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Prenups: They’re Not Just for Divorce
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sk most people what a premarital agreement (commonly known as a “prenup”) and death have in common, and they’ll likely tell you that a prenup governs the division of assets at the death of a marriage. While this is true, what many do not realize is that a premarital agreement can also ensure that at your death, your assets can be left to the loved ones you choose. Isn’t that what a will does?
spouse’s estate at death, thereby allowing each of them to ensure that their assets go to their intended beneficiaries. For those who do wish to leave assets to their spouse, the agreement can also permit each spouse to make gifts to one another in their wills. Even if there is no concern that the marriage will end in divorce, a well written premarital agreement can nevertheless give each spouse the peace of mind of knowing that their estate planning goals will be carried out as smoothly as possible.
Yes, but (there is always a “but”) if you are remarrying and have children from a previous marriage, a premarital agreement may be a critical part of your estate plan. In North Carolina, a married person’s spouse has the right, by law, to claim a share of their deceased spouse’s estate, even if that person’s will says otherwise. For many older adults entering into a second marriage, each of them will likely bring their own assets to the marriage (assets they acquired well in advance) and wish to leave those assets to their own children. A premarital agreement allows each spouse to designate those assets that will be treated as their separate property in the event of a divorce and also waives each spouse’s right to claim or force a share of the other
Amy Shue Isaacs Attorney The McIntosh Law Firm, P.C. www.mcintoshlawfirm.com
What is Your Strategy for Health Care During Your Retirement? Unfortunately, I see a lot of attention given only to managing investments when I look at the advertising that is placed to acquire new clients by firms like mine. What I don’t see is very much mention of health care in retirement and what that looks like. Do you know much about Medicare? Are you familiar with the various options that exist and what that will mean for you? How about any long-term health care needs? Please don’t turn a blind eye to it and hope for the best.
David R. Hedges, CWS®, BS Finance
Bookman Bright, Inc. is a Registered Investment Advisor
Go to bookmanbright.com/healthcarestrategies to learn more.
209 Delburg Street | Suite 205 | Davidson, NC 28036 704.256.6016 | David@bookmanbright.com www.LNCurrents.com | DECEMBER 2022
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