Like the contents of an antenuptial agreement, the terms of a postnuptial contract can vary widely, but commonly include provisions addressing the division of property and spousal maintenance in the event of separation, divorce or the death of one of the spouses.
In Minnesota postnuptial contracts are available only to spouses who are legally married. Parties may enter into a postnuptial contract or settlement which will be deemed valid and enforceable if it:
- complies with the requirements for antenuptial agreements under Minnesota law, including, but not limited to, the requirement that it be procedurally and substantively fair and equitable both at the time of its execution and at the time of its enforcement; and
- complies with the requirements for postnuptial contracts or settlements as specified in Minnesota Statute 519.11.
A postnuptial contract or settlement that conforms with the law may determine all matters that may be determined by an antenuptial agreement under Minnesota law, except that a postnuptial contract or settlement may not determine the rights of any child of the spouses to child support from either spouse or rights of child custody or parenting time.
A postnuptial contract or settlement is valid and enforceable only if at the time of its execution each spouse is represented by separate legal counsel.
A postnuptial contract or settlement is presumed to be unenforceable if either party commences an action for a legal separation or divorce within two years of the date of its execution, unless the spouse seeking to enforce the postnuptial contract or settlement can establish that the postnuptial contract or settlement is fair and equitable.
Postnuptial contracts or settlements must be in writing, executed in the presence of two witnesses and acknowledged by the parties before a notary.
Postnuptial contracts or settlements may be amended or revoked only by a later, valid postnuptial contract or settlement which complies with the law.