A postnuptial agreement is a contract made during marriage that addresses the division of assets, debts and other financial matters should the couple get divorced. While postnuptial agreements are legal in Michigan, they are subject to a high level of scrutiny by the courts and as such may be more difficult to enforce than prenuptial agreements.
One reason that postnuptial agreements are heavily scrutinized is that spouses owe at fiduciary duty to one another after marriage. They are required to act with the highest degree of fairness and good faith. Courts may be more skeptical of postnuptial agreements because they potentially result from an imbalance of power or undue influence. Unlike prenuptial agreements, postnuptial agreements are executed within a marriage, where the dynamics of trust and dependency can complicate negotiations.
A postnuptial agreement must meet several requirements. It must be in writing, signed by both spouses and be entered into voluntarily, without coercion or duress. Each spouse must make a full and fair disclosure of their assets, liabilities and income. The terms of the agreement must be fair and reasonable at the time of execution and not grossly one-sided.
One of the hallmarks of fairness courts will look for in a postnuptial agreement is consideration—the exchange of something of value. Although continuation of the marriage may be considered adequate consideration, the agreement may be strengthened by providing additional incentive for a spouse to sign, such as agreeing to specific financial concessions or changes in property ownership.
Given the complexity and heightened scrutiny of postnuptial agreements, it is advisable to have them drafted by a Michigan family law attorney, who will ensure that the agreement complies with legal standards, includes all necessary provisions, and minimizes the risk of future disputes.
Dawson Family Law, PLLC, based in Troy, Michigan, specializes in helping clients navigate the intricacies of postnuptial agreements. Their experienced attorneys provide personalized guidance to ensure your financial interests are protected, offering peace of mind and security for your marital future. Please call 586-514-0084 or contact me online to arrange a free consultation.
