Why You Should Consider A Prenuptial Agreement
People planning a life together are often reluctant to explore the possibility of that life not working out. Before dismissing the idea, you should explore the reasons why a prenuptial agreement makes sense.
A prenuptial agreement is most simply put an insurance policy against an event you hope never happens. You will never regret putting it in place, but you might regret it if you don’t.
The truth is that people change over time and there are many circumstances that can drive couples apart. In the event that a wedge pushes you apart from your spouse, a prenuptial agreement can simplify the process and make a challenging time much easier.
The Prudence Of Preparation
The end of a relationship is often complicated by the difficult task of deciding what belongs to whom. Divorce is particularly difficult because it requires a legal process and also because the couple’s relationship is strained. Arriving at fair compromises in these circumstances can be extremely difficult.
Prenuptial agreements, or antenuptial agreements as they’re called by Minnesota law, are contracts that many couples use to avoid the difficulties of separating their financial lives. Our experience at the Huson Law Firm, PLLC, is that honest and thorough financial preparation before marriage offers couples a better chance at a fair division of property.
Fairness Is The Goal
While antenuptial agreements are enforceable contracts in Minnesota, the law only allows them to be enforced to the extent that they’re fair. Fairness requires:
- Full and fair disclosure. Before signing an antenuptial agreement, each person must give the other a full disclosure of their earnings and property. If one person’s disclosure doesn’t meet this standard, the agreement may be compromised.
- The preference of using separate attorneys. It’s preferable for each party to have their own family law attorney review the contract. This is a procedural safeguard intended to ensure that both parties understand the full implications of the agreement. While it’s not required, using separate attorneys can help fight back a challenge to the agreement’s fairness.
- Substantive fairness from beginning to end. The substance of the agreement also has to be fair. This must be true when the agreement was made and when it’s given to the court during a divorce proceeding.
- Less than complete enforceability. The full enforceability of any antenuptial agreement depends heavily on the circumstances that exist at the time the agreement is introduced. Even if the terms are fair at the time the contract was made, if they’re unfair at the time of divorce, they’re not enforceable to the extent that they’re unfair. This may mean that only some of the agreement’s terms may be enforced or only partially enforced. Still, experience has shown our attorneys that a prenuptial agreement can set up a helpful framework for any couple getting married in St. Paul or Minneapolis.
Our lawyers have extensive experience with these agreements and how they’re interpreted by Minneapolis and St. Paul area courts. We’ve seen how fairness is judged. We know how to help our clients make prudent preparations and also how to fight for their interests.
Our Attorneys Are Available To Discuss Your Prenuptial Agreement Concerns
For more than 20 years, our attorneys at the Huson Law Firm, PLLC, have been focused on helping couples manage the complications of Minnesota family law. Conveniently located in St. Paul, our attorneys are available throughout the Twin Cities metropolitan area. Call 651-968-0822 or contact us online to schedule your free initial consultation.