Prenuptial Agreements in Michigan
More commonly referred to a “prenups” or “prenuptial agreements,” this contract is intended to determine how assets will be divided, and issues of spousal support, in the event of a divorce.
Most often, prenups are sought by parties who are entering second marriage, with the goal of preserving assets for children born of their first marriages, and protecting the children from claims by the new spouse.
Most importantly, in order to be enforceable, both parties must make full and accurate disclosure of their respective assets and the value of those assets, both parties must have the opportunity to have the prenup reviewed by independent counsel for each, and there must be no coercion involved to obtain a signature to the prenup.
Post-Nuptial Agreements in Michigan
There are also post-nuptial agreements, in which the parties draft a contract determining the division of assets, etc. after they are already married. These are more difficult to enforce — an experienced attorney who is well-informed of the most current law on this evolving type of contract should be consulted.