Antenuptial agreements, also commonly referred to as prenuptial or pre-marital agreements, are strictly controlled by Minnesota statutes and case law. These agreements are contracts entered before a marriage and commonly include provisions for division of property and spousal support in the event of divorce or breakup of the marriage. A postnuptial agreement provides the same protection but is entered into after a marriage. While the content of marital agreements can vary widely, most determine the rights of the parties to property and responsibility for debt, and may determine whether spousal maintenance is paid.
More and more couples are signing prenuptial marriage agreements. The spouses are not just couples dealing with financial inequality or couples of great wealth — they are couples who want to put all their financial cards and related issues on the table before they walk down the aisle. A prenuptial agreement is especially important in second and third marriages, when a person wants to protect assets for his or her children from a prior marriage.
Issues may also arise in the divorce context with enforcement of an existing prenuptial agreement. In Minnesota, prenuptial agreements must not only be fair at the time they are entered into, but must also be deemed fair at the time of the divorce. If a couple or one spouse experiences unexpected or significant changes during the marriage that were not anticipated at the time the agreement was drafted, such as disability or drastic lifestyle changes, the prenuptial agreement may no longer be valid.
At Robinson | Duffy, PLLC, our experienced attorneys will advise you based upon your specific desires and financial circumstances and will gladly offer counsel, address your concerns, and assist in your efforts to draft and/or review a prenuptial agreement you can take confidence in agreeing to and signing. We will also review existing prenuptial agreements in the context of your divorce proceedings to determine whether the agreement is deemed fair now. Contact our attorneys today.