Is A Prenuptial Or Postnuptial Agreement Right For You?
In recent decades, Americans have begun to enter first marriages later in life than previous generations did. This means that many couples have had time to pursue an education, start careers and build personal assets before getting married. For this reason and many others, prenuptial and postnuptial agreements are growing in popularity.fami
If you believe that one of these agreements may be beneficial to your own marriage, the experienced attorneys at Berlin Family Law Group can guide you through the entire process. We will help you craft an agreement that is fair, enforceable and protective of both spouses.
Dispelling Myths And A Bad Reputation
Prenuptial agreements have long suffered from a bad reputation. They are seen as “romance killers” or as a way for a wealthy person to solidify a wealth imbalance in their marriage. At the very least, people often assume that signing a prenuptial agreement is proof that you expect to get divorced.
None of these are true in all (or even most) cases. Instead, prenuptial and postnuptial agreements are a way to set the terms of your divorce ahead of time should divorce ever become necessary. They are like buying insurance – a good idea even if you don’t expect to need it.
The Benefits Of Prenuptial And Postnuptial Agreements
These agreements can make both marriage and divorce less stressful by setting expectations and guidelines for finances and property in advance. Benefits include:
- Protecting each spouse from the other spouse’s debt acquired prior to marriage (especially things like student loans)
- Protecting assets acquired by either party before the marriage (such as a family business)
- Clarifying each partner’s expectations of the other
- Simplifying the process of property division and making it more predictable
It is worth noting that every couple already has an agreement in place. That agreement is Michigan’s divorce laws. Why not take some time to craft a truly customized agreement that meets the needs of you and your partner?
Differences Between The Two Types Of Agreements
The biggest difference between prenuptial and postnuptial agreements is when they are signed and enacted (before or after marriage). A postnuptial agreement can be created at any time during the marriage. It can even replace a prenuptial agreement if both spouses agree to the change.
When creating and signing a prenuptial agreement, each partner needs to be represented by his or her own attorney. For postnuptial agreements, however, a married couple can usually use the same attorney.
Want To Learn More? Contact Us To Discuss Your Options.
Berlin Family Law Group is based in Troy, and we proudly serve clients throughout the surrounding areas of Michigan. To get started with an initial consultation, call our office at 248-800-1923, or send us an email.