How much does an Arizona postnuptial agreement cost? This is a common question that couples in Arizona often ask after they have entered a marriage. Let’s explore this question and review some general information about postnuptial agreements and why they are important.
How Much Does a Postnuptial Agreement Cost in Arizona?
An Arizona postnuptial agreement, sometimes called a post-marital agreement, is a legally binding contract that a married couple signs after they have been married. This document is like a prenuptial agreement, because it outlines how the couple's assets and liabilities will be divided in the event of a divorce, separation, or death of one spouse.
The cost of a postnuptial agreement will vary depending on several factors like the length of the document and the amount of custom terms. According to ContractsCounsel's marketplace data, the average cost of a prenuptial agreement in Arizona is $761.81.
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Why Do I Need a Postnuptial Agreement in Arizona?
A postnuptial agreement is a great tool for couples to use to protect their assets and plan their financial future. Many people believe that these contracts are only meant for extremely wealthy people, however, this marital document can benefit couples at all income levels.
Arizona is one of nine states in the United States that follows “community property” laws. This means that once a couple marries, any assets or debts obtained are equal responsibility of both spouses. For example, if one spouse purchases a car and takes out an auto-loan in their name, both spouses are responsible for the debt even if only one person uses the car.
Many people view community property laws as unfair, but without a valid prenuptial agreement, these are the laws that will govern a couple’s divorce. To avoid being subject to these laws, a couple can discuss what type of property distribution plan would be right for them and detail this plan in a legally binding prenuptial agreement.
Is a Postnuptial Agreement Enforceable in Arizona?
Yes. In Arizona, postnuptial agreements will typically be enforced as long as the contract meets specific requirements. Some of these requirements include:
- The agreement must be in writing
- It must be signed by both parties voluntarily (not under duress or false pretenses)
- Both parties must make a full disclosure of assets and liabilities or waive disclosure
- The agreement cannot be “unconscionable” (unfair)
- The contract cannot violate public policy or state or federal statutes
An Arizona lawyer who has experience with postnuptial agreements can help ensure that your marital agreement meets these requirements and is legally enforceable.
What's Typically Included in an Arizona Postnuptial Agreement
Postnuptial agreements will vary based on the couple’s financial situation and personal wishes. These contracts are easy to customize so couples can include unique clauses about things that are important to them like a family business or clauses about children from prior relationships.
Typically, the following issues will be covered in an Arizona postnuptial agreement:
- Property division. How the couple's assets will be divided in the event of a divorce, separation, or death of one spouse. This can include property acquired before or during the marriage, as well as future assets.
- Separate property. How separate property (includes property that was owned by one spouse before the marriage or property that is acquired during the marriage through inheritance or gift) will be treated in the event of a divorce, separation, or death.
- Debt allocation. How debts will be divided in the event of a divorce, separation or death.
- Spousal support. Which spouse is entitled to alimony, how much, and for how long.
- Retirement accounts. The division of retirement accounts.
Arizona also allows marital agreements to cover matters involving personal rights and obligations as long as the terms do not violate public policy or state or federal criminal statutes.
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Benefits of a Postnuptial Agreement
Postnuptial agreements provide couples with many benefits. The most noteworthy advantages to having a fair, well-written marital agreement include:
- Protection of assets
- Protection from debts
- Customized plan to distribute assets in a divorce
- Avoidance of a typical divorce settlement
- Comprehensive planning for the future
- Peace of mind knowing that financial matters are settled
Divorces are often emotional and can bring out the worst in people. A postnuptial agreement allows couples to settle high stress issues before the breakdown of the relationship.
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Postnuptial Agreement Drafting in Arizona
Postnuptial agreements are important documents that can have lasting financial effects on a married couple’s lives. It is important that these legally binding contracts are drafted properly by an experienced attorney who is familiar with Arizona laws.
Before drafting a post marital agreement, a lawyer will have a consultation with the spouses. The lawyer will need a list of the couple’s assets and debts to be included in the contract. Once the lawyer has collected all pertinent information, he can draft a customized postnuptial agreement.
Postnuptial Agreement Review in Arizona
Templates for postnuptial agreements are available online so it is possible for a couple to draft their own contract. If spouses choose this route, it is highly recommended that they have a licensed attorney review their agreement before signing. An attorney will look over the contract to ensure that it is fair and abides by all Arizona laws. This will ensure that the contract will be legally enforceable in court.
Arizona Postnuptial Agreement Drafting Cost
When a couple hires a lawyer to draft their postnuptial agreement, they will incur legal fees because drafting a contract requires the time and legal expertise of a licensed lawyer.
According to ContractsCounsel's marketplace data, the average Arizona postnuptial agreement drafting costs are $1,075.00.
Arizona Postnuptial Agreement Cost
Hiring an attorney to review a postnuptial agreement will also come with legal fees. The lawyer will use their legal expertise and knowledge of Arizona law to review the contract and ensure it is legally binding.
ContractsCounsel's marketplace data shows the average postnuptial agreement review costs in Arizona are $414.14.
How Do Arizona Lawyers Charge for a Postnuptial Agreement?
Hourly Rates for Postnuptial Agreements
It is common for Arizona family law attorneys to use an hourly rate fee structure to bill their clients. Under this fee structure, a lawyer will inform the client of their hourly rate then bill the client for the amount of hours spent working on a case or project.
The marketplace data for ContractsCounsel shows the average hourly rate for a family lawyer in Arizona ranges from $200 - $300 per hour.
Flat Fee Rates for Postnuptial Agreements
When a lawyer is hired to complete a drafting project like a postnuptial agreement, they may choose to quote a flat fee rate instead of billing by the hour. The attorney will estimate how long the drafting project will take then quote the client a fair flat fee for all legal services.
ContractsCounsel's marketplace data shows the average flat fee rate for a postnuptial agreement in Arizona is $761.81.
Get Help with an Arizona Postnuptial Agreement
Do you need help with a postnuptial agreement project? If so, post a project in ContractsCounsel's marketplace to receive flat fee bids from family lawyers who are licensed to practice law in Arizona and can handle your project. All lawyers on the ContractsCounsel's platform are vetted by our team to make sure you are provided with top-tier service.
