What Should Be Included in a Michigan Prenup to Protect High-Value Assets?

Marriage is a significant and hopeful step for any couple. Planning a shared future, however, involves more than just dreaming about new homes and future children; it also means making prudent financial decisions. For couples with high-value assets, a prenuptial agreement provides a clear, proactive way to protect each partner’s individual property and establish financial certainty. At Robbins & Licavoli, PLLC, our attorneys provide individualized attention to help you draft an agreement that safeguards your interests.

A prenuptial agreement in Michigan can specify how to handle a wide range of assets. Key items you may want to include are:

• Real estate properties
• Investment and retirement accounts
• Business ownership interests
• Inheritances and family trusts
• Valuable personal property

A prenup can also handle the allocation of debts, which can further impact your financial future in the event of divorce or death.

What High-Value Assets Should You Include in a Prenup?

A prenuptial agreement allows couples to decide on financial matters apart from the standard framework of property division in Michigan’s divorce laws. When high-value assets are involved, this contract often becomes an essential tool for predetermined clarity and protection.

Depending on what you and your partner possess, a comprehensive prenup can address the following:

• Real Estate: This could include the marital home, vacation properties, and any rental or investment real estate owned by either party before the marriage. The agreement can define what happens to these properties and any appreciation in their value.
• Investments and Retirement Accounts: Specify how assets such as stocks, bonds, 401(k)s, IRAs, and pensions will be treated. This is crucial for protecting retirement savings accumulated before the marriage.
• Business Interests: If one or both spouses own a business, a prenup can prevent it from being subject to division in divorce. This protects the business from disruption and ensures its continuity.
• Inheritances and Gifts: You can designate that any future inheritances or significant gifts received by one spouse will remain their separate property.
• Specific Personal Property: A prenup can protect particular items you hold dear, like your jewelry collection or your partner’s classic cars.

After considering these and other valuable assets, you may also want to determine whether your prenup will cover the allocation of spousal support or debts. This can also help protect your financial future.

How Do Prenups Protect Both Parties’ Assets?

A prenuptial agreement serves as a protective measure for both individuals by ensuring that the assets each person brings into the marriage are clearly defined as separate property. This prevents disputes over what is considered marital property, which is subject to division in a divorce.

For the agreement to be valid, Michigan law requires full and fair disclosure of all assets and liabilities from both parties. This transparency helps foster open communication between partners and confirms that the contract is fair and entered into voluntarily, without coercion. An experienced attorney’s review further allows both parties to feel secure, knowing their rights and assets are thoroughly protected.

Prepare for the Future With Confidence

A prenuptial agreement can be a practical legal tool for any couple seeking to establish financial security and protect their assets. Drafting a document that is fair, clear, and legally sound is imperative for a prenup to function as intended, requiring the guidance of a knowledgeable family law attorney. The team at Robbins & Licavoli, PLLC is committed to providing the experienced representation needed to create a customized agreement that reflects your goals.

Contact us today to discuss how we can help you and your future spouse build a secure foundation for your future with a prenuptial agreement.