Prenuptial Agreements and Estate Planning
July 20, 2014
Just a few short decades ago, prenuptial agreements were all but unheard of. They weren’t for ordinary people, but rather for rich famous couples who were unlikely to last anyway.
Nowadays, however, they have become more commonplace, and for valid reasons. Whether both individuals are well-enough off that they just want to avoid financial entanglement, or there’s an inherited family business in the picture, there are more than a few cases in which finances would be kept out of the marriage picture entirely.
One of the things that often gets overlooked about prenuptial agreements is how they tie in with estate planning. If you find yourself facing estate planning and are stressed about an existing prenuptial agreement, do not worry.
The whole point of a prenuptial agreement is to prevent your money being taken from you against your will. The entire point of an estate planning is to give your money out to friends and loved ones according to your will.
The two can co-exist peacefully.
For the most part, prenuptial agreements will not impact your estate plan in any way, although there are always rare circumstances that arise.
You should always discuss any concerns you have with an experienced estate planning attorney, but an easy way to remember this is that prenups stop others from forcibly taking your money, but you can still give it out however you want.