How to ensure an enforceable prenuptial agreement
While most couples who marry don’t plan on getting divorced, those who come into a marriage with a significant amount of property often rely on a prenuptial agreement to ensure that certain procedures are in place if they do split. When drafting a prenuptial agreement in Michigan, you must follow certain laws to ensure that your document is enforceable.
What is a fair prenuptial agreement?
The primary factor for enforceable prenuptials is that the agreement is fair. The other two factors are that both parties entered into the agreement voluntarily and that the process was done in good faith. Fair means that both parties accurately disclose their assets, income and debts. Both parties should have separate legal counsel when drawing up the agreement. If these conditions are met, the only time that a court may not enforce it is when the couple’s financial circumstances have changed dramatically. Among the points that Michigan law states should be included in prenuptial agreements are:
- Handling of pre-marriage debts
- Handling of gifts and inheritances during the marriage
- Classification of each spouse’s income
- Ability and responsibility of handling property and assets
Creating your prenuptial agreement
Prenuptials become effective once the marriage tasks place. The agreement must be in writing and signed by each party.
An experienced family law professional may help draft a fair prenuptial agreement with your soon-to-be spouse. Your lawyer may work to ensure that you have the necessary disclosures in place for the agreement. By doing so, you may have a better chance that the court will enforce the document should you need to use it.