What Is a Minnesota Postnuptial Agreement?
A Minnesota postnuptial agreement is a contract couples enter into after marriage. It covers how to handle property, financial assets, and legal affairs during separation or divorce. A postnup protects the property and assets of both spouses if the couple breaks up or one spouse passes away.
Without a postnup, property distribution is determined by Minnesota’s equitable distribution laws under MN Rev Stat § 518.58. Equitable distribution divides the property of both parties between the spouses as the judge deems fair. Such property may include:
- Real estate
- Financial assets
- Furniture
- Businesses
- Vehicles
- Home improvements
- Pension or retirement benefits
A postnup and prenuptial agreement serve the same purpose. However, you enact a prenup before the marriage and a postnup while you’re married.
How to Write a Postnuptial Agreement in Minnesota
A well-written postnup lets you decide on property distribution without the stress of prolonged divorce proceedings or probate court. To create a postnuptial agreement in Minnesota, take the following steps:
- Enter marriage details: Include the full names of both spouses and your full residential address. Note the date, city, and state where your legal marriage took place.
- Name children: List the number of children you and your spouse have together. Also, list any children you brought to the marriage from previous relationships.
- Provide financial disclosures: Include assets, net worth, income, holdings, debts, or liabilities. Use statements and other financial documentation for full and fair disclosure, per MN Rev Stat § 519.11.
- Determine property distribution: Decide how to divide the property you owned before marriage and any marital property. Under MN Rev Stat § 518.003, marital property includes assets acquired by either spouse during the relationship.
- Establish business asset division: If you or your spouse opened a business before or during the marriage, advise how you want to divide the business’s value upon separation.
- Determine how to treat debts and liabilities: Establish who will own the debts and liabilities each spouse owed before the marriage. Consider how to divide the debt incurred during the marriage by the individual spouses and both parties. Also, indicate whether you plan to file taxes jointly or separately.
- Specify housing arrangements and pet care: Decide how to divide the marital home and household expenses if the marriage ends, including who will care for pets. Consider adding a pet custody agreement to explain caretaker responsibilities.
- Determine spousal support: State who will be responsible for spousal support if the marriage is terminated. Include how much and how often payments will occur. Without a postnup, the default option includes potential spousal support underMN Rev Stat § 518.552. Your postnup can override the standard distribution method, but only if the court finds it fair and equitable.
- Add final details: Add any provisions that apply to your specific situation. These may include waiving spousal rights, spousal support in the event of disability or death, dispute resolution, and state laws governing the agreement.
- Sign and notarize: Include a notary acknowledgment with the state and country where the spouses will sign the agreement. Sign and date the contract in the presence of a notary.
Sample Minnesota Postnuptial Agreement
Below, you can view a sample Minnesota postnuptial agreement to understand what it looks like. Then, write your own using our template and download it in PDF or Word format.
Legal Requirements and Considerations for Minnesota Postnups
Every state has different legal requirements for postnups. These are some of the primary legal considerations for creating a postnup in Minnesota.
Signing Requirements
MN Rev Stat § 519.11, Subd. 1b(b)(3) requires both spouses to sign the agreement in writing. The signing must be in the presence of two witnesses and acknowledged by a notary public.
Legal Representation
Both parties must have independent legal counsel of their choosing. This is to ensure procedural fairness, per MN Rev Stat § 519.11, Subd. 1d(2)(c).
Excluded Terms
Per MN Rev Stat § 519.11 Subd. 1d, postnups can include the same information as prenups. Under broader state law and public policy, postnup terms that violate fairness standards and statutory rights (like child support) cannot be enforced.
Voluntariness
A postnup is only valid if entered voluntarily and not under duress, per MN Rev Stat § 519.11, Subd. 1(b)(4).
Full Disclosure
Both parties in a postnup must provide full and fair financial disclosure of income and property, according to MN Rev Stat § 519.11, Subd. 1(b)(1).
Validity & Enforceability
A postnuptial agreement is not valid in Minnesota if either spouse starts separation or divorce proceedings within two years of the agreement’s date unless they can prove the agreement is fair and equitable, per MN Rev Stat § 519.11, Subd. 1d(d).
