Marriage is perhaps the single most important commitment couples make in their lifetimes and impacts more than the two individuals making that commitment. Disparity of income or assets, family business interests, prior marriages, – these and other variables may all warrant a written agreement about the financial aspects of a marriage before the couple enter into it. Michigan law regulates the validity of such “prenuptial agreements” – written agreements that are made by a couple prior to their marriage, specifying what will happen if their marriage eventually ends by death or divorce. These agreements can supersede some of the default marital laws that would otherwise apply in the event of divorce, particularly those governing the division of assets and retirement benefits and savings and rights related to spousal support.
A number of technical, formal requirements must be met to create an enforceable and effective prenuptial agreement.
If you would like to learn more, please contact one of our experienced estate planning attorneys.