Uncomfortable Planning – Prenuptial Agreements

January 28, 2009

Uncomfortable Planning – Prenuptial Agreements

 

Emily Matson here from Moore Family Law.  I’d like to talk a bit this week about an important area in family law:  Prenuptial Agreements. 

 

 

Minnesota statute § 519.11 authorizes the use of “antenuptial” agreements (prenuptial in every day language) in order to give parties the chance to disclaim any interest in nonmarital or marital property after they are married. 

 

Prenuptial agreements are almost a necessity when one party comes from a family farm heritage, or when one party is part of an on-going family business.  Prenuptial agreements will limit the outside-spouse’s interest in property that is intended to stay within a particular family unit, whether a divorce occurs or not. 

 

One reason people rarely want to discuss prenuptial agreements is because they contemplate divorce before you have even said “I do.”  However, it can also provide for certain property settlements in the event of death of one spouse, even when there is not a divorce. 

 

In order to be enforced in Minnesota, a prenuptial agreement must be made after a full and fair disclosure of the earnings and properties of each party, and each party must have had the opportunity to consul with legal counsel of their own choice.  One lawyer can NOT advise both parties to the agreement.  The agreement must be in writing, witnessed by two persons, and notarized.  If the agreement covers any real property, it should also be recorded in the county where the property is situated. We can handle all of that at our office in Plymouth, Minnesota.

 

What kind of property can be disclaimed in a prenuptial agreement?  Well, for the specifics of your case, you’ll have to make an appointment with us to sit down and discuss your particular situation. 

 

Emily M. Matson, Esq.

Moore Family Law, P.A.

3350 Annapolis Lane North, Suite C

Plymouth, MN 55447

Phone:  (763) 951-7330

Fax: (866) 354-3531

emily.matson@moorefamilylawmn.com

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