How to Include Digital Assets in a Prenuptial Agreement
A prenuptial agreement is designed to protect all premarital assets. In today’s highly technological world, it is no surprise couples want to know how to include digital assets in a prenuptial agreement. All prenuptial agreements must adhere to the Arizona Revised Statute Section 25-201 through 25-205, also known as the Arizona Uniform Premarital Agreement Act. Not only must both parties mutually agree to the prenuptial agreement, but all property or assets listed must adhere to the statute requirements.
How the Statute Defines “Property”
A personal “property” in the statute refers to an interest, present or future, equitable, legal, vested, real, or personal property. Therefore, digital assets, while not exclusively mentioned, qualify.
How to Include Digital Assets Appropriately When Drafting a Pre-Marital Agreement
First, assess all digital assets you own. You must list their location (such as the web address), log in credentials, and the value (if known) of the assets. Discuss these digital assets with your fiancé before adding them to the pre-marital agreement. By both agreeing to use these assets in the prenuptial agreement you might have fewer conflicts. Digital assets can include a multitude of items, including social media accounts, online banking accounts, websites owned, blogs, online subscriptions, and so forth.
What to Consider Before Drafting a Pre-Marital Agreement
If you or your spouse is considering a prenuptial agreement, be sure to consider the following:
- Discuss Options and Limitations: You and your fiancé should discuss which options you want in the agreement and any restrictions you want to add – such as limitations on spousal support.
- Be Open: Never hide assets from the prenuptial agreement. You must be honest with your partner.
- Involve an Attorney: Drafting a pre-marital agreement needs a legal expert. To ensure both of you have your best interests protected, consider hiring your own attorney and your fiancé hiring another.
Explore Your Options for a Pre-Marital Agreement
Pre-marital agreements are only valid when drafted and executed properly. Therefore, it is in your best interest to contact a family law attorney from Udall Shumway, PLC. Our attorneys can help create your legally binding agreement and include digital assets as well as other non-digital assets you want to be protected.
Contact an attorney from Udall Shumway, PLC by calling our offices at 480.461.5300 or send a message online.
This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice regarding Digital Assets in a Prenuptial Agreement, or other family law issues, please feel free to contact Barry C. Dickerson at 480.461.5300, log on to udallshumway.com, or contact an attorney in your area. Udall Shumway PLC is located in Mesa, Arizona and is a full service law firm. We assist Individuals, families, businesses, schools, and municipalities in Mesa and the Phoenix/East Valley.