In today’s world, divorce has become commonplace, affecting the lives of approximately one half of married couples across the United States.
Antenuptial Agreements in Minnesota
Minnesota law provides a process for couples to enter into agreements to determine what will happen to their finances and property in the event that the marriage ends in divorce, separation, or with the death of one of them. Such agreements are called antenuptial agreements. The terms prenuptial agreement, or premarital agreement, are different words for the same document.
The term “ante” means before and the word “nuptial” refers to marriage. Placed together, the term “antenuptial” simply means before the marriage. This agreement, like any contract, can involve a variety of terms and act as a safeguard for each individual in the event of divorce or the death of one spouse.
In Minnesota, antenuptial agreements are enforced by the courts if they are both procedurally and substantively fair. Most individuals enter into a contract with a future spouse to protect assets they want to keep separate from marital property, but the agreements can be an effective tool for deciding how to pay off marital debt and structure spousal maintenance.