Prenuptial Agreement Attorney in Oakland County
Drafting Marital Contracts in Farmington Hills & Across Southeast Michigan
There are a lot of misconceptions out there regarding prenuptial agreements, but the truth is, they are much more valuable and common than you may think. Simply put, this legal document is a way to establish the assets and financial rights of each party in the case of a divorce before the marriage certificate is even granted.
While some people think that a “prenup” shows a lack of trust, it is a very practical and wise thing to consider in a variety of cases, such as previously-owned businesses, family trusts, and estate plans. At The Law Office of Michael E. Thomas, PLLC, we take the time to go over your financial plans for the future. Let our prenuptial agreement lawyer in Oakland County show you the great benefits of this kind of arrangement and counsel you on the best options for your upcoming marriage.
Contact us now at (248) 266-9779 to discover your options for arranging a prenuptial agreement with your partner.
What a Prenuptial Agreement Covers
No one’s relationship is the same, which means that each prenuptial basis must be drawn up on a case-by-case basis to serve the unique needs of the individuals. However, there are certain basic details that strong prenuptial agreements cover. For example, you and your attorney can go over which debts and assets must be divided, safeguarding any property that has been brought into a marriage either from your side of the family (such as an inheritance) or from a previous marriage.
You may discuss how retirement funds might be organized, or what would happen regarding spousal support. If there are children from another marriage, you could also discuss matters of their inheritance, or how assets would be managed should one spouse tragically pass away. It is crucial to note, however, that child custody and support are not discussed in a prenuptial agreement, since these documents are based on the child’s current best interests, rather than parents’ previous agreements in a prenup arrangement.
Benefits of a Getting a Prenup
Sometimes people are unsure about getting a prenuptial agreement because it seems like they are preparing for a separation before they are even married. However, it is a better idea to think of a prenup as a way of preparing for your future, safeguarding your finances, particularly if one spouse gets incapacitated in some way. We never want to be negative about the future, but it is better to be prepared for an unlikely accident than have it catch you off guard.
Some examples of what a prenuptial agreement protects include:
- Both you and your partner’s individual personal property
- Any shared marital property, such as business accounts you run jointly
- Your future estate plan
- Debts incurred from the past
- Family heirlooms
- Your children’s inheritance
Securing Your Future
No one can know what the future holds, which is why it’s a wise choice to talk to a qualified family attorney in Michigan about your financial options before you tie the knot. It may not sound very romantic, but having a solid prenuptial agreement can save you lots of headaches and potentially, your financial future, down the road. It’s never too early to start thinking about arranging an appointment with our prenuptial agreement attorney in Oakland County, even before you’ve found a partner, especially if you have family wealth, a sizeable investment portfolio, or own your own business.