I read that Tom and Gisele had a prenuptial agreement usually called a “prenup.” So when they filed their divorce papers and were divorced in a day, it is no wonder everything was probably already decided before they began. Let me explain. First, I do not know Tom or Gisele nor do I know if they had a prenup nor do I practice law in Florida. But this seems like a good time to talk about prenups.
What is an Arizona prenup? A prenup is a written agreement between spouses about how to divide assets in the event of a divorce. Sometimes people have negative ideas about a prenup but I think they can be a very good idea. I think of them like an insurance policy. You buy car insurance and never intend to get into a car wreck but if you do, insurance comes in quite handy. It spells out your duties and the duties of your insurance company such as who pays what for what and when.
In Arizona, there is a default “agreement” for how to divide property under the statutes of community property law and case law. The law tells you how to divide the house, who pays the debts, who owns what and what to do with retirement accounts. They also outline spousal maintenance, who gets it, under what circumstances and how much. So, if you don’t want to divide the finances under community property laws you can draft your own agreements.
My advice is to have two separate attorneys, one for each of you, to draft what you all think should be done if you have a car wreck (divorce). Your attorney will give you advice and you will learn about community property and what your rights will be if you don’t have a prenup. It saves arguments and it can save litigation and attorney fees. No one plans on a divorce but if one is going to happen, it might be a good idea to know who gets what and make those decisions before the divorce…when everyone is calm and loving. It should be a fair agreement and everything needs to be above board: what are each other’s debts and assets. Is one spouse going to raise the kids at home without an income and how is that person compensated if there is a divorce. Obviously they have not been earning money but they have contributed to the community (marriage). Prenups should not favor one party over the other. But if someone comes into the marriage with a business, you might want to talk about what happens to that business if there is a divorce. How is income used in the marriage and who and how do the bills get paid?
So if you are thinking about getting married, you might want to get more information about whether a prenup is a good idea for you and your partner. The more information you have before something unfortunate happens, the easier it will be to handle. And if you choose not to have a prenup, you will at least know why and how that will affect any future split. It reminds me of just “be prepared” and that never seems like a bad idea. And again, the way Tom and Gisele handled their entire divorce is to be applauded. No bad mouthing, no long expensive drawn out litigation, no public nastiness and most importantly: putting their kids first.