Many couples in Minnesota decline to sign a prenuptial agreement before they get married, feeling that it will “curse” their marriage. However, a prenuptial agreement doesn’t have to be seen as a bad omen. In fact, signing a prenuptial agreement shows that both parties are responsible people who simply want to protect their assets in the event that the marriage ends in divorce.
Why should couples sign a prenuptial agreement?
Most couples can benefit from prenuptial agreements. However, a prenup is especially important in certain situations. If one or both of the individuals has children from a previous marriage, they might wish to sign a prenup to ensure that their children’s inheritance will be protected after a divorce. Otherwise, their former spouse might be entitled to some of their children’s assets.
If an individual has a family business, they may also wish to sign a prenup. If they don’t, their former spouse could be entitled to some of their business assets after they split, which might ruin the family business altogether. Finally, couples should consider signing a prenup if one of the individuals has more money than the other. Otherwise, an individual could lose a great deal of their wealth during the divorce.
How can a couple draft a prenuptial agreement?
Of course, drafting a prenup isn’t as simple as writing an agreement and signing the bottom of the page. A couple might wish to hire a lawyer to assist them in drafting a professional, legally binding prenup that can be used if the couple ever files for divorce. If the couple elected not to sign a prenup, a lawyer may assist them with drafting a postnuptial agreement during the marriage. The lawyer might offer legal guidance to help both individuals protect their assets.