Prenup

A prenup can be considered part of a good asset protection plan, like a will or a power of attorney, and can spell out the distribution of assets acquired both before and during the marriage, such as the distribution of an individual inheritance or a retirement plan. Traditionally used when one spouse comes to the marriage with significantly more assets than the other, prenups are also used by people of more equal and/or modest means to outline financial rights and responsibilities during marriage, specify which assets will go to offspring from previous marriages, protect spouses from each other’s existing debts, preserve business assets, and other objectives.