Getting Married? Consider a Prenuptial Agreement

January 8, 2013 - by Eric Anderson

Once stigmatized (perhaps unfairly) as a bad omen to a marriage, prenuptial agreements (ante-nuptial or premarital agreement) are increasingly popular methods of family and estate planning.  They are a useful tool that can serve several important purposes.  Minnesota law provides for certain rights and property dispositions to spouses upon the termination of a marriage due to Divorce or Death.  However, Minnesota law allows parties contemplating marriage to enter into contracts which re-define these rights and property dispositions.

Common Reasons for  Prenuptial Agreement.  There are many reasons to enter into a premarital agreement - some of the most common include:

Requirements for a Prenuptial Agreement.  Because prenuptial agreements basically allow you to enter into contracts to change the law regarding your property, it is very important to follow the requirements.  A court will scrutinize the agreement carefully if it comes under challenge.  Under Minn. Stat. 519.11, a prenuptial agreement must meet the following requirements.

In addition, the agreement must be substantively fair at the execution of the agreement and at the enforcement of the agreement.  The Minnesota courts have held that the basic test for enforcing the agreement is whether the circumstances on which the agreement were originally based have so drastically changed that enforcement of the agreement would not comport with the reasonable expectation of the parties at the inception of the agreement, thus making it unconscionable. 

Speak to a Minnesota estate planning attorney if you have questions or think a Prenuptial Agreement would be useful in your situation.  

Disclaimer: No case or client-specific information shall be discussed on this website. The content provided is informational only and should not be construed as legal advice. If you have questions about divorce or custody in Minnesota , please seek the advice of an attorney.