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Getting married means planning for more than just the big day. If you’re considering a prenuptial agreement, have you considered how a prenuptial agreement might shape what happens if one of you passes away?
Prenuptial agreements are often viewed as divorce planning tools, but they also play a significant role in shaping how your estate is handled if something happens to you. When paired with a well-crafted will or trust, a prenuptial agreement (or “prenup”) can provide clarity, protect loved ones, and support your long-term goals.
What a Prenuptial Agreement Does
A prenuptial agreement is a contract a couple signs before getting married. In Minnesota, it lays out each person’s rights and responsibilities regarding property, debts, and income both during the marriage and if the relationship ends, whether through divorce or death.
Common terms in a prenup include:
- What property stays separate and what becomes marital
- How premarital debt will be handled
- Whether one spouse will be entitled to spousal maintenance
- Waiver of certain inheritance rights
While many couples use prenups to protect finances in the event of divorce, these agreements also influence estate planning, especially when children from prior relationships, family heirlooms, or significant assets are involved.
How a Prenup Interacts with Wills and Trusts
A prenup and a will or trust work together, not in place of one another. The prenup can help set expectations, but estate planning documents are what actually carry out those instructions after death. For example:
- A spouse might waive the right to claim a portion of the estate under Minnesota’s elective share law.
- A trust might be created to provide income to a surviving spouse while preserving the principal for children from a previous marriage.
- The prenup may clarify which assets stay separate and should not be transferred or commingled.
Without estate planning documents, a prenup can only go so far. The probate court will still follow default state laws if there’s no will or trust, even if those laws don’t match the agreement between the spouses.
Key Terms in Prenups That Affect Estate Plans
Certain provisions in a prenup will directly shape an estate plan. These may include:
- Waiver of inheritance rights – A spouse may give up the right to inherit under state law.
- Requirements to maintain life insurance – Some prenups include terms that require one or both parties to carry life insurance for the other’s benefit.
- Specific gifts or property assignments – The prenup might spell out what items or accounts each person keeps, regardless of marital status at the time of death.
- Agreements about trusts – A prenup can lay the groundwork for future trust creation or funding.
Minnesota courts generally enforce these terms if the prenup was entered into voluntarily and with full financial disclosure. Each spouse should be represented by their own attorney to ensure fairness and reduce the risk of challenges later.
Why You Still Need a Will or Trust
A prenup outlines intentions, but it doesn’t transfer assets. That’s where a will or trust comes in.
A will:
- Names beneficiaries for property
- Appoints guardians for minor children
- Ensures that personal wishes are followed
A trust:
- Helps avoid probate
- Can manage assets for a surviving spouse or children
- Offers more privacy and control
You’ll also want supporting documents, like powers of attorney and advance healthcare directives, which aren’t addressed in a typical prenup. An estate plan covers more than asset division. It addresses what happens if you become incapacitated or pass away.
Protecting Both Parties: Transparency and Fairness Matter
Minnesota courts will only uphold a prenuptial agreement if it was entered into freely, with both parties having full knowledge of each other’s financial situation. If the agreement feels one-sided or was signed under pressure, it may not hold up.
Prenups that are clear and fair can reduce conflict and protect both spouses. They help avoid misunderstandings and ensure that both parties’ wishes are respected in the event of death or divorce. Taking the time to plan together and with open communication can create peace of mind for both partners.
Plan Ahead with Confidence
Marriage is a partnership, and planning for the future is part of that commitment. A prenuptial agreement paired with a thoughtful estate plan can provide security, clarity, and flexibility for years to come.
At Unique Estate Law, we work with couples in Minnesota to create personalized estate plans that reflect their values and honor their agreements. Whether you’re entering a first marriage, a second, or blending families, we can help you build a plan that works for both of you.
Contact us today to schedule a consultation and take the next step in protecting your future.