Prenuptial Agreements and Estate Planning
“Can a prenuptial agreement assist in my estate planning?”
A prenuptial agreement can help protect your assets in the event of a divorce, spelling out the terms of spousal support or property division in advance. Most couples think of prenuptial agreements as morbid to think about – after all, no one anticipates wanting or needing a divorce. But now more than ever, prenuptial agreements are being used as part of the process of prudent estate building.
This type of agreement is especially useful if either of the soon-to-be spouses have children from an earlier marriage or relationship. In many cases, prenuptial agreements protect the inheritance rights of children born outside of the current marriage.
“How will this effect my estate planning?”
If you are entering into a marriage where you are interested in this type of protection, whether for your children or otherwise, a prenuptial agreement will need to be carefully coordinated with the creation of any trust or wills drawn up in your current marriage.
In many cases, couples will choose to plan for a tradeoff. For example, a spouse could give up their right to an inheritance from the other’s estate in exchange for something of similar value, like being named the beneficiary of a life insurance policy.
The areas where prenuptial agreements and your will and estate intersect are complicated matters of marital, tax, and probate law. Talk to your family law attorney at Schulz Stephenson Law in Carteret County to begin planning today.
Schulz Stephenson Law represents clients regarding Family Law, Domestic, and Divorce matters in Carteret County, NC including Beaufort, Morehead City, Atlantic Beach, Cape Carteret, and Emerald Isle as well as New Bern and other areas in Craven County, Pamlico County and surrounding areas. Contact us today for a consultation so we can discuss the next steps in your family law matter.