From a young age, many people in Michigan already have an idea of what they want their marriage to be like. However, these plans usually have more to do with flowers, music and locations than something much more important — financial security. Prenuptial agreements are an invaluable part of family law that allows individuals to protect their personal assets in the event that a marriage does not last.
Popular media, TV shows and movies tend to unfairly portray people who ask for prenuptial agreements as callous or uncaring. In reality, prenups offer significant protections for both parties and can often make the divorce process far easier. These agreements are especially helpful for:
- Individuals with children
- Business owners
- Couples with high-earning jobs
The protections afforded for these individuals is important. Retirees have typically worked hard their entire lives to earn their nest egg, and a prenup can protect retirement savings should a late-in-life marriage end in divorce. Business owners have their professional interests at stake should a marriage end, and a divorce could compromise an inheritance if the funds were commingled. These matters might seem trivial before a marriage, but many people realize just how important they are when facing a divorce.
Prenuptial agreements are not only for the very wealthy, and can be beneficial to anyone with personal assets that they would like to protect. Although prenups tend to be the best approach for imbuing such protections, they must be carefully worded to be upheld by a family law judge. Experienced counsel who are familiar with the intricacies of Michigan family law can help soon-to-be married couples ensure that their agreements are fully enforceable in the event of a divorce.