Understanding marital contracts in Minnesota

Couples who reside in Minneapolis and that are contemplating marriage as well as those already married can find prenuptial and postnuptial agreements useful.

Dating, engaged or even married couples in Minneapolis should take the time to learn about modern prenuptial agreements and postnuptial agreements and how they can benefit from these documents. Like their counterparts of decades ago, today's marital contracts do offer the ability to safeguard assets from loss in the event that a future divorce takes place. However, that is far from the only benefit these agreements may offer couples.

How society has impacted marital contracts

Many shifts in society have led to changes in how prenuptial agreements may be used or why people would wish to enter into these contracts. Many marriages in the U.S. today are remarriages. In these situations, one or both spouses may have children from prior marriages that they wish to provide for including after death.

The desire to outline post-death wishes for financial assets, family heirlooms and more can be a strong reason to create a prenuptial agreement. As noted by the New York Daily News, a prenuptial agreement in conjunction with estate planning can help avoid after death many unpleasant situations.

Social media is a standard part of our world today. While usually that is viewed in a positive manner, when the dissolution of marriage takes place, it can be tempting for one partner to make posts about the other that are less than glowing. With that in mind, Fox News reported considering including a social media clause in a prenuptial agreement. These clauses outline what each partner may or may not post on public forums about the other.

It is important when developing these clauses to be clear and reasonable in all stipulations. When one partner attempts to control another in a frivolous way, a prenuptial agreement may be invalidated. Publications like the Huffington Post have stressed the need for reasonableness in all aspects of a marital contract

Special benefits of postnuptial agreements

After marriage a new vulnerability may arise when a couple chooses to have one spouse quit working to stay home with children. The Daily Beast points out that a postnuptial agreement may provide the security of addressing support for the at-home parent after a divorce. People who take several years off from a career may find it difficult to resume working at a comparable pay rate, thus making these contracts important.

Get professional assistance

Prenuptial agreements and postnuptial agreements are legally binding contracts that require the inclusion of specific procedural safeguards. Further if overreaching, these agreements may be invalidated. For these reasons, in Minnesota it is important to work with an attorney when preparing such an agreement.

Keywords: prenuptial, postnuptial, agreement, contract