The last thing anyone who is newly engaged wants to think about is divorce. You are feeling high from the joy of planning your life with the one you love – bringing legal papers and provisions into it can dampen the mood. While we don’t suggest handing prenuptial papers to your partner right after popping the question, it is something that should be considered before you say, “I do.” Here are some basics you need to know about antenuptial (commonly referred to as a prenuptial) agreements.
Who Should Consider an Antenuptial Agreement?
Not all couples heading toward the alter need an antenuptial agreement. In fact, most young people who are taking vows for the first time will not need a legal agreement to protect them in case of divorce. Prenuptial agreements are designed for those who have legal interests to protect, whether it be large assets, a business, children or liabilities. It is not only wealthy people who can benefit from a premarital contract – there are many issues that can be covered in these legal documents. Some of these issues include:
- Family-owned property – Protecting family estates or heirlooms can be important, regardless of value. Those with generational property may want to ensure it remains in the family and is not lost in a divorce settlement.
- Children from previous relationships – Prenuptials, or prenups, can cover issues regarding children from a previous marriage or relationship. This can include protecting assets for the children in the case of divorce or death.
- Debts and liabilities – Prenups do not only protect assets; they can protect one spouse from being held responsible for the debts acquired by the other spouse before marriage.
- Simplify divorce – Antenuptial agreements can outline the division of property if divorce occurs, simplifying the process and legal expenses.
The Benefits of an Antenuptial Agreement
Antenuptial agreements can provide protection and reassurance for both parties before entering into a marriage. Full disclosure and careful preparation of the antenuptial agreement are needed to ensure the agreement performs as desired.
At Lake Harriet Law, we can help you prepare for your upcoming marriage by ensuring you and your future spouse will be protected in case of divorce. To learn more about antenuptial agreements and Minnesota law regarding these contracts, please contact us to schedule a consultation.
At Lake Harriet Law Office, we provide an exceptional, data-focused approach to Family Law. Please contact us to schedule a consultation at 612-750-4843.
Managing Attorney – Randall A. Smith
Student Attorney – McKenzie Harter
Student Attorney – Taylor Blatchford
Student Attorney – Katie Arndt