• 21
  • February
    2012

It is exactly one week since Valentine's Day, and exactly one week since an estimated four million people said "yes" when the one they love got down on one knee and popped the question. The initial flurry of excitement is over, and now the real planning begins.

As the newly engaged create their wedding day checklists, there are some things they should consider in terms of estate planning. We are not talking about what flowers will go on the grand estate where guests will watch them say "I do." We are talking about their future as a married couple with combined finances, assets and liabilities.

Marriage will always end, whether in divorce or death. Considering the possible end of a marriage is an important thing to think about. Prenuptial agreements are one to-do that should be added to the list. Despite the bad rap for generally being a tool of divorce, a prenup has some estate planning benefits.

During probate, although you have set out your exact wishes onto paper through use of a will, there are often those who will object. Have you ever disagreed with one of your parents' decisions? One way to give extra assurance that your wishes will defeat a will contest is to make sure that your intent is clear. Prenuptial agreements are one way to establish necessary intent.

Discuss your estate planning options with an experienced attorney. Express your goals for the future; five years from now, 10 years from now or even after you are gone. Addressing questions, thoughts and concerns early in the process helps in developing a solid estate plan.

Source: Reuters, "When Valentines and prenups go together," Kathleen Kingsbury, Feb. 15, 2012