Prenuptial and Postnuptial
Agreements
Traverse City, Michigan
Family Lawyer Jeanne Hannah
Jeanne Hannah is experienced in drafting complete and
complex prenuptial, postnuptial, and cohabitation
agreements. These agreements are recognized in Michigan
and public policy allows the enforcement of them. An
agreement must be in writing and signed by both parties.
An agreement may address issues related to both death of
one of the parties or divorce. The divorce provisions
may address property division, debts and spousal
support. Custody and child support issues may not be
determined in a prenuptial agreement. The parties may
also provide in the agreement how they will handle their
finances during the marriage or cohabitation
relationship.
Agreements between spouses or cohabiting adults are not
simply for the "rich and famous." There are many reasons
why people would enter into such agreements. Frequently,
both parties entering into their second marriages will
want a prenuptial agreement, particularly if one or both
parties have children from a prior marriage. These
people may want to protect their children's financial
interests in the event of their death. Furthermore, one
or both the parties may be bringing separate property
into the marriage that they also want to protect.
Prenuptial
and cohabitation agreements are also a good idea when
there is a large disparity in the ages and/or financial
status of the parties. The person with few assets will
want to ensure that after the marriage or end of a
cohabitation relationship, he or she is not left with
nothing. Likewise, the person with substantial assets
may want to protect those assets to the extent possible.
Each
party to the prenuptial agreement must be represented by
counsel. The agreement will be enforceable in Michigan
if
the parties entered into the
agreement freely, without fraud, duress or mistake, or misrepresentation or
nondisclosure of material fact;
the agreement was not
unconscionable when executed;
there aren’t facts and
circumstances that have changed since the agreement was executed that would make
its enforcement unfair and unreasonable.
It is important that these agreements establish
that the parties had full knowledge and understanding of
the nature, value and extent of the other party’s
property. It’s also important that each party understand
that the fairness issue isn’t an easy avenue to future
invalidation of these agreements. This is perhaps one of
the most complicated issues involved, and thus it’s wise
to consult with an attorney when entering into such an
agreement. In fact, to avoid a potential for
invalidation, it’s important to establish that both
parties to a premarital agreement have had a meaningful
opportunity to consult counsel.
It’s
not a good idea to leave the issue of premarital
agreements or cohabitation agreements to the last
minute. Nothing will impact more harshly upon the
beginning of a relationship than actions making it seem
as though money is more important than live. The terms
of a prenuptial agreement should be negotiated so that
it is fair to both parties and will likely withstand
subsequent scrutiny in the courts. This requires skilled
and highly experienced counsel.
You will find detailed information here on the
negotiation and enforceability of prenups and postnups.
You may have additional
questions concerning a premarital or cohabitation
agreement. To schedule an initial
meeting with family lawyer Jeanne Hannah or just
ask a question, call or send an e-mail today.
Contact Traverse City,
Michigan family lawyer, Jeanne Hannah at
231-223-7864
E-mail child family lawyer Jeanne Hannah. Disclaimer
Family lawyer Jeanne Hannah
serves clients throughout Michigan, including Traverse
City, Kalkaska, Petoskey, Charlevoix, Beulah, Cadillac,
Bellaire, Grand Traverse County, Kalkaska County, Emmet
County, Benzie County, Antrim County, and Charlevoix
County. © 2005 Jeanne M. Hannah
