Pre-marital planning, beyond the prenup.

By Tresp, Day & Associates · April 13, 2020

Bringing significant assets, a family business, or an expected inheritance into a marriage is common, and, without planning, those assets can become commingled and hard to untangle if the marriage ends. Thoughtful pre-marital planning keeps separate property separate.

The prenuptial agreement

A prenup is a contract that defines how assets and debts are treated in a divorce. Properly drafted, with full disclosure and independent counsel for each party, it’s the direct way to protect premarital and family assets and to set clear expectations.

The asset protection trust

Assets placed into a properly structured irrevocable asset protection trust before marriage are no longer individually owned, so they’re generally beyond the reach of a future divorce claim, and of creditors and lawsuits. This is useful for the assets hardest to negotiate over, like a family business or inheritance, and can reduce what a prenup must cover.

Approach it as protection, not distrust

Framed well, pre-marital planning is simply prudent, protecting family wealth and setting clear expectations benefits both partners. Tresp, Day & Associates helps couples plan thoughtfully before they marry.