A Compassionate Advocate
For Arizona Families

How may I protect my rights to assets during a divorce?

On Behalf of | Dec 28, 2020 | Divorce

An Arizona divorce court judge may determine that your soon-to-be ex-spouse has an ownership right to half of your assets and income. To protect your property, you may consider a postnuptial agreement, as noted by Kiplinger’s Personal Finance magazine.

Similar to a prenuptial agreement, a postnup outlines each spouse’s separate property and whether a spouse may claim ownership. Because both parties provide their consent and sign the document, the court generally upholds its terms.

What are some benefits of a postnuptial agreement?

A postnup may provide you with time to negotiate the division of your assets without the interference of a divorce court judge. The Grand Canyon State operates under community property laws, and each spouse otherwise has an ownership right to half of the assets acquired during a marriage.

For example, if you recently bought or started a business, your spouse may assert his or her right to half of it because the law considers it part of your marital assets. A signed postnuptial agreement, however, may allow you to maintain full ownership of your business without dividing it or sharing its future income with your ex-spouse.

What other options does a postnuptial agreement offer?

With a postnuptial agreement, you and your spouse may decide on what reflects an equitable division of your marital property. Instead of dividing each asset by a 50-50 split, you and your spouse may decide to trade assets for another property.

You may also choose to sell your marital property and then share the proceeds. A postnup may detail which assets and properties go up for sale, how the proceeds divide and the manner in which the sales take place.