Marital problems are not only a family law issue – they can create problems with estate planning, as well. If you get divorced and later remarry, there may be disputes if your children from your first marriage or your blended family disagree on the terms of your will. For you and other Detroit residents, creating a prenuptial agreement may be a way to avoid the hassle of an estate planning dispute down the road.
Are prenuptial agreements solely in the jurisdiction of divorce attorneys? Family law, fortunately, can span across numerous fields, including estate planning. Therefore, it may be possible to discuss creating a prenup with your estate planning attorney. According to Business Insider, prenuptial agreements might specify the property you and your spouse owned separately before you were married. Rather than being considered joint property that you and your spouse attained during the marriage, your own assets would not be divided after a divorce. For example, if you inherited a vacation home while you were engaged, you could state in a prenup that this property is solely yours if the marriage were to end. You might also include in a prenuptial agreement how you will handle taxes, divide your marital debt and pay legal fees after a divorce. If you and your spouse purchase a home together, you could write in your prenup which of you should get the home, or if the home should be sold and the money divided.
It is also possible to create a postnuptial agreement after your wedding or to periodically modify a previous agreement. This type of estate planning may be complicated, and this information should not be taken as legal advice.