When people with children from previous marriages decide to
wed, special issues arise when considering inheritance. Parents are concerned that the rights of
their children be protected, and pre-nuptial agreements can be the vehicle
through which those inheritance rights are protected.
What is a prenuptial agreement? Basically, it is just a
contract which goes into effect at the time of the marriage. The agreement
should be executed well in advance of the actual wedding, and should include
details about spousal support and/or the distribution of assets should there be
a death or divorce.
The key value of having a prenuptial agreement is that the
rights to support and inheritance are respected according to the agreed upon
requirements in the event of divorce or death. The agreement is able to protect
children from the previous marriage and also to protect any separate assets
which were brought into the new relationship or earned during it.
In addition, owners of businesses can protect their business
from coming under the control of an estranged ex-spouse. People who are the recipients
of inherited wealth frequently want to protect those assets to remain in the
family for their heirs.
