint of force, coercion, or fraud when entering into the contract.
A Scottsdale, AZ divorce lawyer at Singer Pistiner, P.C. can provide representation to clients in both Phoenix and the Scottsdale area. If you are interested in creating a premarital or postmarital agreement, call us today to learn how we can help.