Tuesday, February 23, 2010

Prenuptual agreement(!) in MN

Question:
(Taken from several personal conversations)

Dear Rev. Coleman,

This is kind of a random question, but we're getting married (this is our second marriage), and we were thinking of getting a prenuptial agreement, but was wondering how much it would cost, and where we could go to get one?

Careful in Minnesota


Answer:

Dear CIM,

Those are great questions! Talking with Cragg Law in St Paul, MN, he quoted $995 for most prenuptial agreements, and for peace of mind, of nothing else, it can be a great idea. With the minimum cost of a divorce being $4,000, if one can think of a prenuptial agreement more like insurance, then it seems like a well-reasoned and well-thought out contingency plan - especially if it's a second wedding and assets are a bit complicated.  Two complications from Cragg Law's page on prenuptial agreements that a prenup can help with:
  • Ensuring that children from a previous relationship receive all or a substantial portion of their parent's estate
  • Limiting ownership in a closely-held business

I hope this helps!

Warm regards,

Rev. Tomkin Coleman
Minnesota Weddings with Rev. Coleman

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