Prenuptial agreements often carry a certain stigma and several misconceptions, but the truth is good prenups are necessary for wealthy individuals and those that have been divorced before. Prenups are like risk tolerance tools, guarding against any potential eventuality and preventing estate battles if a spouse dies during a marriage. Specifically, in the event of a spouse’s death, prenups can help preserve inheritances of children, especially when the other spouse remarries. Following the correct procedures for ensuring a solid prenup can help high net worth clients reach a more positive outcome in the event of divorce or death.
See Jeffrey A. Weissman, Seven Steps to Building a Better Prenup, Wealth Management, May 11, 2017.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
