Prenup Lawyer in Rochester Hills MI
You’re getting married, and you’re excited about spending the rest of your life with your future spouse. Do you really need a prenup? In recent years, more and more people have come to realize that prenups are no longer just a tool for the rich — it provides valuable guidance in case the unexpected happens, and can ward off any future uncertainty. A Rochester Hills MI prenup lawyer can help you determine what types of legal documents are necessary, as well as draft a prenuptial agreement that ensures you avoid issues in the future. Call Sumner & Associates, P.C. today to learn more.
What Is a Prenup?
A prenuptial agreement, also called an “antenuptial agreement” in Michigan, is a legal contract between two people that is made before or during a marriage (a contract made after the marriage is called a postnuptial agreement). Prenups address property rights and obligations in the event that the marriage ends in a divorce.
Guidelines for Prenuptial Agreements
Although prenups and postnups are legal documents, they must follow specific guidelines in order to be approved by a court. A Rochester Hills prenup lawyer can help ensure that you meet these requirements, which may include the following:
- It should be equitable and fair to both spouses
- It must be voluntarily entered into by both spouses
- All property and assets must be disclosed by both spouses
- It must be signed by both spouses
What Types of Issues Should a Prenuptial Agreement Address?
Even if you don’t have a lot of property and assets currently, a prenup can also determine how future assets are split. For example, if you and your spouse acquire a large house or a business in the future, your prenup can determine how it is split if you do divorce.
A prenup commonly protects separate property, such as inheritances and things that each spouse brings into the marriage. A spouse who has children from a previous marriage may want to protect their inheritance through a prenup.
Common issues covered in a prenup may include the following:
- Division of business interests, property, and financial accounts
- Division or separation of retirement accounts
- Asset management during the marriage
- Payment of alimony after a marriage
- Division of life insurance proceeds
- Child inheritance from prior relationships
Additionally, a prenup can determine what will happen if one spouse dies during the marriage, including the establishment of a will that will facilitate the terms of the prenuptial agreement.
Prenuptial Agreements and Child Custody or Child Support
In Michigan, a prenuptial agreement cannot determine child support or child custody. These aspects are determined based on the needs of children and the best interests of the child at the time. There is no way to know what will be in the best interest of a child until the moment that these issues are decided, so a prenuptial agreement cannot be used to establish them. These issues can, however, be decided in agreements that are made at the time of separation and with court approval.
Speak to a Rochester Hills MI Prenup Lawyer Today
If you have questions about a Michigan prenuptial agreement, contact Sumner & Associates, P.C. today. We can evaluate your situation and help you draft essential documents for your case.