Nolo Press Prenuptial Agreements

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Failing to provide pertinent information is as bad as providing false information, and it renders a premarital agreement unenforceable.

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Some reasons to set up a premarital agreement: pass separate property to children from prior marriages; clarify financial rights and responsibilities during marriage; and get protection from debts.

It is important to follow all the rules and prepare a prenuptial agreement properly to prevent it from later being challenged in court.

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Existing divorce law in the United States says the only way to end your marriage is for one party to file a lawsuit against the other. You are prepared to make full disclosure about your property and finances. ILIT becomes the legal owner of your policy.

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In either case, a trustee who understands what is required should be able to do the reports or to hire an accountant for the job.
Most common in divorce cases.

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