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The Michigan prenuptial agreement is a legal document that outlines the rules for how the parties to this agreement will regulate their financial relationship in the future. The parties to this agreement are two people who are about to get married.
People don’t only use the prenuptial agreement after marriage. This document can be used to regulate financial relationships between two parties before, during, and after marriage.
The goal of creating the prenuptial agreement is to provide detailed provisions on what the parties have obtained before the marriage, how they will manage the property during the marriage, and how they will divide the accumulated property if their marriage comes to an end.
Laws and Legal Requirements for a Prenuptial Agreement in Michigan
Michigan hasn’t ratified the Uniform Premarital Agreement Act. Therefore, all matters related to the prenuptial agreement are regulated by a few sections of the state law.
Laws and Legal Requirements
Section 557.28 regulates contracts relating to property made in contemplation of marriage.
Section 566.109 refers to the statute of fraud, consideration, statement in contract, and evidence.
Section 566.132 covers the agreements, contracts, or promises required to be in writing and signed, enforcement, and the definition of “financial institution."
Signing Requirements for a Prenuptial Agreement in Michigan
As provided by Section 566.132, Sec. 2(1)(c), the prenuptial agreement must be made in writing. Moreover, both parties to the agreement must sign the document. Otherwise, the prenup agreement will be considered void.
The state law also requires the notarization of the prenuptial agreement form. The notary public will confirm the identity of the parties to the prenup agreement and acknowledge that they have personally signed the agreement.
The main reason for this action is that the notary’s acknowledgment increases the authenticity of the document, which further prevents any potential disputes and fraudulent activities.
Prenuptial Agreement Enforcement in Michigan
The court can make a decision to declare certain provisions or even the whole prenuptial agreement unenforceable if one of the parties proves that:
Prenuptial Agreement Enforcement Conditions
They didn’t sign the agreement voluntarily
The other party didn’t provide a complete or truthful overview of their financial status, and the party making such a claim didn’t in any way waive their right to complete financial status disclosure
What Can a Prenuptial Agreement in Michigan Cover?
The prenuptial agreement in Michigan can cover various aspects of the financial relationship between the future spouses. The parties have total freedom to include any provision in their prenuptial agreement template, as long as it is in line with state law and doesn't violate public policy.
One of the most common provisions the prenup agreement includes is regulating matters such as:
Provisions in a Prenuptial Agreement
Overview of each partner's financial status and determination of which assets and liabilities are going to be excluded from the marital property
The rights and obligations of each partner in terms of marital property. This can include a right to buy, sell, liaise, exchange, mortgage, or manage the marital property
Rules on how the parties will divide marital property in case of separation, marriage dissolution, death, or other similar events
Matters related to spousal support and alimony
Prenuptial Agreement in Michigan: Validity Criteria
The prenuptial agreement should fulfill the formal requirements set by state law. This means that the agreement must be made in writing and that both parties to the prenup agreement must sign it in front of the notary public.
Moreover, the validity of the prenuptial agreement is in correlation with the existence of marriage. In practice, this means that the prenup agreement will be considered invalid if the parties don’t get married after signing it.