What is an Ante-nuptial Agreement and Do I Need One?
Let our Minneapolis and St. Paul Family Attorney Explain
An ante-nuptial agreement, also known as a prenuptial agreement or premarital agreement, is an agreement that two people enter into prior to getting married. The ante-nuptial agreement spells out the disposition of assets and liabilities in the event of a divorce, separation or the death of one of the parties. Ante-nuptial agreements can be quite complicated, and it is best to have a qualified St. Paul and Minneapolis family lawyer draft this document, or in the very least, to have the attorney review the document before it is signed by the parties.
If an ante-nuptial agreement is procedurally and substantively fair, it will be enforced by the Court. This contract protects the non-marital assets of one or both spouses. It outlines property that is to be kept separate and never deemed marital property, even though that property may become co-mingled in the marriage. Steven H. Snyder & Associates can help draft an ante-nuptial agreement to protect assets or to ensure that children from a previous marriage retain an interest in certain assets.
An ante-nuptial agreement ensures that property division during a divorce is simplified. If drafted properly--even if non-marital assets are co-mingled--they remain non-marital assets.
Some people enter into ante-nuptial agreements, because they would like to delegate certain duties in the marriage such as who will do the chores or how many times the parties must have sexual relations each week. These agreements are not enforceable, as enforceability is not feasible. A qualified Twin Cities family law lawyer can advise a party of his or her rights regarding ante-nuptial agreements and the types of conditions that should be in an ante-nuptial agreement.
Tips For Ante-nuptial Agreements
- Draft and sign an ante-nuptial agreement prior to sending out wedding invitations. If duress was involved in the signing or drafting of the agreement, the Court may disregard all or part of the agreement.
- Each person should complete a Family Law Financial Affidavit and notify the other of exactly what assets and liabilities each has and what the assets and liabilities are worth prior to the signing of the ante-nuptial agreement. Should the court determine there was fraud involved, it can disregard all or part of the agreement.
- Once drafted, the future spouse should have a chance to take the agreement to his or her own attorney for review. The agreement should be fair now and in five, 20 or 50 years, else the Court could declare that the agreement is so unfair that it could not be enforced.
- The agreement must be properly witnessed and properly executed procedurally, else it will be deemed invalid.
Ante-nuptial agreements that are deemed unfair or otherwise invalid can affect property division and spousal maintenance during the divorce proceedings. Extreme care should be taken when drafting an ante-nuptial agreement.
Talk with a qualified Minneapolis and St. Paul family attorney today about your ante-nuptial agreements.