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Prenuptial agreements, estate planning and high-asset divorce

For Colorado families who have been successful in amassing a high degree of wealth, protecting those assets from loss is often a top priority. That includes managing money in a way that reduces tax obligations while promoting steady growth, and protecting against loss due to litigation. When it comes to legal losses, few things can be more damaging to one's bottom line than a high\-asset divorce. That is why many families take an aggressive stance toward making sure that inherited wealth stays where it was intended.

One way to accomplish that goal is to include a prenuptial agreement as a condition of an inheritance. While that may seem like a controlling and invasive move, it is easy to understand how parents and grandparents may view the matter. Statistics show that as many as half of marriages end up in divorce. Absent a prenuptial agreement or other careful financial planning options, close to half of an individual's wealth can be lost during a divorce. That is simply an unacceptable outcome to many families.

A prenup as a condition of inheritance is not intended as a statement on the family's opinion of the newest member. It is simply a precautionary measure; in fact, a savvy financial move. If all is well in the marriage, then both spouses are able to enjoy the benefits of inherited wealth. However, if the union should end after a brief period of time, or based on an act of infidelity on the part of the non-moneyed spouse, then the provisions laid out in the prenup could be viewed as a welcome relief.

Colorado residents who are interested in learning more should schedule an appointment to sit down with a family law attorney to discuss the matter in depth. Combining estate planning and high-asset divorce protection is not uncommon, and is an option worth considering. As with so many financial decisions, being fully informed is a great way to reach a favorable outcome.

Source: wealthmanagement.com, "Seven Tips For Managing Sibling Wealth Disparity", Doug Baumoel and Blair Trippe, June 29, 2017

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