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Considerations before signing a prenuptial agreement

On Behalf of | Sep 26, 2017 | Pre- And Post-nuptial Agreements

When a Michigan couple decides to get married, they may want to consider getting a prenuptial agreement to protect their assets. Although considering a prenuptial agreement may not be romantic, it can help couples to get on the same page when it comes to finances and keeping separate property separate in the event they decide to get a divorce later on. However, there are certain things couples should consider before signing a prenup.

Couples should be prepared to have separate attorneys to ensure that their rights are protected if the marriage does not work out. Further, both individuals will need to fully disclose all of their assets, debts and other liabilities. If they fail to do so, the prenuptial agreement could potentially be considered invalid. Two copies of all financial documents should be provided for both attorneys.

Some couples specify in the prenuptial agreement that alimony or spousal support will be paid to an ex-spouse if the marriage lasts for a specific amount of time or if the couples has kids. The prenuptial agreement should also list separate property that should remain separate after the marriage and separate property that will become marital property. This includes inheritances.

Although many dislike the idea of prenuptial agreements as they determine what will happen if they get a divorce in the future, they actually protect both individuals. Oakland County prenuptial agreement lawyers can help walk those who are considering getting a prenuptial agreement through all of their options and inform them of how the prenup will impact a potential future divorce.