Prenuptial Agreement

A surprisingly common misunderstanding is that spouses own everything jointly. This misconception arises from the fact that, if both spouses have marital rights to each other’s property, the wealthier spouse must, upon separation, transfer assets to the other so that both end up with an equal amount. This situation can be changed in advance by drafting a properly prepared prenuptial agreement.

A marital right exclusion clause included in a will or deed of gift ensures that the beneficiary’s spouse does not obtain marital rights to the inherited or gifted property.