Marriages do not last forever. Prior to walking down the aisle, the Arizona couple typically dreams of living happily ever after. Unfortunately, this dream will one day end – either with death or divorce. In preparation for this inevitable end, a prenuptial agreement can be a useful tool in planning ahead to be certain that specific assets are appropriately distributed. Family law attorneys can assist in this matter.
In today’s society, many couples who enter marriage already have children from a previous relationship. The parent may want to make sure that these children receive certain assets upon the death of the parent. For example, money may be set aside in an account for the children or a piece of property may have been in the family for generations. In these cases, these wishes can be spelled out in a prenuptial agreement.
There is also the possibility that the marriage will end in divorce. While this is not the plan at the beginning, depending upon each individual’s assets and liabilities, it may be a good idea to go ahead and address this possibility prior to the wedding. This decision will also open the door for the couple to have a discussion regarding their financial goals, spending habits, current assets, and current liabilities.
With the prenuptial agreement, full disclosure is a requirement. Additionally, the topic should be broached with enough time to adequately review the situation prior to the Arizona couple’s wedding date. Each individual will want to consult his or her own family law attorney when drafting such a document.