A prenuptial agreement is a legal contract that couples sign before marriage. It outlines how they will handle property, debt, and financial matters if they divorce. In Michigan, the law recognizes prenuptial agreements as long as both spouses sign...
Many Michigan couples sign prenuptial agreements before they wed. Most such agreements serve their intended purpose very well: reducing the amount of stress and acrimony if the couple decides to terminate their marriage. Occasionally, however, one spouse discovers that the prenuptial agreement is unfair; perhaps a term regarding spousal support deprives one spouse of necessary income or one spouse hid…
It may not be the most romantic subject to discuss during your engagement, but a prenuptial agreement can be a helpful financial planning tool for your marriage and help reduce time, conflict, and cost if you ever divorce. These contracts may be helpful for most couples but especially in these circumstances. Substantial assets A spouse having significant assets or income…
Contrary to what many Michigan residents may think, a prenuptial agreement is not about staking a claim over one’s assets and it is also not about dooming a marriage even before it begins. As people grow older, they change and their circumstances change. As a result, couples grow apart and might not want to remain married to someone who no…
A prenuptial agreement can be a good idea for some Michigan couples. It can protect them in case they divorce and make the process of property division less difficult. However, it is important that both parties are involved in creating the prenup and that it does not leave either of them at a significant disadvantage. For one woman who was…
Michigan newlyweds may not have a lot of money or other assets when they first tie the knot. However, this doesn’t mean that they won’t acquire assets in the future that they would like to account for. For instance, someone who starts a new company may want to claim ownership of it and protect any revenue generated while they’re married.…
If you are a Michigan resident who is planning to get married soon, you may be wondering whether or not signing a prenuptial agreement is a good idea for you and your soon-to-be spouse. FindLaw explains that prenuptial agreements are a legal step that many engaged couples take prior to getting married. While traditionally thought advantageous only for wealthy people, prenups…
When you are organizing wedding plans and getting ready to share your life with another person, you may feel overwhelmed with the critical decisions that must be made. From decorations and venues, to documents and appointments, your life may be flooded with a host of issues that need to be resolved. One important thing to consider amidst the chaos is…
Engaged Michigan couples may think about drafting a prenuptial agreement before entering marriage so that they can protect their assets. Things can get a little complicated, though, if one of the parties has a child from a previous relationship. If the other parent is no longer involved in the child’s life, then the new stepparent may wish to consider legally…