Excerpt:
Marriage inevitably comes to an end, for some couples as a result of death and for a substantial number of others as a result of dissolution.
Both endpoints have implications for the preservation of family wealth. The impact of the end of a marriage on family wealth will depend in part on the planning engaged in by the couple and in part on the laws of the jurisdictions with an interest in the marriage and the marital property. A good deal of attention is paid to ensuring that a prenuptial agreement (prenup) is in place before marriage; however, often too little attention is paid to whether the prenup addresses family assets that may be outside of the jurisdiction where the parties intend to reside and how trusts may be implicated when a couple's marriage comes to an end. Even less attention is paid to whether an existing prenup will continue to provide the intended protection if the couple moves to another jurisdiction during their marriage.
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Originally published by WealthManagement.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.