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What to know about prenuptial agreements

On Behalf of | Mar 28, 2017 | Pre- And Post-nuptial Agreements

Michigan residents may believe that prenuptial agreements are bad omens for their marriages. However, this is not necessarily the case. Instead, they can be a practical solution to help a couple handle financial and other matters in a calm and rational manner. While the discussions may not seem romantic, they can be both honest and positive when handled correctly.

They can be beneficial to all couples regardless of their current financial standing. However, it can also be helpful for those who may have personal or business assets that they would like to protect in the event of a divorce. It may also help an individual protect family heirlooms or an inheritance that may be received after the marriage is made official. Coming to an agreement with a future spouse may help to protect children from a previous marriage.

A prenuptial agreement may be declared invalid if an individual fails to disclose all of his or her assets. It may also be declared invalid if one of the parties to the agreement signs it under duress. Ideally, the details of such an agreement will be worked out well before a couple’s wedding day. Each party should have separate legal counsel during the process.

People who are thinking about getting married may wish to consult with Oakland County prenuptial agreement lawyers. A prenuptial agreement may contain language that deals with spousal support or asset division. Assuming that the agreement is deemed to be valid, its terms will determine how much spousal support an individual may be entitled to or which assets each party is entitled to. This may prevent an individual from getting into an emotional legal battle that may be both expensive and time consuming.