Nuptial agreements are not an indication that either spouse believes that their marriage will fail. However, it is impossible to predict the future, so some may want to have a plan in case the marriage does fail at any point. No one gets married with the intention of ever getting divorced, so for most, a nuptial agreement is simply a safeguard that most couples never have to use.
There are several reasons why a couple may wish to establish a prenuptial (before marriage) or postnuptial (after marriage) agreement including:
- Defining the respective rights of the parties in the case that they divorce
- Defining how both parties will handle income during the marriage
- Clarify how both parties will define marital and non-marital assets that are acquired during the marriage
- Clarify how debts are paid during the marriage and how those debts will be characterized
- Determine the rights of each spouse in the case one passes away. (Minnesota law states that one spouse may not deprive the other of their marital share in a will, but a spouse may waive their marital share within a prenuptial agreement.)
As you can see, a prenuptial or postnuptial agreement isn’t just a safeguard against the dissolution of a marriage. It is a tool used to plan for the future.