Chandler Marital Agreements Lawyer

Chandler Marital Agreements Attorney

Marital agreements are helpful legal tools that couples may elect to use to define their financial rights and obligations before, during, or after a marriage. Whether you want to establish legal standards before entering a marriage or are looking to address some changing circumstances in the middle of your relationship, these contracts can help offer the protection you are looking for. A Chandler marital agreements lawyer can get you started.

At CDM Law Firm, we understand how important creating marital agreements can be for couples looking to safeguard their relationship. Our experienced attorneys work closely with clients to help draft clear and enforceable agreements that help them achieve their desired outcomes. These agreements do not only boost transparency between couples but can also make them feel more comfortable moving forward with their marriage or separation.

What Are the Most Common Reasons for Securing a Marital Agreement?

Marital agreements are much more than just a formality. They are practical legal tools and protective measures that can help couples establish more clarity and security within vulnerable relationships. By addressing critical financial and personal matters through these agreements, both individuals can feel more confident that their interests will be protected if circumstances were to ever change.

Some of the most common reasons why these agreements are used include:

Protecting Premarital Assets

One of the biggest reasons why couples create a marital agreement is to protect assets they each acquired before the marriage. For individuals who are entering a marriage with significant wealth or property, these agreements can ensure that those assets are always recognized as a separate entity from their spouse’s. This would prevent the other spouse from trying to claim these assets or take a share of them if the couple eventually decides to divorce.

Addressing Financial Responsibilities

Marital agreements can define how financial responsibilities are managed during a marriage. This mostly includes how household expenses, debts, and joint accounts would be handled if the couple were to ever split. For example, one spouse might feel comfortable agreeing in advance to keep the house and take over the mortgage payments if a divorce becomes necessary in the future. This can minimize significant conflict down the road, saving you future attorney fees and unnecessary emotional burden.

Protecting Business Interests

Having a marital agreement can provide a lot of relief for entrepreneurs and business owners who know that their company is protected no matter what happens to the relationship. If a couple decided to divorce, and they did not have a marital agreement in place outlining the future of their business interests, the owner could be forced to sell their business to cover the financial obligations of their divorce. Taking care of this ahead of time can ensure all their hard work and professional responsibilities are protected.

Providing for Children from Previous Relationships

Marital agreements are often used to safeguard the financial interests of children from previous relationships. When this is true for one or both parties entering a new marriage, they can create a new marital agreement to outline how assets should be distributed to ensure their children are always provided for, regardless of any changes that happen to the new marital relationship. Having this in place can help prevent stressful family disputes over children in the future.

Planning for Debt Allocation

Despite popular belief, marital agreements are not just about protecting and preserving wealth. They also can address how a couple will manage their debt by outlining who is responsible for what. This can help to ensure that one spouse isn’t going to be unfairly burdened with the other spouse’s financial obligations if the marriage ends. This can also help prevent creditors from targeting marital property to satisfy one of the spouse’s personal debts.

FAQs

Are Prenuptial Agreements Legally Enforceable?

Yes, after a prenuptial agreement has been signed by both parties, it is legally enforceable. Other criteria must also be satisfied, like determining that neither party was a victim of coercion before signing and that both parties provided their full financial disclosures. The courts have the right to void the agreement if any evidence suggests the agreement was finalized under false pretenses.

What Are the Pros and Cons of a Prenup?

There are many benefits of a prenuptial agreement, such as protecting separate assets, simplifying the property division process, and preventing a lengthy divorce court battle if the couple later decides to end the marriage. It also can establish clear financial responsibilities. However, some believe a con of these agreements is that it suggests there is a perception that the couple does not trust one another to advance in the relationship without the legal document.

What Are the Different Types of Prenups?

There are several different types of marital agreements designed to address the specific needs of a relationship. Traditional prenups protect assets and finances before a couple gets married. A postnuptial agreement can add provisions for specific expectations during the marriage, like how finances are to be managed or if the couple agrees on how certain marital assets should be split, like a home or vehicle they purchased together.

Can a Prenuptial Agreement Be Changed After Marriage?

Yes, prenuptial agreements can be modified after a marriage begins as long as both parties consent to the changes. The couple must draft a new agreement together and outline what the updated terms mean. These modifications must be voluntarily agreed to by both parties and include new financial disclosures. Common reasons why prenups are modified are due to the birth of a child, a career shift, or the acquisition of a new asset.

Contact CDM Law Firm in Arizona Today

If you plan on getting married soon or are looking to create or update a preexisting marital agreement with your spouse, contact CDM Law Firm today. We have a rich history of experience supporting clients through all their marital agreement needs. Our relevant experience can help us expedite the legal process to secure the type of marital agreement you need to move forward with peace of mind.