A Michigan prenuptial agreement is a legal contract drafted for the purpose of determining how a couple’s assets and property will be divided in the event their marriage ends. This agreement must be in written form and signed by both parties before the couple legally becomes married. The agreement will only be activated upon their marriage and in accordance with state contract law.
Legal Considerations
Laws:
- § 557.28 – Contract relating to property made in contemplation of marriage.
- § 566.109 – Statute of frauds; consideration, statement in contract, evidence.
- § 566.132 – Agreements, contracts, or promises must be in writing and signed; enforcement; “financial institution” defined.
Signing Requirements: Both parties. (§ 557.28)
Dividing Property: Equitable division. (§ 552.401)
Enforceability Requirements
- Essential Terms for Validity: Requires voluntary participation without coercion or undue influence.
- Disclosure: Full and fair disclosure of assets, liabilities, and income is essential.
- Unconscionability: Must be fair and not one-sided. If a court finds it unconscionable, it won’t be enforced.
- Child Custody and Support: Cannot affect child custody or support, which the court decides based on the child’s best interests.
