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As a general matter, in Minnesota, a prenuptial agreement must be in writing and signed by both future spouses. Additionally, the agreement must be executed in the presence of two witnesses and a notary. Finally, the prenuptial agreement should be signed before the couple marries to be enforceable.
In short, yes, a prenup can protect your house. Describing future assets in great detail in your prenup agreement can protect home purchases or income down the line.
Admittedly prenups are not perfect and don't account for the passage of time, adding they are invalidated by the court a little less than 50 percent of the time.
A prenuptial agreement does not cover the following: Child custody or visitation matters. Child support. Alimony in the event of a divorce. Day-to-day household matters. Anything prohibited by the law.
Protecting Your Prenup In Minnesota While many other states fall under what is known as the Uniform Prenuptial Agreement Act (UPAA), Minnesota does not. Because of recent case law in Minnesota, the validity of many prenuptial agreements is uncertain.
Are Prenups Enforceable? Prenuptial agreements, if drawn up and executed correctly, are legally binding and are usually upheld in court. One recent, high-profile case, however, has shown that prenups are not always ironclad.
Typically, prenups cost around $2,500, but can cost more if you spend a while haggling out various issues.
Prenups are thrown out when it matters most (during a divorce) all the time because they aren't drafted to hold up in a court of law; hiring an experienced attorney is critical to ensure your prenup is solid and enforceable.