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.
One of the most important issues that can arise during property division in a divorce is ascertaining whether a certain asset belonged to one partner before the marriage. It can be difficult to do this, but a prenup should provide clear guidelines as to which assets are to be considered separate for the purposes of future asset division.
A prenuptial agreement can have additional importance for entrepreneurs and startup founders, among others. People who want to plan for the future may consult with a family law attorney about a prenup and how it helps prepare not only for divorce but for a marriage built on a clear financial framework.