Having just discussed how assets and debts are divided in Michigan, and the fact that prenuptial agreements are sometimes not enforceable (much to the horror of numerous divorcing couples!) we’ve had several people reach out and ask for advice on how to make sure your prenup will be enforceable in a Michigan court. So here’s our list of tips for how to create a strong and legally enforceable prenup that’s more likely to stand the test of time:
Do your prenup well in advance!
If you’ve already bought the dress, ordered the cake, and sent out the invites, it’s probably too late to claim that there was no duress involved in getting your prenup signed. After all, if the wedding has already been formally announced to all of the guests, calling it off would be expensive and humiliating, so many people just go along with it because they dread the alternative.
Years later, during divorce proceedings, they think back to how they felt cornered into signing, and claim they were pressured! So make sure you address the issue of a prenup very soon after your engagement, and before any actual wedding planning begins!
Be completely honest about assets and debts!
Financial transparency is critical if you want your prenup to hold water in court. Claiming you’re worth more than you are might impress your spouse-to-be, but it won’t help you when it comes time to split the wealth. Similarly, not disclosing certain assets, or forgetting to include certain valuable items can come back to bite you later on!
So when sitting down with your attorneys, make sure you disclose ALL of your assets, and ALL of your debts. You both have a right to know what they are taking on when it comes to money owed. And you also both have a right to know what the other person owns, whether it’s in the form of property, cash, investments, and even retirement funds. After all, honesty is the best policy if you want a relationship based on trust. So don’t start it out with a lie!
Make sure you get a really good family law attorney!
One of the most important things you need to do when preparing a prenup, is to get a lawyer with lots of experience who can help you. Trying to write your own prenup, when you aren’t a legal expert and don’t know what the most recent Appellate Court decisions were, or how case law can affect your prenup, can mean your prenup won’t be worth the paper it was written on!
Here at The Kronzek Firm, our skilled and experienced family law attorneys have been helping people prepare fair and legally sound prenups for decades. We also help people defend their prenups during divorce, and divide assets in situations when the couple didn’t sign a prenup. So if you’re getting married and want to be properly prepared for all eventualities, or are considering divorce and need help with asset division, call us at 866 766 5245. We’re here to help! And don’t forget to join us next time for the rest of the tips!