What Should I Include in a Prenuptial Agreement in Michigan?

What Should I Include in a Prenuptial Agreement in Michigan?

Talking about prenuptial agreements can feel uncomfortable, but in many cases, it’s one of the most practical steps you can take to protect your future. A prenuptial agreement is a legal document that provides clarity and security for any couple entering a marriage. It allows you and your partner to decide on financial matters now, reducing potential conflict and legal costs if you ever part ways.

At Iafrate & Salassa, P.C., our experienced family law attorneys have helped numerous clients in the Metro Detroit area navigate these sensitive conversations. We understand that this process can feel overwhelming. Our goal is to provide clear, cost-effective solutions to protect your interests.

So, what should you include in a Michigan prenuptial agreement? A well-crafted agreement can address:

• How to divide property and assets.
• Protection for a family business or inheritance, if needed.
• Spousal support (alimony) arrangements.
• Management of debts and finances during the marriage.

What Makes a Prenup Legally Binding in Michigan?

For a Michigan court to enforce a prenuptial agreement, it must meet specific legal standards. The agreement is a contract, and it’s only valid if certain conditions are met.

• It must be in writing. Oral agreements are not enforceable.
• It must be signed voluntarily. Neither party can be threatened or pressured into signing.
• There must be full financial disclosure. Both individuals must be honest about their assets, debts, and income before signing, as hiding information can invalidate the agreement.
• The terms must be fair. The agreement cannot be grossly one-sided or unconscionable at the time it’s signed or enforced.

As properly made agreements will become legally binding, it is crucial that both parties have the opportunity to consult their own legal counsel before signing.

How Can a Prenup Protect My Assets?

A primary function of a prenuptial agreement is to define separate and marital property. This distinction can be vital in a divorce.

• Separate Property: You can list specific assets, such as real estate, businesses, retirement accounts, or expected inheritances, to retain them as your separate property. This ensures they will not become subject to division in a divorce, and it can be especially important for business owners or those with children from a previous relationship.
• Marital Property: The agreement can also define what will be considered marital property—assets acquired during the marriage—and how it should be divided.
• Debts: A prenup can also clarify responsibility for debts that each person brings into the marriage, as well as those accumulated during it.

Can Michigan Prenups Cover Spousal Support?

Yes, a prenuptial agreement in Michigan can set terms for spousal support, also known as alimony. You can decide in advance whether one spouse will pay alimony, as well as the terms for payment.

However, a court may review the alimony terms during a divorce. If a judge finds the terms to be unfair or if they would leave one spouse dependent on public assistance, they may decide not to enforce that part of the agreement.

It’s also important to note that prenuptial agreements in Michigan cannot determine child custody or child support. These matters are decided by the court based on the child’s best interests at the time of separation.

Protect Your Future with Confidence

A prenuptial agreement can serve as a proactive step toward a secure financial future. It opens a dialogue about finances and ensures you and your partner are on the same page. By addressing these topics before marriage, you have the opportunity to further build a foundation of honesty and trust.

The attorneys at Iafrate & Salassa, P.C. have over 50 years of combined experience in Michigan family law. We can help you draft a fair, legally enforceable prenuptial agreement that protects your interests. Contact us today to schedule a consultation.