You’re getting married – congratulations! You’re about to enter a legally binding union with someone you love and respect, a joyous occasion without a doubt. While you have every reason to be excited over the coming union, there are some things that you should know before walking to the altar – namely, what a prenuptial agreement can do for you and your spouse.
Many people dislike the idea of a prenuptial agreement, insisting that forcing legal documents outlining guidelines for an end to a marriage that hasn’t yet happened is dooming the union to failure. However, a prenuptial agreement (a/k/a an ante nuptial agreement) is set in place not to predict failure, but to protect both parties from potential damages that may ensue should the
absolute worst (and unexpected) occur.
A prenuptial agreement will typically address issues such as property ownership, division of assets, debts, and income, and serves as a roadmap in the event of a divorce. Both parties are required to agree upon and sign this legally-binding document prior to the marriage, ensuring that each party understands the document in full. Both parties should also each seek advice
from an attorney.
There are several advantages to signing a prenuptial agreement, including the following:
1. Established division of assets. In the event of a divorce, you and your spouse will enter the legal process already having established which assets are attributed to which party. This will significantly reduce or eliminate time and effort involved with the dispute (over assets) resolution process.
2. Limited Debt Responsibility. Prenuptial agreements can be used to keep either party from being unfairly held responsible for their wife’s debt, especially debt existing before the marriage.
3. Ease of Negotiations. Overall, having a pre-existing document that details the major aspect of “who gets what” in a divorce should keep tension, emotions, and finances spent to a minimum.
While it may be a tough conversation to have with your soon-to-be wife, it may be worth discussing the benefits of constructing and signing a prenuptial agreement. If you have any questions regarding prenuptial agreements and your personal situation, please feel free to call any of the capable and experienced attorneys at ADAM.
About ADAM (American Divorce Association for Men)
The American Divorce Association for Men (ADAM) is a group of highly qualified attorneys who advocate for men’s rights in divorce, child custody and parenting time, paternity, support, property settlement, post judgment modifications, and other family law matters. Since 1988, ADAM has been aggressive, diligent, and uncompromising when representing their clients. A
team of compassionate and skilled family law attorneys, ADAM is dedicated to being Michigan’s leading divorce attorneys for men and practices a policy of integrity in all dealings.