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.
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
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.