An Overview on Prenups
Wednesday, 18 February 2009 03:53

Prenuptial agreements are becoming more and more common, even among the non rich and famous. For example, an average couple may opt for a Michigan prenuptial agreement because:

 
  • One party comes to the marriage with substantial assets, such as an inheritance
  • A party has children from an earlier marriage
  • You have family, like elderly parents, that must be taken care of
  • To keep your finances and debts separate
  • To avoid legal issues in the event of a divorce
  • One partner has already been through a messy divorce

What can or cannot be included in a prenuptial agreement?

 
  • Ownership of property
  • How property is to be divided
  • Inheritance issues
  • Alimony

However, as your Michigan Prenuptial Lawyer will tell you, a prenup cannot limit or deal with child custody and support issues.

 

Your Michigan Family Law Attorney will draft a prenuptial agreement with you, which will likely include:

 
  • A detailed list of all assets, income, potential inheritances and trusts
  • A list of all debts and liabilities owed
  • Accountability for all debts and payment plan
  • Division of property
  • Property rights of children from previous marriage
  • Outcome of inheritances or trusts
  • Death benefits and life/medical insurance coverage
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