Thinking of marriage as “till death do us part” is a nice sentiment, but it is not always a reality. Divorce is a part of life that many people in Michigan will have to deal with, and it is usually best to be prepared. Prenuptial agreements are helpful in this manner as they can lay the groundwork for addressing complicated family law issues.
While it might not seem like an issue to marry a partner who has considerably fewer assets, potential problems can arise during divorce. As young adults tend to put off marriage, many have the time to accumulate valuable property, such as real estate, vehicles, retirement savings and more. Conversely, there is also time to build up large amounts of debt. A prenup can clearly define which assets and debts are whose and how they should be handled during a divorce.
Prenups are not just about tangible things, though, and planning ahead for a family is also a popular use. Including whether one parent will stay home or who will take time off work is useful for couples who are focused on their careers and want to be sure that their goals are respected even after having children. Human children are not the only option, either. Many people now view their pets as valued members of the family, but the law still treats them as property. Addressing pet ownership can help avoid losing a beloved animal in a divorce.
Michigan family law is complicated, and there is no one-size-fits all approach to divorce, asset division or any other number of issues. This is why prenuptial agreements can be so helpful. Prenups give couples the opportunity to craft personalized solutions to potential future problems.