No couple ties the knot envisioning the dissolution of the marriage. However, according to statistics, nearly half of all marriages in Michigan and across the United States will end in divorce. If an event had a 50-50 chance of happening, wouldn’t it make sense to prepare for it just in case? This is exactly what prenuptial agreements do. While there were certain stigmas surrounding prenups traditionally, in reality they are useful tools in family law proceedings.
A prenup is basically a contract between spouses that defines how the financial aspects of the marriage will be handled. Prenups are commonly used to protect personal and business assets that were accumulated before the marriage. They can also be used to preserve things such as inheritance and ensure that heirlooms remain in the family as intended. Contrary to popular belief, a prenuptial agreement does not indicate that a couple is expecting to divorce.
However, there are some potential cons to prenuptial agreements. It goes without saying that a prenup is not the most romantic thing in the world, and they sometimes cause friction in a relationship. Another downside to prenuptial agreements is that they can give off the impression of a lack of commitment and create resentment between spouses.
If a prenuptial agreement is desired, discuss this plan early in the relationship and don’t wait until just before the wedding. Couples should always be honest with each other and never try to hide feelings or assets. Those in Michigan who have questions about prenuptial agreements or any aspect of family law should consider discussions with a legal representative. A seasoned attorney can provide clarity and much-needed legal guidance.
