When planning a wedding with your future spouse you probably don’t want to consider divorce, but a prenuptial agreement can be extremely beneficial for many Minneapolis couples. The agreement, also called a “prenup,” is meant to protect the assets you are bringing into the marriage from becoming co-mingled marital property. In some situations, marital property will be divided equally, even if you contributed much more to the marital property than your spouse.
Prenups can be simple or complex, but they are almost always enforced by a court if they are fair. Some are simple contracts that list the two future spouses’ individual assets and state they will remain separate if the couple divorces. Sometimes they are a little more complex and split business income or make plans for how future assets will be split. Prenuptial agreements cannot avoid or limit child support payments or predetermine child custody or visitation.
Prenuptial agreements must be fair, which requires that you and your fiancé/e honestly disclose your assets when crafting an agreement. Most states require that prenuptial agreements be fair at the time you sign them and at the time you enforce them, but because prenup laws can change by state, it is important to speak with an experienced family law lawyer while preparing an agreement.
Many family law experts recommend that couples take certain steps when crafting a prenup. One of the worst things you could do, says one expert, is to sign a prenuptial agreement after having had something to drink. You should be thinking clearly and carefully read what it is you are about to sign, as a prenup is a binding contract. You should also prepare a prenup well in advance of the actual wedding. If you wait too long, you will be so worried about the agreement that you can’t enjoy your wedding and the beginning of your marriage.
Source: MSNBC, “Signing a prenup: In case ‘I do’ becomes ‘I don’t’,” Robert DiGiacomo, Aug. 24, 2011