The future can be unpredictable. Michigan couples who want to get married or who are already married should consider making plans for possible situations that may occur in the future. For couples who are currently unmarried, this entails completing a prenuptial agreement. Couples who are already married should discuss a postnuptial agreement.
Two of the main reasons couples get divorced are communication and money. Completing a prenuptial agreement not only affords both parties protection, but it also aids in promoting healthy conversations about financial matters early on so that they may not be a factor that contributes to a divorce.
The contents of a prenuptial agreement will vary from couple to couple, but it usually contains provisions that address what should happen with regard to the division of assets and spousal support should a divorce occur. Individuals who plan to get married can use prenuptial agreements whether they are getting married for the first time or for the third time. Prenuptial agreements are also not exclusive to people with significant wealth; anyone who has assets that they want to protect can use the legal agreement.
Prenuptial agreements are to be used as guides as to how debt, property, future earnings and inheritances are to be handled in a divorce. Even though there are other methods that can be used to maintain the separation of assets, prenuptial agreements are specially created to be used for marriage.
A divorce attorney may advise clients who are planning to get married on how a prenuptial agreement can be used to specify the terms of property division should a divorce occur. The attorney may negotiate prenuptial agreement terms pertaining to the division of assets on behalf of clients. For divorcing clients, the attorney might litigate to ensure that the terms of prenuptial agreements are honored.