Do I Need a Prenup?
August 18, 2024 – Kimberly Hegwood

A recent Business Insider’s article, “Ask a Financial Planner: ‘What should I include in a prenup?’,”says that the first thing to do is decide if you’ll need a prenuptial agreement, also known as a “prenup.” Do this by asking yourself, “What purpose do I want the prenup to serve?” If the document is intended to protect the assets you’re bringing into the marriage—such as a business, big-time investments, or rental property—speak to an estate planning attorney about the benefits of a prenup.
Other folks who will have prenups drafted are those who marry later in life and have acquired assets on their own and/or were married before. They want to be clear on how their assets would be divided if there were a divorce. This is especially important with blended families.
A prenup can simplify a divorce and lessen conflicts. The spouses understand how property and assets would be divided in a divorce. Divorce can be sticky, especially when there are significant assets involved. If that’s the case, you need to talk with a qualified estate planning attorney to draft a prenuptial agreement. While you’re at it, put all other estate planning documents in place, like a will, trusts, powers of attorney, and health care directives.
The basic issues to address in a prenup include:
A description of separate property versus marital property;
- How to distribute debts;
- How taxes would be treated;
- Spousal support; and
- Who will pay for legal fees
One thing to note is that estate planning laws can be different in each state. Make certain that you talk with a qualified estate planning attorney.
Reference: Business Insider (April 17, 2016) “Ask A Financial Planner: ‘What should I include in a prenup?‘”
#AssetProtection #Will #PrenuptialAgreement #PowersofAttorney #HealthCareDirectives #Trusts #estateplanning
Ask a Question, Describe Your Situation,
& Request a Strategy Session
Contact Us, & We’ll Guide You Through Your Next Steps!
Required Fields*
Your Information Is Safe With Us
We respect your privacy. The information you provide will be used to answer your question or to schedule an appointment if requested.
Related Blog Posts

Kimberly Hegwood
Estate and Gift Tax Rate Hikes: What Does This Mean for You?
Earlier in the year, Senator Bernie Sanders proposed new legislation…

Kimberly Hegwood
A Few Words of Advice for Getting Married in Your Golden Years
If you’re in your senior years, you may want to…

Kimberly Hegwood
Making Your Wealth Last for Generations
You’ve worked hard for many years to build a successful…