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FAQs
Pre/Post Nuptial Agreements
What is a prenuptial agreement?
Do I need an attorney to draft or review my prenuptial
agreement with me?
Can payment of spousal support be waived under the terms of
my prenuptial agreement?
I do not have a lot of money or property going into this
marriage. Do I really need a prenuptial agreement?
What happens to my property if I do not have a prenuptial
agreement?
Why would I want a post nuptial agreement?
Are postnups enforceable in court?
What is a prenuptial agreement?
A prenuptial agreement (prenup) is a written contract created by two people
before they are married. A prenup typically lists all of the property each
person owns, as well as any debts, and specifies what each person's property
rights will be after the marriage if there is a divorce.
Do I need an attorney to draft or review my prenuptial
agreement with me?
Both you and your fiancé should each hire an attorney to individually represent
you in the drafting and review of your prenuptial agreement. An experienced
family law attorney at Paul J. Tafelski, P.C. can help you define your
short-term and long-term goals in reaching an agreement with your fiancé.
Can payment of spousal support be waived under the terms
of my prenuptial agreement?
Yes, spousal support may be waived under the terms of a prenuptial agreement.
I do not have a lot of money or property going into this
marriage. Do I really need a prenuptial agreement?
Prenuptial agreements are not just for the rich. While they are often used to
protect the assets of the wealthy, couples of more modest means are increasingly
turning to them for their own purposes. For example, a marrying couple with
children from prior marriages may use a prenup to spell out what will happen to
their property when they die, so that they can pass on separate property to
their children. Without a prenuptial agreement, a surviving spouse might have
the right to claim a large portion of the other spouse's property, leaving much
less for the kids.
What happens to my property if I do not have a prenuptial
agreement?
If you do not make a prenuptial agreement, state laws will determine who owns
the property that you acquire during your marriage, as well as what happens to
that property at divorce or death. In the absence of a prenup stating otherwise,
a spouse usually has the right to:
- Share ownership of property acquired during marriage, with the expectation that the property will be divided between the spouses in the event of a divorce or at death.
- Incur debts during marriage that the other spouse may have to pay for, and share in the management and control of any marital or community property, sometimes including the right to sell it or give it away
Why would I want a post nuptial agreement?
These agreements are popular when parties are having difficulties in their
marriage but want to attempt reconciliation without being concerned about the
financial aspects of divorce. Some people feel that if they don't have to worry
about money they can focus on the relationship. Other people use post nuptial
agreements where there are children from prior marriages and estate planning is
at issue. Another reason is to try and avoid the prospect of a messy divorce by
spelling out the intentions of the parties.
Are postnups enforceable in court?
Yes. They are considered binding contracts when properly drafted. Michigan law
specifically recognizes their validity. One of the most important elements in
entering into a binding agreement is that full disclosure of assets occur.
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