Articles Tagged with premarital agreement

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Dear Carolyn,

My daughter is getting married next year.  We have family business and my daughter works in the business. Is a premarital agreement appropriate for her, even though she is only 25?  When should she bring this up with her fiancé?

Carolyn Answers…

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Now let’s change the hypothetical of our Greensboro couple – Petunia and Rocky – in one respect. Recall that Petunia’s parents wanted her to have a premarital agreement regarding Home Grown Lawn Care, but Petunia and Rocky did not sign one. Maybe a few years into her marriage, Petunia realizes that she wants to keep Home Grown Lawn Care in the family and that Rocky and her parents just do not get along. So Petunia executes a will, leaving her shares of Home Grown Lawn Care to her parents and the remainder of her estate to Rocky. Continue reading →

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By: Dana M. Horlick, Attorney, Woodruff Family Law Group

Now that we have the details and definitions out of the way, we can return to our Greensboro couple Rocky and Petunia and take a look at what happens to Petunia’s estate. Recall that Petunia died without a premarital agreement, without children, and without a will. Since Petunia died without a will, this means that she has died intestate, and her property will pass via intestacy, with Rocky as the administrator of her estate. Also recall that Petunia died with an interest in Home Grown Lawn Care worth $125,000.00 and a 401(k) worth $15,000.00, of which Rocky is the beneficiary. Also, Petunia died in a car accident five years into the marriage – this will be important later on. Continue reading →

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By: Dana M. Horlick, Attorney, Woodruff Family Law Group

Have you wondered how much of your estate is your spouse entitled? What happens to all of your assets when you die? Do you have much control over the disposition of your estate? Does having a will make a difference? To demonstrate the nuances involved in determining how much your surviving spouse is entitled to, I am going to set up a hypothetical, with a Greensboro couple – Rocky and Petunia. Continue reading →

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We previously discussed ways to protect gifted or inherited property from the claims of a child’s spouse, from the viewpoint of the parent making the transfers. It noted that the law already protects the amount of the gift or inheritance, plus any appreciation not caused by marital funds or efforts. Continue reading →

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The previous two posts on premarital agreements have addressed future spouses who are considering signing a premarital agreement. The final two posts in this series will address the future spouses’ parents.

In particular, this post is directed at parents who have worked hard enough, and been fortunate enough, to accumulate significant property. You desire, naturally enough, to leave that property to your children. But you do not want that property to pass to your children’s spouses. How can this goal be accomplished? Continue reading →

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A premarital agreement, of course, requires the consent of both future spouses. Sometimes future spouses will disagree about whether to sign a premarital agreement. The last post in this series considered this situation by addressing the spouse who wants an agreement. This post will consider the situation by addressing the spouse who does not want the agreement. Continue reading →

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The first few posts in this series discussed when prospective spouses should sign a premarital agreement. Simply stated, a premarital agreement should be signed when both parties want to apply different rules to divide their property and award support after the marriage than the law would otherwise provide. Continue reading →

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Previous posts regarding prenuptial agreements have discussed the validity of premarital agreements in very general terms, focusing on the broad concepts of procedural and substantive unfairness.  Procedural unfairness creates a very real risk that the agreement might not be enforced. Substantive unfairness is not so important, but it can create risk when the unfairness is extreme, or when the procedural fairness of the agreement is a close question. Continue reading →

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Previously, we highlighted the risks of asking a future spouse to sign a substantively unfair agreement. These risks are not triggered merely because the terms of the agreement are not exactly equal. Rather, substantive unfairness is present only when the agreement passes some minimum threshold of inequality. Continue reading →