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Premarital and Cohabitation Agreements

 

 

 

Premarital and Cohabitation Agreements in Arizona

Many people have a misconception about premarital agreements, believing they are only for the super-rich or that they indicate a lack of faith in the marriage.

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In fact, a premarital agreement can be appropriate important if you:

  • own a business or property prior to marriage;

  • are an inventor or artist who owns and develops intellectual property;

  • have children from a previous relationship;

  • are guardian for a person who depends upon you for support;

  • are entering a marriage where your incomes are very disparate; or

  • want to preserve wealth for future generations in the event of a divorce.

With divorce rates in Arizona at approximately 65%, a premarital agreement can be the difference between a catastrophic divorce and an amicable parting of ways in the event the marriage does not survive. Cohabitation agreements are very much like premarital agreements, except the contract contemplates that the parties (either heterosexual or same sex couples) are not going to wed, but are going to live together in a committed relationship for a long period of time.

Anyone contemplating marriage or living with another should seriously consider entering into an agreement to spell out your expectations in case of a breakup.