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AL Estate Planning & Elder Law Blog

Tuesday, August 17, 2021

The Importance Of Incorporating A Prenuptial Agreement Into Your Estate Plan

A prenuptial agreement is an agreement entered into between future spouses regarding ownership and distribution of their present and future assets. Have you thought of a prenuptial agreement as a plan for divorcing even before the marriage takes place? A prenuptial agreement, however, can be a very important legal tool for couples in certain situations, including in the context of estate planning.  

A prenuptial agreement does not just set forth how assets will be distributed upon divorce, it may also address the distribution of assets upon a spouse’s death. Such an agreement may be very useful in helping to ensure that premarital wealth is distributed in accordance with your wishes.  For example, if you have children from a prior marriage, a prenuptial agreement can outline what portion of your estate you would like to go to those children, and what portion will go to your spouse.  If you do not have a prenuptial agreement to that effect, your spouse may be able to disregard your wishes and prevent your children from your prior marriage from inheriting the portion that you wanted them to inherit.  

A prenuptial agreement can also allow the couple to clearly identify what property they intend to keep as separate property, and what property will become marital property when they marry.  This can be particularly useful if one or both parties brings significant assets to the marriage or expects a substantial inheritance.

A prenuptial agreement can be a very useful agreement to have in place for many couples. For more information and assistance in developing a strong estate plan that includes a prenuptial agreement, please reach out to our office to schedule an appointment.

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