Many couples contemplating marriage, or even after marriage, opt for a prenuptial or postnuptial agreement so as to reduce or eliminate entirely, the uncertainty and anxiety that comes
with dividing assets at the time of a marriage dissolution, annulment, legal separation or upon the death of a spouse. The goal of a well-drafted prenuptial or post-nuptial agreement is to determine (before a major life-event such a divorce, separation, or loss of a loved one) what should happen with any rights that attach to a spouse’s property interest because of the marriage relationship.
If you have uncertainties or concerns about what might happen to your property interests during a marriage, it is very important to speak to an experienced attorney about the impact that a marriage can have upon those rights. It may be that a prenuptial or post-nuptial agreement can help you. Be sure to check out our antenuptial agreements in Minnesota blog article for more information.
Helping You Protect Your Assets
When a couple has a prenuptial or post-nuptial agreement prepared it is sometimes because one or both spouses has an interest in property that she or he may want to ensure does not come under the control of a judge in the event of a divorce, legal separation or death. Sometimes it is a family business, a house, or a trust. While these assets may be considered ‘non-marital’ assets in a divorce or legal separation, there are times when ‘non-marital’ assets can be brought into the property division process, especially when those assets put the spouse with few assets at a
Guidance In Enforcing Prenuptial or Post-Nuptial Agreements
Before a prenuptial or post-nuptial agreement can be enforced, a court must be convinced that both parties to the agreement fully disclosed their assets, debt, and earnings. Both parties also have to acknowledge that they have the right to their own attorney. A post-nuptial agreement differs from a prenuptial agreement in that a post-nuptial agreement requires that both parties have their own attorney AND with some exceptions, the agreement cannot be enforced within two (2) years from the date it was signed. Finally, the agreement must be in writing, not a verbal agreement.
Can a Court Reject a Prenuptial or Post-Nuptial Agreement?
There are times when a prenuptial or post-nuptial agreement can be unenforceable. Agreements between spouses or future spouses that deal with child custody or parenting time rights regarding minor children are not enforceable. Or, if a court believes that the agreement is unfair to one party a court can refuse to enforce it.
For example, if a spouse (or future spouse) signs away his or her rights to any right to property that a married couple may acquire during the marriage, or gives up her or his right to receive spousal maintenance (or alimony) and gets nothing in return for giving up her or his rights, there is a good chance a court will decline to enforce the agreement because of a lack of consideration or equity received by that spouse.
Contact A Minneapolis Divorce Attorney
A prenuptial or post-nuptial agreement is a way in which a couple can settle many potential property or financial disputes in case of a divorce, legal separation, or death. A prenuptial or post-nuptial agreement is not an indication of a lack of faith in the marriage, but an acknowledgement that anything could happen at any time. If you would like to have prenuptial or post-nuptial agreement drafted by an experienced attorney, call 952-303-6007 to schedule a free consultation.