What goes into creating an effective antenuptial agreement?
Burnsville, MN family law attorney John Burns talks about what makes an effective antenuptial agreement.
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Well, a prenuptial agreement under Minnesota law is actually referred to as an antenuptial agreement, and the benefit of having that is that we can define what would be the assets that would fall into the category of exempt from consideration by the court if we needed to have a divorce later. The primary goal in putting together an antenuptial agreement is making sure that we capture all of the present assets and that we have a detailed list and valuation so that there’s benifold disclosure. That meets the substantive fairness requirement of a valid antenuptial agreement. We also need to deal with procedural fairness, and I explained to my clients that if they want an antenuptial agreement, we need to do it as far in advance of the wedding as possible. There’s been case law in Minnesota that people that try to do an antenuptial agreement the week before or the day before – that that hasn’t stood up because there was too much duress created for everybody involved. So, substantive fairness, procedural fairness, and making sure that we have an accurate list of all of the assets and liabilities – that’s how we do a good antenuptial agreement.