While your prenuptial agreement may be in place to protect both parties in the event of a marriage breakdown, it can have serious repercussions on how your property is treated after your death. In this article, the Wills & Estate team at Hentys Lawyers explains how a prenutial agreement can affect your will. If Robert drafts a marriage contract, he could list the property he bought before meeting Barbara as separated. This would allow him to allocate this property to whomever he wants, including his children. Barbara would have no right unless he wanted to keep his specific assets in his will. When planning your estate, consider the existence of a marriage contract. To avoid costly litigation in the future, the parties can resolve any disagreement with the prenup by using appropriate language to clarify which document takes precedence. A marriage contract can be used to divide the estate if a spouse dies intestate, i.e. without a will or estate plan, or if a will has subsequently been declared invalid. As a general rule, the probate court applies state law to decide who receives property left by an intestate person. However, since the agreement is a contract entered into during the lifetime of the deceased person and relates to that person`s property, the court may use the agreement to distribute the property.
In this situation, the agreement can transfer the law of the state, even if a will could not. A will indicates the wishes of a deceased person for his estate after his death. The last will identifies the property of the deceased person or testator and all beneficiaries who receive assets after the death of the testator. When the testator dies, the estate enters the homologation procedure, the judicial procedure associated with the verification of the validity of the will, the hearing of claims against the succession and the division and distribution of the testator`s property. If you`re getting married, it`s very helpful to have a prenutial agreement – even if you don`t have much wealth. You can contact a family lawyer or consult an online service provider for assistance in drafting a prenuptial agreement. In addition, marriage contracts identify prenomiial property. This could include the size of the stock portfolio at the time of marriage, the valuation of the family business, the assets with which each spouse contracted the marriage, etc. Without a marriage contract, it can be difficult to replenish what property was before the marriage and what property was acquired after the marriage.
Even if the spouse does not renounce his or her elective share of the marriage contract, this document can help in the division of other property after the death of a spouse. .