A North Dakota postnuptial agreement is a legal contract between married couples, detailing the division of assets in the event of divorce or death.
Known as a marital agreement, it’s established after marriage, unlike prenuptial agreements which are signed beforehand. Without these agreements, divorce proceedings follow state laws, allowing for significant judicial redistribution of assets. Interestingly, both postnuptial and prenuptial agreements are treated equally in this state.
Legal Considerations
The North Dakota Uniform Premarital and Marital Agreements Act governs all agreements made before and during the marriage, which includes postnuptial agreements.
- Signing Requirements: Agreements need to be written and signed by both parties (§ 14-03.2-05).
- Dividing Property: Equitable distribution.
Asset and Property Rights
Property, Contracts, and Torts
Married individuals retain the same legal capacities they had before marriage concerning property, contracts, and torts. They can engage in legal actions in their name and face the same liabilities as when they were single, including being sued by their spouse. [1]
Contracts Involving Property
Both spouses have the autonomy to engage in transactions or contracts related to property with each other or third parties, similar to their rights if they were unmarried. [2]
Estate Planning and Inheritance
Nonprobate Transfers on Death
Nonprobate transfers on death include provisions in various legal instruments (e.g., insurance policies, employment contracts, securities) allowing for the transfer of assets upon the decedent’s death to a designated beneficiary. These transfers are not considered testamentary and can be specified in the document itself or a separate legal writing.
- Beneficiaries can be designated to receive money or benefits controlled by or owed to the decedent prior to their death.
- Provisions can specify that obligations under the instrument terminate upon the death of the involved parties before payment or demand.
- Property controlled or owned by the decedent before death and covered by these instruments can be transferred to a designated person upon the decedent’s death.
These provisions do not affect creditors’ rights under other state laws. [3]
