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Arizona Family Law Blog

Why tech founders may want prenuptial agreements

Entrepreneurs may have little or nothing when they decide to get married. However, they may need to obtain a prenuptial agreement if they want to obtain outside investment in their companies. Founders in Arizona and elsewhere should also make sure that they will still have a controlling interest in their businesses if their marriages don't work out. There are many examples of startup founders using custom divorce agreements to protect their companies.

For example, the founder of Oracle Corp. has been divorced several times without ceding shares to his former spouses. If a married individual wants to obtain venture capital, it may be necessary for both marriage partners to sign a consent form. The document clarifies when shares can be sold and the process for appointing board members. Generally, the goal is to ensure that a founder's former spouse doesn't have much power to influence the company after a marriage ends.

When one person keeps the family home in a divorce

Arizona couples who are going through a divorce may need to decide how they will divide their property. If their community property includes a home, they might want to sell it, or one person may want to keep it.

To determine the value of the home, they will need to hire an appraiser. The couple might agree on an appraiser, or they might each want to hire one separately. If the appraisers' valuations vary substantially, a third party may be brought in. With the home valued, the couple can calculate how much equity each person has in the home based on that and the mortgage. The buyer may want to hire a home inspector as well to determine whether repairs need to be made since these may be the responsibility of both parties before the divorce is final. They will need to decide whether the cost of repairs will be removed from what the buyer pays or if they want to work out another way to pay for them.

Prenups can be important to wedding planning

Couples in Arizona planning their weddings may not wish to think much about the possibility of divorce. Still, it can be practical to prepare for a potential worst-case scenario in advance. Given the fact that nearly half of all marriages end in divorce, it can be a conscientious choice to plan for the future. A prenuptial agreement is one important way that engaged couples can plan for divorce while they maintain strong, positive and loving feelings for one another. Just as people put energy into planning their weddings and honeymoons, they can also benefit from paying serious attention to potential future conflicts.

A prenuptial agreement isn't just an option for celebrities or the ultra-wealthy. It also is not designed to benefit just one party at the expense of the other. While a wealthy partner may want to protect family assets, a startup business or an inheritance, the other partner may also wish to build in assurances that protect them in case they stay home to raise children. In order for a prenuptial agreement to be valid in court, both parties must generally be represented in the process to produce a fair outcome.

Paying for your child’s college after a divorce

When you divorce your significant other and the two of you share a child who plans to attend college, you may want to discuss how you plan to finance his or her education before you finalize your divorce. While Arizona does not typically require divorcing couples to hash out exactly how they will finance college, making a plan ahead of time may help eliminate financial uncertainties while ensuring that both parties understand their responsibilities.

If you are going through a divorce and you also need to figure out how to pay for a child’s college education, consider the following.

How to manage the divorce process in healthy manner

The process of divorce can take a severe emotional toll as some Arizona residents who are experiencing divorce have found out. However, there are things each person can do to manage the divorce process that allows them to heal and work toward a better future.

While divorce itself is an emotional process, allowing decisions to be ruled by the intense emotions that accompany it is not the healthiest way to move forward. A better path is for each person to take care of themselves physically and emotionally. Physically, exercise can provide a healthy outlet for managing intense feelings while at the same time taking care of the body. Emotionally, reaching out to friends and family for support is important during this period. However, talking to a counselor can also be helpful as counselors have professional experience supporting people who go through situations such as divorce. Another way to take care emotionally is by embracing new, healthy experiences that have nothing to do with an ex-spouse. Focusing on the things that matter, such as family or career, can also help during the divorce process.

The force behind the rise in prenups

Prenuptial agreements could sometimes be a touchy subject in the past, but research indicates that modern audiences may be more agreeable to these legal documents. Arizona residents might like to know more about who is using prenups more and why.

An American Academy of Matrimonial Lawyers study found that 62 percent of divorce attorneys reported an increase in people seeking prenups. According to the attorneys who saw an increase in prenups, 52 percent said that millennials were the ones requesting prenups more often. When compared to past generations, millennials often marry later in life. This means one or both parties could have assets to protect. These assets are not always physical property like real estate. More young people are investing in businesses and the stock market. The New York Post reported that almost 7 out of 10 millennials have financial investments.

Initial marriage satisfaction may indicate long-term satisfaction

A study that was published in Social Psychology and Personality Science examined the link between initial and long-term marital satisfaction with special focus on economically disadvantaged couples. People in Arizona who are considering divorce might gain from knowledge of the study, which indicates that initial satisfaction is in many cases indicative of long-term satisfaction. Researchers from two universities used surveys to measure levels of marital satisfaction for 431 couples who lived in low-income areas.

The couples, who all lived in Los Angeles County, were asked five times from 2009 to 2014 to answer eight questions that were designed to measure marital satisfaction. Among the questions were things like how much trust do you have for your partner and what is your level of satisfaction about how much time you spend with your partner. The researchers divided respondents into three groups based on their levels of initial satisfaction: high satisfaction, moderate satisfaction and low satisfaction.

Calculating child support for service members

During the divorce process, courts tend to seek the best interest of any children involved. To this end, they may require parents to pay child support.

In cases where the payer is in the military, there are unique aspects involved. Particularly in regards to calculating the payment, there are a few key considerations.

Children also need help adjusting to a divorce

Parents in Arizona and throughout the country may have a hard time dealing with the fact that their marriage has come to an end. However, they must make sure that they stay strong for their children. It is important to never argue with the other parent in front of the kids or say bad things about them to a child.

The most important reason to be civil around a child's other parent is that it protects the child from negative feelings. Children tend to think that they had something to do with the fact that their parents are no longer together. Instead of devoting energy to bringing a parent down, that energy may best be used to focus on the relationship between the parent and child.

New spousal support law expands eligibility

Learning to adjust after a divorce is not easy. For many individuals, the fiscal deficit can be debilitating.

For this reason, courts tend to award spousal support payments to specific parties. With the new spousal support law in place, this particular group stands to expand.

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