There are many schools of thought when it comes to planning a wedding and thinking about married life and the future. Michigan business owners might be concerned about how to retain separate ownership of their assets as they head for the altar. Obstacles can arise if a partner thinks the idea of signing a prenuptial agreement is unromantic.
A prenup is the simplest option for identifying certain property or assets as separately owned before marriage. It doesn’t mean someone thinks his or her marriage is going to end in divorce. It merely means that he or she understands the value of financial openness in marriage. It’s also understandable that someone who has worked hard to build a business would want to protect such assets.
Signing a prenuptial agreement is confidential. Couples can write the terms of an agreement and sign the contract in private. It’s a good idea to seek clarification of applicable state laws because every state has its own guidelines regarding such matters. It’s better to speak with someone well-versed in such issues ahead of time rather than to act on one’s own and later learn that the document prepared is not legally enforceable.
Whether or not to include alimony in the terms of a prenuptial agreement is also an important topic. Some couples waive the right to alimony while others choose to include it or to set a cap on how much it can be. Again, thinking ahead about such issues doesn’t mean a person expects the marriage to fail, only that there is a desire to want to prevent confusion and negative surprises if a problem does arise down the line.