Proven Legal Guidance For Antenuptial (Prenuptial) Agreements
Antenuptial (prenuptial) agreements are a means of protecting assets in the event of a divorce or death. Antenuptial agreements are established before a marriage, while postnuptial agreements are established during the course of a marriage. Many antenuptial agreements are struck down by judges because they are poorly drafted. At Krueger, Juelich & Schmisek, PLLC, our lawyers know how to draft documents that stand up to scrutiny.
If you wish to establish an antenuptial agreement in Minnesota, or have concerns about signing one, it is important to consult with an experienced divorce lawyer before making any important decisions. The family law attorneys at Krueger, Juelich & Schmisek, PLLC, have drafted numerous agreements protecting the assets and property of clients throughout the Twin Cities. Call our Minnetonka office now at 866-217-7467 to schedule your initial consultation.
Is An Antenuptial Agreement Right For You?
Antenuptial agreements aren’t for everyone, but for many, they are a practical step that, once established, allows a couple to get married without nagging financial concerns. Antenuptial agreements are especially useful for people entering into a subsequent marriage, for those with significant nonmarital assets, and for those with children from outside the marriage. Our attorneys are here to help you explore your options, so you can decide if an antenuptial agreement is right for you.
What You Should Know About Antenuptial (Prenuptial) Agreements
Knowing when to start a prenuptial agreement, known in Minnesota as an antenuptial agreement, and what it can cover can help you make informed choices before marriage.
When should we start the antenuptial agreement process?
Start the process well before your wedding date. This gives both parties time to meet with their lawyers, discuss the terms, and review the written agreement. It also gives you time to gather information about your income, property, debts and other financial interests.
If at all possible, you should sign the agreement at least seven days before the wedding. Executing an antenuptial agreement at least seven days before the wedding creates a statutory presumption that the agreement is enforceable, provided the process was otherwise procedurally fair. This puts the burden of proof on anyone challenging it. If you sign fewer than seven days before the wedding, you lose this presumption and the spouse seeking to enforce the agreement must prove that it is valid.
What financial arrangements can and cannot be included in an antenuptial agreement?
An antenuptial agreement can cover many financial matters. In Minnesota, you can use one to assign rights to marital and nonmarital property, divide debts, set or waive spousal maintenance as well as address estate and inheritance rights. You can also identify property you own before marriage and explain how you want certain assets or debts treated during the marriage or if you divorce.
However, an antenuptial agreement cannot control every issue. Terms regarding children, including child custody along with financial matters such as child support, cannot bind a court in the future. The court must decide those matters based on the child’s best interests and applicable law at the time the issues are presented to the court.
Minnesota law mandates full and fair disclosure of each party’s income and property prior to executing an antenuptial contract. Statutory law does not recognize a premarital waiver of financial disclosure as a valid substitute.
What makes an antenuptial agreement legally valid in Minnesota?
A Minnesota antenuptial agreement must meet certain legal and fairness requirements. You must put the agreement in writing, have both parties sign it before two witnesses, and have it acknowledged by a notary.
The agreement must also include full and fair disclosure of each party’s income and property, including debts. This requirement cannot be voluntarily waived. While it is best for both parties to an antenuptial agreement to have lawyers, it is not required, provided that the unrepresented party has a meaningful opportunity to consult an independent attorney. Both parties must sign voluntarily and without duress. Both parties should have enough time to read the agreement, understand its terms, and if they choose, discuss it with their own attorneys.
Signing at least seven days before the wedding creates a statutory presumption that the agreement is enforceable. If you sign fewer than seven days before the wedding, the presumption is lost and the spouse seeking enforcement must prove that the agreement is valid.
Can an antenuptial agreement be modified after marriage?
Under Minnesota law, you can change or revoke an antenuptial agreement after marriage only through a formal postnuptial agreement. You cannot simply change or revoke the original agreement yourself after the marriage has begun. Each spouse must have a separate attorney when signing a postnuptial agreement, which is not the case with antenuptial agreements.
Postnuptial agreements are similar to antenuptial agreements in many respects, both in terms of process and substance. However, a postnuptial agreement is presumed to be unenforceable if a party commences a divorce, dissolution of marriage, or legal separation within two years of the agreement’s execution. This presumption can be overcome in certain circumstances.
If you are considering an antenuptial agreement, getting legal guidance early can help you understand your options and avoid problems. Our family law attorneys can assist with drafting, reviewing and addressing concerns about antenuptial and postnuptial agreements.
Contact Our Law Firm For More Information
We are here to handle all of your family law needs, including drafting and reviewing antenuptial agreements. Contact us online or by telephone at 866-217-7467 to learn more about how we can protect your assets and your rights.