You’re excited to walk down the aisle and begin a new life with your sweetheart. You’re also, however, intent on protecting the legacy you’ve worked so hard to create. You may be the perfect candidate for a prenuptial agreement. This legal document provides valuable protection in the event of divorce. It does not mean that you expect your marriage to end. Instead, think of it as insurance — capable of granting you peace of mind even though you hope to never actually use it.
Creating And Amending a Prenuptial Agreement
In Minnesota — where prenups are officially known as antenuptial agreements — such contracts must be made in writing and executed while two witnesses are present. As its unofficial name implies, the prenuptial contract must be entered into and executed before witnesses prior to marriage.
No two prenuptial agreements look exactly alike. In general, however, these contracts tend to highlight the following considerations:
- The rights partners have to property currently held as individuals or as a couple.
- Whether either party is entitled to alimony in the event of divorce.
- How marital property or debt would be divided during a future divorce.
In Minnesota, child support cannot be included in prenuptial agreements, as it by law belongs to the child and not the parent.
Regardless of which stipulations are included in the contract, it is only valid if both parties disclose all earnings and property. Additionally, both people should have the opportunity to meet with separate attorneys. Following marriage, prenuptial agreements can only be changed or revoked by completing official postnuptial contracts.
If you’re interested in pursuing a prenuptial agreement, don’t hesitate to seek legal support. The team at the law firm of Barna, Guzy & Steffen, Ltd. can help — contact us today to learn more about pre and postnuptial contracts.