Prenup Trust Plan
Your planning to get married soon!
Many thoughts are running through your mind getting ready for the big day. One nagging question that might arise is what if I need a plan B exit. How do I proceed – a prenup agreement?
During marital bliss moments it can be difficult to sort out contingent exit plan. How do you get married and remain financially safe. The standard method is to for both finances to disclose all with an attorney to write up a prenup agreement, the divorce plan.
Some find this task all okay. Others find it distasteful. It can be a sensitive topic.
First you need to have ‘that’ conversation with your finance. This is often the most difficult part of the process. Others are quite comfortable having this conversation about money, assets, and credit.
Secondly, both finances list a full inventory of their assets and liabilities. These are given to the attorney who will draft up the contract. You and your finance discuss what is our divorce plan. You recognize that a fair percentage of marriages end up in divorce.
Third is that both parties need to be aware that a prenup agreement can be contested in court. No matter how strong or clear the agreement, either spouse can hire an attorney who will challenge it on some basis.
Your Quiet Alternative – Prenup Trust
This trust allows you to avoid everything involved with a prenup agreement. This is because you transfer assets from your personal name to a trust you control. You never need to disclose they exist. They are never part of community property.
Imagine the relief of knowing you avoided this assets & liabilities questionnaire with your finance. However, it remains wise to discuss credit scores and approach to money with each other.
A prenup trust also eliminates any potential ‘step-parent’ interference with children. If you have a college education fund or medical expenses they remain under your control. You don’t need any more family conflicts. Keep it clean, use a prenup trust to carry out your plans without interference.
This trust also keeps your sole property separate from joint property. It keeps these assets safe from any misfortune or future liability of your spouse. Preplanning asset safety before marriage is actually smart for both you and your spouse.
Some people might consider using a corporation or LLC in lieu of a prenup agreement. You could do this, but it’s listed online. It also has annual fees, taxes, and reporting requirements by the secretary of state. Your ownership interest could still be at risk from litigation.
Your prenup trust is unlisted and private. It’s never public or online. There are no fees, taxes or reporting requirements. Nobody knows about it except you.