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Trust Account or prenuptial agreement to safeguard previous assets
#1
Crisner195 
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I am widowed, preparing for a second marriage. I have all assets from a previous marriage in a trust account in my name only. When I get married again, is a trust account good enough to safeguard all my assets? Or, do I need a prenuptial agreement?[]
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#2
M. Giordano
- PA Attorney
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- Group: Moderators of any forum
- Posts: 54
- Gender:Male
There are many types of trust accounts. What type of trust account do you have?
Michael C. Giordano, Attorney in Mechanicsburg, PA
Disclaimer: Answers are not legal advice and is never a substitute for professional advice from an attorney licensed in your jurisdiction and retained to represent you.
Disclaimer: Answers are not legal advice and is never a substitute for professional advice from an attorney licensed in your jurisdiction and retained to represent you.
#4
M. Giordano
- PA Attorney
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- Group: Moderators of any forum
- Posts: 54
- Gender:Male
A living trust is generally set up as an alternative to or supplement to a will. This instrument has a different function than a Premarital agreement. The living trust will only become operative (passing assets to beneficiaries) upon your death whereas a prenup generally covers asset distribution in the event of a divorce also. Please speak to a local attorney who specializes in marital law and trusts and estates law who can help you in drafting the right combination of documents to adequately protect your assets before you remarry.
Michael C. Giordano, Attorney in Mechanicsburg, PA
Disclaimer: Answers are not legal advice and is never a substitute for professional advice from an attorney licensed in your jurisdiction and retained to represent you.
Disclaimer: Answers are not legal advice and is never a substitute for professional advice from an attorney licensed in your jurisdiction and retained to represent you.
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