Prenuptial Agreements for Second Marriages

When entering a second marriage, a prenuptial agreement can provide peace of mind by clearly defining how assets and debts will be handled in the event of divorce or death.

For those with children from previous marriages, creating a prenuptial agreement ensures that separate property and estate planning decisions are honored, protecting individual assets and safeguarding your children’s inheritance. 

Having an open and honest conversation about these matters before getting married allows both parties to enter the union with clear expectations.

Contact us at De Novo Law to learn how a prenuptial agreement can protect your interests and those of your loved ones.

Table of Contents

• Understanding Prenuptial Agreements in Arizona
• What Assets Does a Prenup Protect?
• Why Consider Prenuptial Agreements for Second Marriages?
• Questions to Ask Your Future Spouse
• What Makes a Prenup Null and Void?
• Contact a Family Law Legal Paraprofessional From De Novo Law

Understanding Prenuptial Agreements in Arizona

A prenuptial agreement, or “prenup,” is a legal contract between two individuals planning to marry, which outlines how assets and debts will be handled if the marriage ends in divorce or death.

In Arizona, prenuptial agreements are governed by the Arizona Uniform Premarital Agreement Act (A.R.S. § 25-201 et seq.). This agreement can cover various financial matters, including property division, spousal maintenance, and the distribution of assets upon death.

It’s important to note that prenups cannot address child custody or child support

These issues are determined based on the child’s best interests at the time of divorce or separation.

What Assets Does a Prenup Protect?

In a second marriage, protecting specific assets is often a primary concern, especially when one or both spouses have children from previous relationships. A prenuptial agreement can help ensure that certain assets remain with their intended beneficiaries.

Assets that can be protected by a prenup include:

• Real Estate: Whether it’s a family home, investment properties, or vacation homes, a prenup can specify ownership rights and how these properties will be divided.
• Business Interests: If one spouse owns a business, a prenup can outline how the business will be valued and divided, ensuring the business remains protected.
• Retirement Accounts and Investments: A prenup can address the division of retirement accounts, pensions, and other investment portfolios.
• Personal Property: Items of sentimental or significant value, such as family heirlooms, jewelry, or art collections, can be specifically allocated in a prenup.

Why Consider Prenuptial Agreements for Second Marriages?

In a second marriage, a prenuptial agreement can be particularly valuable in several specific circumstances:

1. Blended Families: When one or both spouses have children from a previous marriage, a prenup can ensure that certain assets or inheritance are preserved for those children, avoiding unintended disinheritance. 
2. Disparity in Wealth: If one spouse enters the marriage with significantly more assets or income than the other, a prenup can protect those premarital assets and outline how future earnings and investments will be handled.
3. Existing Debts: When either spouse has significant debt from a prior relationship or business, a prenup can clarify who is responsible for paying off that debt, protecting the other spouse from liability.
4. Business Ownership: If one spouse owns a business, a prenup can prevent the business from being subject to division in the event of a divorce, ensuring it remains intact and under the original owner’s control.
5. Retirement and Pension Plans: A prenup can specify how retirement accounts and pensions will be divided, especially when one spouse has been contributing to these accounts for many years before the second marriage.
6. Future Inheritance: If one spouse expects to receive a significant inheritance, a prenup can protect that inheritance from being divided in a divorce, ensuring it remains within the spouse’s family.
7. Protection of Alimony from a Prior Marriage: A prenup can address the financial obligations from a previous marriage, such as ongoing alimony payments, ensuring that the new spouse’s income is not used to satisfy these obligations.
8. Healthcare and Long-Term Care Costs: In the event one spouse needs long-term care, a prenup can protect the other spouse’s assets from being used to cover these expenses, preserving them for children or other intended beneficiaries.

Questions to Ask Your Future Spouse

Imagine you’re planning a second marriage, and both you and your future spouse have children from previous relationships. You’ve both accumulated assets over the years—maybe you own a home, have a retirement fund, or even run a small business. In this scenario, a prenuptial agreement could be crucial to ensuring that your assets are protected and your children are provided for.

To help determine if a prenup is right for you, consider discussing the following questions with your future spouse:

• What assets do we want to protect? Are there specific properties, investments, or heirlooms that should be safeguarded for your children from a previous marriage?

• How should we handle existing debts? If one or both of you have debts from previous marriages or business ventures, how will those be managed within your new marriage?

• What are our financial goals for the future? How do you both envision your financial life together, and how can a prenup support those goals while protecting individual interests?

• How do we plan to provide for our children from previous relationships? What provisions need to be made to ensure that your children are not unintentionally disinherited or financially disadvantaged?

• How will we manage potential business interests? If one or both of you own a business, how should the prenup address the ownership and division of that business in the event of a divorce?

Discussing these questions openly can help you both make informed decisions about whether a prenuptial agreement is necessary, ensuring that both your interests and those of your loved ones are protected.

What Makes a Prenup Null and Void?

 A prenuptial agreement can be deemed null and void under several circumstances in Arizona.

If either party did not voluntarily sign the agreement or was coerced into doing so, the contract may be invalidated.

Similarly, a lack of full and fair disclosure of assets and debts by both parties can render the prenup unenforceable.

Agreements that are excessively one-sided or unconscionable at the time of execution may also be struck down by the courts.

Additionally, failing to put the prenup in writing or not adhering to proper legal formalities outlined in the Arizona Revised Statutes can result in the agreement being declared void.