Prenuptial agreements are an important part of any estate plan for two primary reasons; it protects you in the event the marriage ends, and it protects your estate in the event you pass away.
If you have been divorced, or even if this is your first marriage but you have accumulated assets, a prenup is an important tool to establish who those assets belong to should your marriage end. Business assets are typically an important concern here, to ensure that if a divorce takes place, your ex-spouse does not gain partial ownership of any business assets you may own or operate.
They are equally important though to your overall estate plan. Many second marriages are with the anticipation that their current estate plan shall remain in effect. And this is simply not the case unless an agreement is reached stating that in death, the assets continue to go as you have designated them, and not to a spouse. This is quite common for second marriages or late in life marriages where each partner has assets that they intend to remain with their family and pass to their children. To guarantee this, we cannot leave the estate documents as they are, they must mention that you are now married and intend to disinherit a spouse, and a prenuptial agreement is where your spouse agrees that they have no interest in your assets. Without that document, your new spouse can claim some of your assets in death as a forgotten spouse. So regardless of divorce, a prenup is a useful estate planning tool to complete the remainder of your estate planning documents.
Our office does not handle divorce cases. But we can refer you to an attorney. Please contact our office for a list of attorneys in your area.
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