Prenuptial Agreements In Michigan
When talking about a divorce the topic of a prenup might arise and it may have an impact on your divorce and how assets are divided. In this blog, we will be going over what a prenuptial agreement is in Michigan. If you have any questions about your case or need more information on prenups then give Goldman and Associates a call or watch our Youtube videos. Goldman and Associates has over 400 free videos on everything relating to all legal matters.
Prenuptial Agreements In Michigan
Generally, prenuptial agreements (also known as antenuptial and premarital agreements) are marital contracts that are entered into spouses prior to their marriage. The purpose of a prenuptial agreement is to provide for a distribution of assets upon divorce or death in a way that is different from what the law would ordinarily require.
Michigan laws are silent as to the specific content permitted in prenuptial agreements; however, courts generally allow parties to a prenuptial agreement to contract with respect to the parties’ rights and obligations in any of the property of either or both of them; the right to buy, sell, lease, assign, dispose of, or otherwise manage and control property; disposition of property upon separation, dissolution, death or any other event, modification or elimination of spousal support; making of a will or trust to carry out the provisions of the agreement; ownership rights in and disposition of the death benefit from a life insurance policy; choice of law governing the construction of the agreement; and any other matter not in violation of public policy or criminal statute.
A prenuptial agreement is valid as long as it complies with the Uniform Premarital Agreement Act. This act says nothing about what content can or cannot be in the agreement. What it does say is that spouses may have a contract regarding any of the following:
- The property rights of either or both spouses
- The right to buy, sell or lease property
- Determining what happens to property in the event of divorce or death. Can also apply to legal separation, annulment, or any other triggering event the couple desires.
- Changing or eliminating spousal support.
- Making wills and trusts.
- Ownership of death benefits or life insurance benefits.
- Which states laws will govern the interpretation and enforcement of the premarital agreement
- Any other issue that does not run afoul of state public policy (you cannot decide child custody in a premarital agreement)
In order for such a contract to be enforceable, most courts require that it meet the following criteria:
- The agreement was voluntarily entered into
- The agreement must be in writing and signed
- Both parties must have honestly disclosed their net worth
- Any financial provisions must be reasonable and fair
It is also important to be aware that the courts will also refuse to enforce a premarital agreement that is considered “unconscionable”. A good way to think about it is as an agreement so unfairly lopsided that no sane person would agree to it willingly.
Can we use a premarital agreement to decide child custody in case of divorce?
Absolutely not. Child custody can never be determined by any prior agreement between the parents. The court will never allow parents to completely bypass the standard of “best interests of the child” that undergirds child custody determinations.
What is the Uniform Premarital Agreement Act? Has Michigan adopted it?
The UPAA is a model legislation for premarital agreements that have been adopted by many states, including Michigan. Rules of permitted content, the requirements for enforceability, and many other rules regarding premarital agreements are taken directly from the UPAA. The one exception is the UPAA provision which renders premarital agreements unenforceable if the removal of spousal support from that agreement would render that spouse ineligible for public assistance. That provision was removed in Michigan’s version (i.e. a valid agreement can affect access to public assistance).
If you and your new spouse already agree about what should happen in the event of a divorce, it would be a good idea to write up a document to this effect as soon as possible. You can also do this just before the divorce. Such an agreement is sometimes called a post-marital agreement and will save both of you a lot of time and stress by avoiding a drawn-out and contentious divorce process. Be aware that such agreements can never be used to determine child custody or child support.
Conclusion
If you are in a situation where you need help with your divorce or prenuptial agreement, Goldman and Associates have you covered and can help get you the results you need. There is a lot of information when it comes to prenups so make sure that you are prepared and ready for anything. If you need more information on Divorce in The State of Michigan contact Goldman and Associates Law Firm. At Goldman and Associates, our attorneys are experts in family law and they will thoroughly examine all aspects of your divorce. With the best lawyers in Michigan, Goldman and Associates takes each and every case very seriously and gives you the outcome you desire.
For more information on divorce in the State of Michigan watch the video below and check out the Goldman and Associates YouTube channel for more videos on everything relating to law in Michigan. Make sure to give our attorneys a call if you have any questions.
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