Prenuptial/Postnuptial Agreements

Planning for the future is a wise decision in any aspect of life, and marriage is no exception. In Michigan, prenuptial and postnuptial agreements are a powerful tool for couples to proactively define their financial rights and responsibilities. These legal contracts can offer clarity, protect individual assets, and minimize potential conflict in the event of a spouse’s death or a divorce.

Whether you are contemplating marriage or are already married, understanding how these agreements work is the first step toward making an informed decision about your financial future. At Robbins & Licavoli, PLLC, we assist clients in the process of drafting, reviewing, and enforcing these important legal documents.

What are Prenuptial and Postnuptial Agreements?

A prenuptial agreement (or “prenup”) is a contract created by a couple before marriage to address how assets and debts will be handled if the marriage ends in divorce or death. A postnuptial agreement (or “postnup”) serves the same purpose but is created after the couple is already legally married. These agreements allow couples to create their own determinations for property division, moving outside the standard framework of Michigan’s divorce laws.

What Can Be Addressed in These Agreements?

Couples in Michigan have significant flexibility in determining the terms of a prenuptial or postnuptial agreement. A well-drafted agreement can address a wide range of financial matters, including:

• Division of Assets: Specify how property, including real estate, investments, and business interests, will be divided.
• Separate Property: Protect assets owned by each spouse before the marriage, as well as inheritances or gifts expected to be received during the marriage.
• Spousal Support (Alimony): Determine whether spousal support will be paid, and if so, define the amount and duration. Parties can also agree to waive spousal support entirely.
• Debt Allocation: Determine responsibility for debts that were brought into the marriage or accumulated during it.
• Management of Finances: Outline how finances will be managed during the marriage.

It is important to note that these agreements cannot determine matters related to child custody or child support, as the court will always rule based on the best interests of the child at the time of separation.

Requirements for a Valid Agreement in Michigan

For a prenuptial or postnuptial agreement to be considered valid and enforceable by a Michigan court, it must meet several key requirements. The agreement must be:

1. Fair and Voluntary: Both parties must enter into it willingly and without coercion.
2. Full Disclosure: Each party must provide a complete and accurate disclosure of all assets, debts, and income.
3. In Writing and Signed: The agreement must be a written document and signed by both parties.

We also recommend that each person involved have their own lawyer look over the agreement. This allows everyone to be clear on their rights and what signing the contract will mean for them.

Prepare for the Future With Our Legal Guidance

Prenuptial and postnuptial agreements are not just for those with significant wealth. They can serve as practical legal tools for any couple seeking to establish financial certainty and protect their interests in marriage. Drafting an agreement that is clear, fair, and legally sound, however, requires the skill and precision of an experienced family law lawyer.

Let the team at Robbins & Licavoli, PLLC help you create a customized agreement that reflects your unique circumstances and goals. Contact us today to start discussing how we can help you build a more secure financial foundation for your future.