Estate planning with a prenuptial agreement
Prenuptial agreements can be used to help couples in many unique ways from estate planning to reputation preservation.
The time for a couple to think about a prenuptial agreement is when they are dating and first beginning to consider spending a life together. Connecticut residents should take the time to explore how prenuptial agreements have changed over the years and the new reasons to enter into them.
Estate planning, for example, can be facilitated with a prenup, especially for people getting married after a prior marriage in which children resulted. Protection of assets in the event of a divorce is still possible with a prenuptial agreement but assets are not the only things in jeopardy after a marriage ends. Spouses’ reputations can be on the line when one person takes to social media. Prenups can help in these situations as well.
Estate planning with marital contracts
When two people who are getting married have children from prior marriages or relationships, estate planning takes on a new twist. It is logical for each parent to wish to make sure that certain assets remain with their biological children after the parent’s death.
According to USA Today, wills and trusts can help but a prenuptial agreement offers a unique way to solidify such agreements and enhance other estate planning activities. This can be the case even if only one person in a relationship has children from a previous marriage.
Saving reputations in the online world
The temptation to make a negative online post about a former spouse online can be great for some people. When that temptation is given into, many losses can be experienced, especially as social media has the power to reach a large number of people in a very short period of time.
Fox News explains that guarding against this is the goal of social media clauses in prenuptial agreements. These clauses outline what is off limits in terms of social posts for couples if they later divorce. ABC News adds that serious financial penalties can be incurred by people who do not abide by the terms of these clauses. As an example, one inappropriate post can lead to a fine of $50,000 in some cases.
Prenups can help-when crafted legally
As noted by Today, the manner in which a prenuptial agreement is created can determine whether or not it is legally valid and can be enforced if and when needed. Working with experienced attorneys-one for each spouse-is an important part of making sure this happens.