Postnuptial agreements in Minnesota are not as widely known or used as prenuptial agreements, but they are just as important in terms of the protection they can offer, and just as damaging when not entered into fairly.
At Heritage Law Office, our postnuptial attorney in Minnesota handles these types of contracts. We know what red flags are, what language to use, and how to ensure our clients' interests are considered and their rights are upheld. Contact us today through our online form or at 414-253-8500 to schedule a free consultation and to learn more about how a postnuptial agreement may or may not benefit you and your marriage.
Postnuptial Agreements in Minnesota
A postnuptial agreement is a contract between two married people where they address what will happen to their property in the event of a divorce. Postnuptial agreements are very similar to prenuptial agreements with the major difference that they are entered into after the parties are married rather than before.
Some of the matters that may be addressed in postnuptial agreements are:
- The division of debts should the parties divorce
- How property, or assets, will be divided in case of divorce
- If/how monetary support will be provided in case of divorce
As long as the provisions are compliant with the laws of your state, most marital issues may be addressed.
Do Postnups Hold Up in Court?
When contracts are entered into, it is typically because two parties are bargaining over something, such as a piece of land. If one party does not agree to the terms, they have the ability to walk away from the agreement. With postnuptial agreements, the parties are already married, so there really is no bargaining power. Because of this, courts tend to look down on postnuptial agreements. However, if the agreement is fair in its terms, abides by local laws, and both spouses entered into it voluntarily, the court will usually uphold a postnuptial agreement.
Who Needs a Postnuptial Agreement in Minnesota?
A postnuptial agreement is recommended for many situations, but it is especially important in the following scenarios.
Business Owners. If you own a business and want to protect its earnings, even those that have occurred during the time of the marriage, a postnuptial agreement can help.
Fear of Financial Talks. If you and your spouse were worried about discussing finances prior to your wedding day but now that you are married, you see how a mutual agreement could be beneficial, a postnuptial agreement may be the route for you.
Inheritance. If you or your spouse has received an inheritance that you don't want to be considered a joint asset, a postnuptial agreement can help keep it separate in case of divorce. Also, if you begin to see that there may be inheritance disputes between the children you each had in previous relationships, a postnuptial agreement can prevent that from happening.
Do You Need a Family Law Lawyer in Minnesota for a Postnup?
In short, yes, you should have an attorney to represent you in a postnuptial agreement for several reasons:
- To be sure you are treated fairly in the agreement
- To have the agreement upheld, as a court is much more likely to say it is a valid contract if both parties were represented by counsel when they entered into it
- To be sure the terms of the agreement are something the laws in your state allow
Remember, when you hire an attorney, their job is to look out for your best interests.
Contact a Postnuptial Agreement Attorney in Minnesota Today
Postnuptial agreements in Minnesota do not have to be something to fear but can be something to help you and your partner prepare for the future for whatever may come. It's about being proactive with the caveat that the agreement is fair and mutually agreeable. Find out if a postnup is right for you and your unique situation and contact us today either through our online form or at 414-253-8500. We will schedule a free consultation with our postnuptial lawyer so that you can ask your questions and enter into an agreement that makes sense to you.
Frequently Asked Questions (FAQs)
1. What Is the Legal Validity of a Postnuptial Agreement in Minnesota?
In Minnesota, postnuptial agreements are generally considered valid as long as they adhere to certain conditions. The contract must be fair to both parties, be entered into voluntarily, and comply with state laws. Courts are likely to uphold the agreement under these circumstances, although it is advised to consult an attorney to ensure that your contract meets these requirements.
2. What Types of Property Can Be Included in a Postnuptial Agreement?
Any type of property, whether acquired before or during the marriage, can generally be included in a postnuptial agreement. This includes real estate, bank accounts, investments, and even debts. However, it's crucial to ensure that the distribution is fair and just, in line with Minnesota's property division laws.
3. Can Postnuptial Agreements Affect Child Custody or Support?
No, postnuptial agreements in Minnesota cannot include provisions related to child custody or child support. These matters are decided by the court based on the child's best interests, and any stipulations in a postnup regarding child-related issues will be disregarded.
4. How Is a Postnuptial Agreement Different from a Prenuptial Agreement?
The primary difference between a postnuptial and a prenuptial agreement is the timing. A prenuptial agreement is entered into before marriage, while a postnuptial agreement is made after the wedding. Both contracts deal with similar issues like property division and spousal support but are signed at different stages of the relationship.
5. Can a Postnuptial Agreement Be Modified or Revoked?
Yes, a postnuptial agreement can be modified or revoked if both parties agree to the changes. The modification or revocation must be done in writing and follow the same formalities as the original agreement, like having the document notarized. It's advisable to consult legal counsel to ensure that the changes are in compliance with state laws.
If you're contemplating a postnuptial agreement or have questions regarding its validity, you can contact us through our online form or directly at 414-253-8500 for a free consultation. We are experienced in family law matters and can guide you through the intricacies of postnuptial agreements in Minnesota.
