EXPERIENCED MICHIGAN PRENUPTIAL LAWYER
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PRENUPTIAL AGREEMENTS IN MICHIGAN AND
POSTNUPTIAL AGREEMENTS IN MICHIGAN
What is a prenuptial agreement in Michigan?
A prenuptial agreement in Michigan or "prenup," is a binding legal contract between two people who intend to marry.
What is a postnuptial agreement in Michigan?
A postnuptial agreement in Michigan is an binding legal contract between two people who are already married.
How common are prenuptial agreements in Michigan?Prenuptial agreements are most common in Michigan in second marriages or in marriages where one party enters the marriage with significantly more wealth or earning potential.
There are many of reasons why parties choose to enter into a prenuptial or postnuptial agreements in Michigan.Many people enter into a Michigan prenuptial agreement or post nuptial agreement for the following reasons:
- To simplify the dissolution of a marriage in the event of divorce
- To provide for the distribution of assets and debts upon a divorce or the death of party
- To possibly set forth potential spousal support (alimony) amounts in the event of a divorce
- To provide for the distribution of property to children of the marriage and children from a prior relationship upon a divorce or the death of a party
What is the purpose of a prenuptial agreement in Michigan or a postnuptial agreement in Michigan?
Generally, the purpose of a postnuptial agreement or a prenuptial agreement in Michigan is to:
- Protect certain assets of the parties in the event of a divorce or the death of a spouse
- Protect the incomes of the parties in the event of a divorce or the death of a spouse
- Provide for distributions of the assets and the debts of the parties in the event of a divorce or the death of a spouse
Although a Michigan prenuptial or post nuptial agreement may include provisions for future child custody and
child support in the event of a divorce, these
provisions are generally not binding.
Are prenuptial agreements valid and enforceable in Michigan?
Very few prenuptial agreements have actually been tried in the Michigan Court of Appeals. So, we have very little guideline as to how the Courts will interpret all of the provisions of prenuptial agreements.
However, if a prenuptial or postnuptial agreement in Michigan does not violate the following, it will generally be valid and enforceable in Michigan.
- The Michigan prenuptial or postnuptial agreement is not obtained through fraud, duress, mistake, misrepresentation or nondisclosure of material fact.
- The Michigan prenuptial or postnuptial agreement is not unconscionable when executed.
- The facts and circumstances have not materially changed since the agreement was executed to the point that enforcement of the agreement would be unfair and unreasonable.
Although there is no firm requirement that both parities be represented by an attorney before signing a prenuptial or postnuptial agreement in Michigan, the prenuptial agreement will most likely not be upheld by a Court in Michigan if one of the parties to the agreement was not represented by counsel.
When should someone consider having a prenuptial agreement or post nuptial agreement in Michigan?Not every couple in Michigan needs a prenuptial agreement.
However, there are certain circumstances in Michigan when one should consider entering into a prenuptial agreement or postnuptial agreement, especially if at the time of the agreement one party:
- owns a home,
- owns assets that could increase in value during the marriage
- owns a business
- has received an inheritance or expects to receive an inheritance during the marriage
- has significantly more wealth than the other
- has children from another relationship
- has a large amount of debit
- has a history of financial instability
- has a tax debt or has a history of not paying taxes
What is usually included in a prenuptial agreement or a postnuptial agrement in Michigan?State regarding the following are usually included in a prenuptial agreement or a post nuptial agreement in Michigan:
- A full accounting of both partes' assets.
- A full accounting of both partes' debts
- Intentions regarding inherited assets in the event of a divorce or the death of a spouse
- Intentions regarding premarital assets and debts in the event of a divorce or the death of a spouse
- Intentions regarding assets and debts incurred during the marriage in the event of a divorce or the death of a spouse
- Intentions regarding distribution of assets and debts in the event of the death of a spouse
- Intentions regarding how assets should be divided between the parties children in the event of a divorce or the death of a spouse
- Intentions regarding how income taxes will be paid during a marriage
- Other financial considerations to be made in the event of a divorce or the death of a spouse
Do I need an attorney to draft or review a prenuptial agreement in Michigan?
The drafting and the review of a prenuptial agreement in Michigan can be extremely complex. If you believe that you need a Michigan prenuptial agreement or postnuptial agreement, you should contact and experienced Michigan prenuptial lawyer.
Attorney Ellen Paynter is an experienced Michigan prenuptial and postnuptial attorney. Attorney Ellen Paynter has drafted and reviewed multiple Michigan prenuptial agreements and multiple Michigan postnuptial agreements.
What is the cost of an attorney to draft or review a prenuptial agreement or postnuptial agreement in Michigan?
The fees or costs to draft or review a prenuptial agreement depend of the complexity of the matter. You will need to speak with an attorney to discuss the specifics of your matter.
LET US HELP YOU!
The above is not intended to be legal advice, and is only a brief overview of the law in Michigan regarding prenuptial agreements and postnuptial agreements.
you have any questions regarding a Michigan prenuptial agreement or Michigan postnuptial agreement, contact us today.
Michigan prenuptial agreement lawyer will discuss with you Michigan prenuptial agreement
law, providing you with information to protect you and your children
for years to come.
There is no charge for your initial phone consultation.
ATTORNEY ELLEN PAYNTER
West Bloomfield Main Office
Troy Satellite Office
Monday through Friday
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