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Prenuptial agreements and sound estate planning

Given the aging population of both Texas and the United States as a whole, many have been wondering how to navigate their golden years. Finances are often a big concern, and many different legal issues involving money can push families to either work together or become involved in a dispute. One tool that can help families avoid money-related conflicts is a prenuptial agreement.

Since Americans are living longer, many will outlive their spouse and may choose to marry again later in life. At the same time, many older men and women realize their marriage may no longer be working and seek a divorce in their 50s, 60s or 70s and beyond. They, too, may choose to remarry. In any case, those who tie the knot at a more mature age may find their families are a bit hesitant to show support. When two people marry, the assets and wealth of the whole family may appear to be in jeopardy to those who may, in the future, inherit a portion of the family estate.

A prenuptial agreement can address this sensitive issue in a manner that is comprehensive and fair to all involved. Rather than "shutting out" the new spouse from family wealth, a prenup can address both spouses' need for asset protection. A prenup can safeguard savings, tangible property, real estate, items of sentimental value, heirlooms, investments and even the family pet. Since a prenup clearly delineates who gets what, the document allows all parties to breathe easier knowing the path community property will take in the event of divorce.

Moreover, by getting families to discuss these issues early on, a prenup can even help a family steer clear of discord related to confusion after a death or divorce. Those who wish to enter into a prenup should explore their legal options, to ensure their agreement is fair to all.

Source: AARP.org, "Do you need a prenup?" accessed Nov. 29, 2014

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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