Legal Question in Family Law in Minnesota
Rights and Responsibilities in MN Marriage & Cohabitation
I am a woman of modest means and bought my first home at about the same time I met my fiancee. My fiancee is not good with money and has debts and credit problems of concern. Can a prenuptual agreement protect me and my house against his follies, or should I reconsider marrying this man? Can a prenup protect me from mistakes he makes in the future? Also, what are the rights and responsibilities of cohabitating couples who are not married to each other; do I need a cohabitation agreement to protect my assets even if we do not marry?
1 Answer from Attorneys
Re: Rights and Responsibilities in MN Marriage & Cohabitation
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Prenuptial agreements have a limited scope in Minnesota. For the most part, they preserve and define non-marital claims. The Court looks at the prenuptial agreement at the time of divorce to determineif it is reasonable based on the circumstances exiistingat the time of divorce and not at the time the prenup was executed.
As a result, based on the circumstances that you describe, you run the risk that a court will not uphold a prenuptial agreement as it relates to increased equity in your home that accrued during the marriage.
There is significantly more latitude available for unmarried couples who enter into a cohabitation agreement. You may effectively avoid losing any accrued equity in youyr home with such a document as well as limiting your liability on debts incurred by your partner.
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