While your relationship may seem bound for happily ever after, the fact is divorce happens; and then what happens? There are many reasons that marrying couples consider prenuptial agreements in anticipation of marriage. If you and your partner own a shared business, have a vast difference in incomes, or have either been previously married, you may have concerns regarding your future. A prenuptial agreement is not an indicator that your marriage will one day collapse, but rather a safety net protecting you in the event that it does. The attorneys at Arnold & Rodman PA understand the concerns you have for your future and can assist in drafting an agreement to protect it.
All couples can benefit from signing a prenuptial agreement. A prenuptial agreement outlines how your assets will be divided in the event of separation. This can include all financial assets, estates, and debts that you and your partner have collected prior to marriage. It may also include an outline of how you will distribute the assets you have gained while married. If you are considering a prenuptial agreement, the attorneys at Arnold & Rodman PA will work with you and your significant other to analyze your personal concerns and assets and carefully draft an agreement to protect your future before you say, ‘I do’.
Minnesota Prenuptial Agreements
Prenuptial agreements, also known as antenuptial agreements, govern the rights of the parties upon divorce, legal separation, or death of a party. Under Minnesota law, antenuptial agreements are presumptively valid and enforceable if:
(a) There is a full and fair disclosure of the earnings and property of each party
(b) The parties have had an opportunity to consult with legal counsel of their own choice.
However, under Minnesota law, if the enforceability of an antenuptial agreement is contested, the court must also consider the procedural and substantive fairness of the agreement.