At the next holiday get-together, you may have to tell Grammy it’ll be a few more years until your wedding. In 1970, the average age of newlyweds was 22.5 years for men and 20.6 years for women. Today, the average age for newlyweds is 29.5 years for men and 27.4 years for women. Since older couples are usually more financially established, some are creating a prenuptial agreement before their wedding day. You may be wondering if you meet the qualifications for a prenup.
Prenuptial Popularity on the Rise
The reality is that marital agreements, such as a prenuptial agreement or cohabitation agreement, exist to serve the same purpose as insurance. No one wants to use insurance, but you want to have it in case something goes wrong in the future. –Michelle Ogborne
Qualifications for a prenup are minimal, but young couples often didn’t consider them until recently. Often, their professional careers are firmly in place, and they may be bringing significant assets to the marriage. What determines the need for a prenup? What are the qualifications for a prenup?
Qualifications for a Prenup
A prenup is an agreement between two people before marriage. It outlines and specifies certain details of their relationship, including financial responsibilities and ownership. An Arizona prenup cannot include an arrangement for child or pet custody. It also cannot include details of financial support. It must be legally enforceable in an Arizona court.
An Arizona prenup is invalid if one party can prove coercion (that they signed it under pressure). Legal qualifications for an Arizona prenup include:
- It is effective upon marriage.
- No morally or ethically objectionable requirements of a spouse included (example: criminal activity).
- It must be in writing and witnessed by a notary or an attorney.
- Fair and reasonable disclosure of all property or financial obligations.
- There must be adequate knowledge of both parties about property or financial obligations of the other.
What to Include in a Prenup
Qualifications for a prenup are primarily your transparency and willingness to communicate openly. Your attorney will help with financial inclusions that protect you during the marriage. There can be other stipulations that are included among the qualifications for a prenup in Arizona. These are often called “lifestyle clauses.” These clauses can include anything from who’s responsible for walking the dog to reasonable “punishment” for cheating. Other standard lifestyle clauses are:
- Gag order/goodwill clause – If you’re coming into the marriage with a company or brand to protect, this can prevent your spouse from bashing your business.
- Social media clause – Your partner cannot share potentially embarrassing photos or make disparaging remarks about you on social media.
It should be noted that too many lifestyle clauses may cause a judge to invalidate the prenup because of its frivolous nature. You also have to be careful only to include clauses that are legally valid in Arizona. An experienced attorney will be able to walk you through what will hold up and what will not.
Love and Trust Are Qualifications for a Prenup
Drawing up a prenuptial agreement together is a sign of incredible trust and financial openness – you’re fooling yourself if you think you can achieve complete intimacy without it. -Suze Orman
At Ogborne Law, we can help you understand the qualifications for a prenup in Arizona. You may also want an estate planning package that ensures the welfare of your loved ones and children. To schedule a no-obligation consultation, complete our Marital Agreement Consultation form or contact us today.
Engaging with an attorney to protect your family is never an easy step. Whether you need to protect your family from the unthinkable or restructure your family through collaborative divorce, we’re here to help. When you’re ready to schedule a consultation with Michelle Ogborne, please visit the scheduling page to get started.