Wedding planning can be so much fun in Minnesota. There’s the dress, the photographer, the caterer, and the flowers. One area which can get overlooked, however, is the prenuptial agreement. Sure, it might not seem like as much fun as tasting cakes and picking your first dance song, but it is something that needs to be considered in the midst of the wedding preparations.
Whether you are entering your new marriage with significant assets or a few modest accounts and properties in your name, there are a number of smart reasons to create this contract with your soon-to-be spouse. A prenuptial agreement can help outline your wishes for dividing property or spousal support in the event that the marriage should end in divorce. While no newlywed wants to thing about their marriage ending in divorce, the fact of the matter is divorce is a possibility and a well drafted prenuptial agreement can save money and headache in a divorce. A prenuptial agreement can also determine what happens to property upon one spouse’s death. A prenuptial agreement can be one vital piece of a total estate plan.
Prenuptial agreements are not limited to people with million dollar estates. Anybody with children from a previous relationship should consider using a prenup to protect their children’s future. Anybody with a business interest or an interest in real estate should also consider a prenup. There are several reasons why a prenuptial agreement could be beneficial. A skilled Minnesota family and estate planning lawyer can help you quickly and effectively put together a prenuptial agreement that fits your specific situation.
When creating a prenuptial agreement in Minnesota, it is recommended that each partner hire a separate family and estate planning lawyer to ensure that both of their interests are being considered in the legal document. While there is already plenty to do during this time, choosing an attorney early on in the planning can help to minimize overwhelm before your big day. A good prenup lawyer will have plenty of good advice for you and will make the process as quick and easy as possible.
Laws in Minnesota can vary from those in other states, but some of the most likely things the prenup lawyer will advise you about are the fact that both parties must voluntarily sign the prenuptial agreement (no one can be forced into it), it must be in writing, and both parties must fairly disclose their assets. If you are concerned your prenup could take some time to negotiate, then it is important to be in touch with a prenup lawyer well in advance of the wedding day. Putting it off until the last minute can throw a stressful monkey wrench into your plans.