Trust Account or prenuptial agreement to safeguard previous assets

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Trust Account or prenuptial agreement to safeguard previous assets

Crisner195
New User

Post #1 of 4 (5761 views)

Trust Account or prenuptial agreement to safeguard previous assets

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? Smile

(This post was edited by Legal on Jun 9, 2005, 7:41 AM)

Legal
GettingRemarried.com Legal Advisor

Post #2 of 4 (5745 views)

Re: [Crisner195] Trust Account or prenuptial agreement to safeguard previous assets [In reply to]

There are many types of trust accounts. What type of trust account do you have?
M. Giordano
Legal Advisor

Crisner195
New User

Post #3 of 4 (5742 views)

Re: [Legal] Trust Account or prenuptial agreement to safeguard previous assets [In reply to]

I have a Living Trust

Legal
GettingRemarried.com Legal Advisor

Post #4 of 4 (5727 views)

Re: [Crisner195] Trust Account or prenuptial agreement to safeguard previous assets [In reply to]

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.
M. Giordano
Legal Advisor