A.R.S. 25-203
Scope of agreement
A. Parties to a premarital agreement may contract with respect to:
1. The rights and obligations of each of the parties in any of the property of either or both of them whenever and wherever acquired or located.
2. The right to buy, sell, use, transfer, exchange, abandon, lease, consume, expend, assign or create a security interest in, mortgage, encumber, dispose of or otherwise manage and control property.
3. The disposition of property on separation, marital dissolution, death or the occurrence or nonoccurrence of any other event.
4. The modification or elimination of spousal support.
5. The making of a will, trust or other arrangement to carry out the provisions of the agreement.
6. The ownership rights in and disposition of the death benefit from a life insurance policy.
7. The choice of law governing the construction of the agreement.
8. Any other matter, including their personal rights and obligations, not in violation of public policy or a statute imposing a criminal penalty.
B. The right of a child to support may not be adversely affected by a premarital agreement.
Explanation: A premarital agreement can be done to affect numerous rights and property, so long as it doesn't require criminal acts, it doesn't affect child support, or it doesn't violate "public policy". A court will decide what public policy means.
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A.R.S. 25-204
Amendment or revocation of agreement
After marriage, a premarital agreement may be amended or revoked only by a written agreement signed by the parties. The amended agreement or the revocation is enforceable without consideration.
Explanation: Premarital agreements are contracts that are done before you are legally married. Once married, to make any changes to this binding document, both husband and wife must sign a written agreement. You do not need to bargain for this agreement.
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A.R.S. 25-205
Limitation of actions
A statute of limitations applicable to an action asserting a claim for relief under a premarital agreement is tolled during the marriage of the parties to the agreement. However, equitable defenses limiting the time for enforcement, including laches and estoppel, are available to either party.
Explanation: Any requirements of a deadline for challenging a premarital agreement must be met, but there are certain defenses available to both people. The deadline begins running when you are married.
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A.R.S. 25-211
Property acquired during marriage as community property; exceptions; effect of service of a petition
A. All property acquired by either husband or wife during the marriage is the community property of the husband and wife except for property that is:
1. Acquired by gift, devise or descent.
2. Acquired after service of a petition for dissolution of marriage, legal separation or annulment if the petition results in a decree of dissolution of marriage, legal separation or annulment.
B. Notwithstanding subsection A, paragraph 2, service of a petition for dissolution of marriage, legal separation or annulment does not:
1. Alter the status of preexisting community property.
2. Change the status of community property used to acquire new property or the status of that new property as community property.
3. Alter the duties and rights of either spouse with respect to the management of community property except as prescribed pursuant to section 25-315, subsection A, paragraph 1, subdivision (a).
Explanation: This is basically the "Community Property" statute in Arizona. Essentially any money you make or homes you buy for example, while you are married, is considered community property. However if one spouse can prove the property was a gift or was received by will/probate, it is likely separate. Also any property you acquire after a divorce petition has been filed will be separate, IF the petition results in divorce.
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