Spousal Lifetime Access Trusts can Protect Your Partner

November 18, 2025

For couples with significant assets, planning for the future is necessary to ensure financial security for the surviving spouse while minimizing tax exposure. Spousal Lifetime Access Trusts can protect your partner when you are gone. Often called a SLAT, it offers an effective way to achieve both goals. Combining long-term protection with ongoing access to funds helps preserve family wealth while maintaining flexibility.

Understanding Spousal Lifetime Access Trusts

A Spousal Lifetime Access Trust is an irrevocable trust created by one spouse for the benefit of the other. The grantor transfers assets, such as investments, real estate, or business interests, into the trust, thereby removing them from their taxable estate. The non-grantor spouse can then receive income or distributions from the trust during their lifetime.

This arrangement provides a balance between tax efficiency and practical access. It allows couples to reduce the size of their taxable estate while keeping resources available should unexpected expenses or financial changes arise.

How SLATs Protect Wealth

One of the main advantages of an SLAT is its ability to shield assets from future estate taxes. With current federal exemption limits set at historically high levels, couples can transfer substantial wealth now and lock in those benefits before potential tax law changes reduce the threshold.

The trust also serves as a form of asset protection. Once transferred, the assets generally cannot be reached by the grantor’s or the beneficiary’s creditors. This makes SLATs appealing to business owners and high-net-worth families seeking long-term security.

In many cases, the trust can also distribute income to the beneficiary spouse, ensuring that the family continues to benefit from the assets even though they are no longer part of the grantor’s estate.

Key Structural Considerations

While powerful, SLATs require careful design. Because they are irrevocable, the grantor cannot reclaim the assets after transferring them. Couples must ensure that they retain sufficient liquidity and income outside the trust to maintain their standard of living.

If both spouses create SLATs for each other, the trusts must differ meaningfully to avoid triggering the “reciprocal trust doctrine.” This IRS rule can invalidate tax benefits if two trusts are too similar, effectively treating each spouse as if they never transferred the assets in the first place.

Working with an experienced estate planning attorney helps ensure that each trust is structured uniquely using different funding sources, timing, or distribution terms to comply with IRS standards.

When to Consider a SLAT

A Spousal Lifetime Access Trust is particularly beneficial for couples with taxable estates who want to take advantage of the current high federal estate tax exemptions, which are set to increase from $13.99 million per person to $15 million for 2026. It’s also ideal for individuals who wish to preserve family wealth without cutting off financial flexibility for their spouse.

In addition, SLATs can complement other estate planning tools, such as irrevocable life insurance trusts or charitable trusts. By layering strategies, couples can maximize protection and tailor distributions to meet both personal and philanthropic goals.

Balancing Flexibility and Finality

Because SLATs are permanent, they require both foresight and discipline. Once assets move into the trust, they are beyond the grantor’s reach. However, that finality is what gives them their power. The trust ensures that estate taxes, legal claims, or financial mismanagement will not erode assets.

Spousal Lifetime Access Trusts can protect your partner when you are gone. Couples who thoughtfully design SLATs often find peace of mind knowing that their partner will be cared for, no matter what happens. If you would like to learn more about SLATS, please visit our previous posts.

Reference: Forbes (Sep. 30, 2025) “Spousal Lifetime Access Trusts: A Strategic Estate Planning Tool”

Portability Doesn’t Happen Automatically

November 13, 2025

Portability allows a surviving spouse to use any “leftover” estate tax exclusion from the first spouse to die. It’s a powerful estate planning technique, according to a recent article in Think Advisor, “This Estate Tax Filing Mistake Can Cost Clients Millions.” However, portability doesn’t happen automatically.

To secure portability, the executor of the first deceased spouse’s estate must file a Form 706—known as an estate tax return—to elect portability, and it must be filed in a timely manner and be properly prepared.

This is necessary even if no estate tax is otherwise due from the deceased spouse’s estate. Given the high federal estate tax exemption, most affluent couples nearing the threshold don’t need to file the form. However, it’s still worth filling it out. Here’s why.

A husband who dies with $5 million in assets passes that along to his wife, who may have $10 million of her own. If she lives another 20 years and is invested in markets, her wealth upon her death could be very close to or over the maximum estate tax exemption for a single person. If she secures portability at the time of her husband’s death, she can use his remaining estate tax exemption amount and avoid significant estate tax when passing wealth onto her heirs.

Even if the first spouse to pass doesn’t come close to the federal estate tax threshold, it still makes sense to take the right steps to secure portability. A recent Tax Court case illustrates how this can go wrong if not done correctly. A successful midwestern business owner died, and the form wasn’t filled out correctly. The filing mistake cost heirs an additional $1.5 million in estate taxes from the surviving spouse’s estate.

The deadline to elect portability of a deceased spouse’s unused federal estate tax exemption is nine months after the date of death. While your estate planning attorney can request a six-month extension, it’s best to do this in a timely manner. If the estate isn’t otherwise required to file an estate tax return, you can use the Revenue Procedure 2022-32. This was added after many estates failed to file for portability because they didn’t realize it was needed until after the federal estate tax return was due.

This process is not easy and involves several important steps, especially if any of the first-to-die spouse’s assets flow to anyone other than the surviving spouse or a charity. In these situations, assets flowing out of the first estate must be assigned a fair market value using a valuation professional.

The IRS provides a valuation method for estates filing solely to capture portability. An executor may use a good-faith estimate of the value. However, securing a professional valuation may be recommended by your estate planning attorney.

The Tax Court case referred to above illustrates how this process can go wrong. The assets passed down by the first spouse to die went to other family members, not her spouse or a charity. A proper valuation was not done. The executor also applied for an automatic extension to file Form 706 but failed to mail the return until five months after the extended deadline. There are some instances when the IRS provides a “safe harbor” for late filing. However, this only applies when the value of the first deceased spouse’s estate is less than the applicable exclusion amount. The return was not complete, nor was it properly prepared.

Portability is a beneficial option and shouldn’t be missed, even when it seems unlikely to be needed. Just remember – portability doesn’t happen automatically. An experienced estate planning attorney should be consulted to protect the estate upon the death of the first spouse to secure portability. If you would like to learn more about portability and estate planning, please visit our previous posts.

Reference: Think Advisor (October 15, 2025) “This Estate Tax Filing Mistake Can Cost Clients Millions”

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Protect Your Child’s Inheritance in a Second Marriage

September 24, 2025

Having a revocable trust may or may not protect assets for biological children on the death of their parent if the parent has remarried. This is why a recent article from the New Hampshire Union Leader, “Know the Law: Ensuring Assets go where you want in your revocable trust,” advises readers to speak with an experienced estate planning attorney about how to protect your child’s inheritance in a second marriage.

Surviving spouses in many states are permitted to claim an elective share of their deceased spouse’s estate to avoid being disinherited or being inadequately provided for when the spouse dies. If the decedent has children, the surviving spouse is entitled in some states to one-third of the probate estate. In some states, revocable trust assets are not automatically included as part of the decedent’s probate estate.

If there are assets in a revocable trust for children, they may be protected if the surviving spouse waives testate distribution and decides they’d rather claim the statutory elective share. Under certain circumstances, the surviving spouse could ask the court to set aside transfers of assets made into the revocable trust. If the court determines the transfers were invalid, then the revocable trust will become part of the probate estate and part of the elective share calculation.

In some states, the scope of the statutory elective share automatically includes assets in revocable trusts. Suppose someone moves from a state where this is not the case to a home in a state where revocable trust assets are considered part of the probate estate for elective share purposes and the estate is probated in the new state. In that case, that portion of the revocable trust assets will be available to the surviving spouse.

If the revocable trust isn’t fully funded and the assets intended to go into the trust remain in the spouse’s name, such as bank accounts and real estate, those assets will also be part of the probate estate.

Depending upon the plan rules and state laws, surviving spouses may also automatically be the beneficiary of any qualified retirement accounts, like 401(k)s or 403(b)s. Unless the spouse waives their right to the survivor benefits, they are, in most cases, the only person who will receive the pension assets.

Concerns about not disinheriting children from a prior marriage are often addressed through estate planning. However, a pre-nuptial agreement could also define what each spouse would be entitled to in the event of a divorce or when each spouse dies.

A consultation with an estate planning attorney in your state should take place to protect your child’s inheritance in a second marriage. It’s best to address the issues before walking down the aisle to prevent any misunderstandings in the future and start a new marriage with a clean slate. If you would like to learn more about remarriage protection, please visit our previous posts.

Reference: New Hampshire Union Leader (Aug. 18, 2025) “Know the Law: Ensuring Assets go where you want in your revocable trust”

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How Wealth is Distributed in Blended Families

September 2, 2025

This summer’s passing of Ozzy Osbourne was mourned by heavy metal fans. Whether you liked his music or not, Osbourne left an estate estimated to be worth $230 million plus future royalties, reports a recent article from Think Advisor, “What Wealthy Families Can Learn From a Rock Star’s Estate.” It caught the attention of estate planning attorneys for lessons about how wealth is distributed in blended families. Whether you liked his music or not, Osbourne left an estate estimated to be worth $230 million plus future royalties, reports a recent article from Think Advisor, “What Wealthy Families Can Learn From a Rock Star’s Estate.”

There’s no estate battle for now. However, only time will tell if the Osbourne family faces issues like those of many blended families. There’s no simple playbook for these situations, and the best outcomes require the counsel of an experienced estate planning attorney and savvy planning.

Creating trust structures to balance a surviving spouse’s financial well-being with inheritances for children from prior marriages takes knowledge and experience. A plan needs to be proactively created and regularly revisited to affirm the choices made. The challenge is anticipating potential disputes.

An ill-conceived plan would be to place all the assets in a single trust to benefit the surviving spouse during their lifetime and then have the assets flow to the biological children after their death. This sounds like a good solution. However, the arrangement puts the surviving spouse’s interests at odds with those of the children. They’re waiting for the surviving spouse to die for their inheritance and have no control over how much money is spent. They might end up with nothing, despite the best intentions of the deceased spouse.

Another solution with potential for disaster is creating an estate for the benefit of the surviving spouse and putting one or more of the biological children in charge of the estate in an attempt to balance the structure. The surviving spouse is now dependent upon the biological children to ask for money, which can create more problems than it solves.

A controlling trustee is often considered a potential solution for blended family estate plans. If the surviving spouse is intent on blowing through the money, the children can go to court and file a lawsuit to ensure that their rights and interests are protected. However, litigation is expensive and divisive.

A better idea might be to leave the house and a portion of the liquid estate to the surviving spouse, while leaving the rest of the estate to the children. The goal is to prevent tension between family members over access and control of assets.

An estate plan for a blended family requires effective communication, thorough planning and a delicate balance to protect the interests of all parties. It’s not easy. An experienced estate planning attorney can help you understand how wealth is distributed in blended families to ensure that it remains effective over time. The result of a blended family remaining a family after one of the spouses has passed can be more of a legacy than wealth. If you would like to learn more about planning for blended families, please visit our previous posts.

Reference: Think Advisor (Aug. 11, 2025) “What Wealthy Families Can Learn From a Rock Star’s Estate”

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Secure Your Spouse’s access to Quality Care

August 14, 2025

When a spouse requires nursing home care, many families feel overwhelmed by the sudden medical needs, the high cost of care and the fear of losing their savings. However, with timely legal planning, you can secure your spouse’s access to quality care, while preserving your financial stability and your family’s home.

Understanding Medicaid Eligibility

Nursing home care often exceeds $90,000 per year, making Medicaid an essential resource for many couples. However, strict income and asset limits make eligibility feel out of reach for some. Medicaid’s spousal impoverishment rules help by allowing the “community spouse” (the spouse remaining at home) to retain a portion of the couple’s income and assets, while the spouse needing care qualifies for Medicaid.

Assets are divided into countable and exempt categories. Exempt assets often include the primary residence, one vehicle and personal belongings. Countable assets include checking, savings and investment accounts. Understanding how your state defines and limits these categories is crucial for effective planning and decision-making.

Why Legal Planning Is Essential for Medicaid Eligibility

Applying for Medicaid without legal guidance can result in mistakes that cause delays or penalties, especially if assets were transferred within Medicaid’s look-back period. An elder care lawyer can help you:

Spend down assets legally on exempt items, such as home repairs or a reliable vehicle.
Establish Medicaid Asset Protection Trusts to preserve assets while planning for eligibility.
Explore spousal refusal in states where this strategy can protect additional resources.

Legal planning also includes preparing powers of attorney and healthcare proxies, so your spouse or another trusted person can manage your affairs if you become incapacitated.

Preparing Emotionally and Practically for the Transition to Nursing Care

Moving a spouse into a nursing home is emotionally challenging. Visiting facilities ahead of time, discussing expectations and reviewing care options can help ease the transition. It’s equally important for caregivers to seek emotional support through counseling or community resources to manage stress.

You should also review your overall estate plan to ensure that it aligns with your family’s needs, protects your spouse’s quality of life and secures your legacy for your loved ones. Secure your spouse’s access to quality care by working with a qualified and experiences attorney. If you would like to learn more about Medicaid planning and long term care, please visit our previous posts.

Reference: Medicaid Planning Assistance (May 06, 2025) “Getting an Aging Parent, Spouse or other Loved One into Medicaid Nursing Home”

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Moving to Another State can Impact Your Will

July 29, 2025

Relocating to a new state often prompts a fresh look at housing, healthcare and taxes. However, many people overlook revisiting their estate plan. A will drafted in one state doesn’t necessarily become void elsewhere. However, differences in state laws can create complications if it isn’t updated. To ensure that your wishes are carried out as intended, it’s important to understand how moving to another state can impact the validity and execution of your will.

Your Will May Still Be Valid—But That’s Not Enough

Most states honor wills created legally in another state. However, just because a will is valid doesn’t mean it’s well-suited to your new residence. Probate laws, witness requirements and rules governing executor eligibility can vary widely. For example, your new state may not accept handwritten wills or may require two witnesses instead of one.

Some states also impose additional requirements on out-of-state executors. If you named someone who lives in your former state, they may be unable to serve without appointing a local co-executor or taking other legal steps. These requirements can delay probate and increase administrative costs for your loved ones.

Community Property and Spousal Rights

If you move from or to a community property state, your spouse’s inheritance rights could change. Community property states treat most assets acquired during marriage as jointly owned, regardless of how they’re titled. This could affect how your estate is divided, especially if your existing will was drafted with different assumptions.

Similarly, elective share laws vary from state to state. In some places, a surviving spouse is entitled to a percentage of the estate even if they are disinherited in the will. These rules can override your stated intentions, particularly if your estate plan hasn’t been updated since the move.

Update Beneficiary Designations and Ancillary Documents

Relocation is also a good time to review related documents, such as powers of attorney, advance directives and healthcare proxies. Some states require specific language or forms for these to be enforceable. A new address or a change in family circumstances may also necessitate revisions to your chosen agents or instructions.

Reviewing beneficiary designations on retirement accounts and life insurance policies is equally important. These assets often pass outside the will, and inconsistencies between documents can lead to unintended results. If you’re not certain your estate plan is robust and consistent, an estate planning attorney can help. If you are planning on moving to another state, work with an estate planning attorney to see how the state’s laws impact your will. If you would like to learn more about estate planning, please visit our previous posts.

Reference: The American College of Trust and Estate Counsel (Jul 17, 2019) “Should I Sign New Estate Planning Documents When I Move to a New State?”

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Using a Disclaimer Trust to Transfer Land

July 7, 2025

A husband dies, with an estate plan presenting two options to his surviving spouse: she can either inherit family farmland outright or disclaim it to a separate trust for her benefit. If she chooses the trust, she will receive income for life, and upon her death, the disclaimer trust will be divided equally among her three children. How to manage this situation is explored in an article from Successful Farming, “Should Land Go Into a Disclaimer Trust or Pass to the Spouse?” There are benefits to using a disclaimer trust to transfer land.

The concern is valid, as only one of the children is farming the land, and he’s concerned about how his siblings will accept the decision. She was told that the trust would be a good option due to its tax advantages. What are her options? There are five key elements to consider:

Estate taxes. In 2025, the federal estate tax exemption is $13.99 million per person. If she disclaims her husband’s portion of the land to the trust, the value won’t count towards her own personal estate. If she keeps the land, she can take advantage of portability for her husband’s exemption under IRS Form 706. Her own estate tax limit will increase to almost $28 million. The ported tax credit will remain flat as the estate’s value grows.

Asset protection. If the land goes into the disclaimer trust, it’s in there for good, and income and principal distribution rules can’t be changed. This is beneficial for protecting assets from creditors, as well as any complications arising from a second marriage or incapacity. However, is it beneficial for the family? If they need protection, the disclaimer trust is the place for the land. However, if they need it to be accessible, it should remain outside of the trust.

Asset control. The trustee is the fiduciary responsible for assets in the disclaimer trust. They can set a rent price and make decisions on capital improvements. Questions need to be clarified regarding requirements in the trust documents. Do these rules work for the family’s best interest, or is it better to have rules as defined in the surviving spouse’s will?

Distribution. Assuming the disclaimer trust ultimately divides the land between the three siblings, it lacks a means of keeping the land together. How will the son continue farming, knowing the land will be divided? Retrofitting a farm succession plan is like trying to move crops from one field to another. They won’t look pretty and may or may not grow.

This scenario is not unlike the situation many small business owners find themselves in when the spouse who has created a business dies and no succession planning has been done. There are benefits to using a disclaimer trust to transfer land. An appointment with an estate planning attorney is crucial for creating a comprehensive plan that encompasses the farm, business and family for both the near and distant future. if you would like to learn more about disclaimer trusts, please visit our previous posts.

Reference: Successful Farming (June 9, 2025) “Should Land Go Into a Disclaimer Trust or Pass to the Spouse?”

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Avoid the Survivor’s Tax Penalty After the Death of a Spouse

June 30, 2025

When one spouse passes away, the surviving partner often assumes their financial obligations will decrease. However, many widows and widowers face a surprising increase in their tax burden. Known as the “survivor’s penalty,” this issue affects individuals who transition from joint filing to single status, often while still receiving the same or similar income. There are some tips to avoid the survivor’s tax penalty after the death of a spouse.

As a result, survivors may end up in a higher tax bracket, lose key deductions and pay more on Social Security or investment income. If you or a loved one is navigating life after a spouse’s death, proactive tax and estate planning can help reduce this burden and preserve your financial stability.

What Is the Survivor’s Penalty?

The survivor’s penalty refers to the increased income taxes surviving spouses may face after switching from “married filing jointly” to “single” or “qualifying widow(er).” This change impacts:

Income tax brackets, which become narrower for single filers
Standard deductions, which are cut nearly in half
Taxation of Social Security benefits, which may be higher if income remains steady
Medicare premiums, which increase with higher taxable income

This situation is prevalent among retirees who rely on Social Security, pensions, or retirement accounts for their income. A surviving spouse may lose only a portion of the household income but still be taxed as a single person, resulting in a higher effective tax rate.

Real-World Impact on Retirees

Consider a couple filing jointly who has a combined income of $90,000. Their federal tax liability may be relatively modest thanks to the wider joint tax brackets and higher standard deduction.

However, if one spouse dies and the survivor continues to receive $70,000 in income, including retirement accounts and survivor benefits, they may be subject to a higher tax bracket. That income could also cause more of their Social Security benefits to become taxable and raise their Medicare Part B premiums.

These hidden costs can take a significant toll on a surviving spouse, especially during an emotionally and financially vulnerable time.

How a Probate Attorney Can Help You Plan Ahead

The best way to avoid the survivor’s penalty is to anticipate it while both spouses are still living. With the help of a probate or elder law attorney and financial advisor, couples can build tax-efficient strategies that reduce exposure.

Some options include:

Roth conversions: Paying taxes on retirement accounts now to reduce taxable income later
Adjusting Social Security claiming strategies: Coordinating timing to maximize survivor benefits
Splitting income-producing assets: Using trusts to distribute income more evenly across heirs or generations
Using the step-up in basis: Taking advantage of tax resets on inherited assets to reduce capital gains

It’s also important to ensure that estate planning documents reflect your current wishes. A surviving spouse who is suddenly left in charge of financial and medical decisions needs clear legal authority through powers of attorney, healthcare proxies and updated wills or trusts.

What to Do after a Spouse’s Death

If you are already a surviving spouse, it’s not too late to act. In the year of a spouse’s death, the surviving partner can still file a joint return. After that, unless they have a qualifying dependent, they must file as single.

Working with a probate attorney can help avoid the survivor’s tax penalty after the death of a spouse. They will help sort through estate settlements, beneficiary changes and tax filings. A CPA or financial planner can also assess how the change in filing status impacts required minimum distributions (RMDs), Medicare and taxes. If you would like to learn more about tax planning after the death of a loved one, please visit our previous posts.

Reference: CNBC (November 6, 2024) “You could face the ‘survivor’s penalty’ after a spouse dies — here’s how to avoid it”

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Understanding the Essentials of Social Security Survivor Benefits

June 4, 2025

It took nearly two years for one woman to obtain her Social Security survivor benefits, despite her three decades of working in a county District Attorney’s office and knowing how to navigate government systems. Ironically, the very same systems created to help widows and widowers during a time of grief end up adding to their stress, says a recent article from Next Avenue, “’What I Learned About Survivor Benefits After My Husband Died.’” Perhaps the most essential way to prevent problems is to take care of any possible snags while your spouse or partner is still living. This starts with understanding the essentials of survivor benefits for Social Security, pensions, or annuities. It also includes reviewing the names of account beneficiaries.

Three facts to bear in mind:

When a spouse dies, the surviving spouse does not receive two benefits. They receive one Social Security benefit, usually the higher of the two amounts. Planning for the loss of one of the two checks is essential.
Survivor benefits are based on two things. First, the spouses’ age when they pass, and second, the surviving spouse’s age when claiming surviving benefits. Those already collecting benefits can switch to the higher of the two benefits.
Even if the decedent spouse hadn’t filed for Social Security at their death, the survivors’ benefit amount is based on the amount the decedent would have received at their Full Retirement age (FRA). If the spouse were older than the FRA when they died, their benefit amount would be adjusted for those years.

The widow wasn’t expecting two checks, and she knew she was entitled to 100% of her spouse’s benefit because she had been married for at least nine months and didn’t remarry before turning 60. She also had claimed her survivor benefit after reaching at least FRA for survivor benefits, which has a different set of rules than regular FRA. The FRA is 66 and 4 months for survivor benefits if born in 1958. It’s 66 and 6 months for those born in 1959 and rises to age 67 for those born in 1962 or later.

She knew her husband’s benefits were higher than hers, but didn’t know how much higher. This one detail was the missing fact, causing her benefits to be tied up for more than 18 months. She needed to provide endless verifications, identification, and other documents to get it figured out.

Here’s what you need to know to avoid or at least minimize the stress of collecting survivor benefits:

Report the death of a spouse to Social Security as soon as possible.
Have an original death certificate.
Your own and your spouse’s Social Security numbers
Your birth certificate
A marriage certificate if you’re a surviving spouse.
Divorce papers if you’re applying as a surviving divorced spouse.
SSNs for any dependent children and their birth certificates
The most recent W-2 Wage and Tax statement or the latest federal self-employment tax returns.
The name of your bank and account number for direct deposits.

Planning for survivor benefits should be included as you go through the estate planning process. Your estate planning attorney will have helpful tips to ensure both spouses understand the essentials of survivor benefits for Social Security, so you are well protected and prepared for one of life’s hardest events. If you would like to learn more about social security and estate planning, please visit our previous posts.

Reference: Next Avenue (May 7, 2025) “’What I Learned About Survivor Benefits After My Husband Died’”

Older Couples Should Consider Premarital Agreement

May 29, 2025

Marriage later in life brings special joys—and specific legal and financial considerations. Whether it’s a second marriage, a partnership after raising children, or finding love after retirement, older couples often have more complex financial situations than younger newlyweds. Older couples should consider a premarital agreement.

Assets, retirement savings, real estate and inheritances accumulated over decades must be handled with care. A premarital agreement (often called a prenuptial agreement) is one of the most practical tools to protect individual and family interests. Far from being a sign of mistrust, a well-crafted agreement fosters transparency, protects loved ones and reduces the risk of disputes if the marriage ends through death or divorce.

Why Older Couples Should Plan with a Premarital Agreement

Older couples frequently bring established financial histories into marriage. They may own homes, businesses, investment portfolios, or have obligations like alimony or child support from previous relationships. Some may wish to preserve assets for adult children or grandchildren.

Without a premarital agreement, state laws—rather than personal wishes—may determine how property is divided upon divorce or death. In many cases, a surviving spouse is entitled to a significant portion of the estate, even if the deceased spouse intended to leave more to children from a prior marriage.

A premarital agreement allows couples to customize these outcomes, ensuring that their wishes are respected and that their marriage starts with full financial clarity.

Key Issues to Address in a Premarital Agreement

Premarital agreements typically address how assets and debts will be handled both during the marriage and in the event of divorce or death. Common topics include:

Identifying separate versus marital property
Defining how jointly acquired assets will be divided
Specifying inheritance rights for children from previous relationships
Clarifying responsibility for debts incurred before or during the marriage
Determining spousal support or waiving it altogether

Couples may also include agreements about healthcare decision-making, although these issues are often handled through separate estate planning documents.

While some topics, like child custody or child support for minor children, cannot typically be negotiated in advance, most financial and property-related matters are fair game.

Protecting Heirs and Family Interests

For older individuals with children from previous marriages, a premarital agreement can protect family inheritances. Without one, surviving spouses could inherit property that parents intended to pass directly on to their children.

Using a premarital agreement in combination with updated wills, trusts and beneficiary designations creates a comprehensive plan that reflects your true intentions and avoids accidental disinheritance.

It’s also an act of love—shielding family members from costly, painful legal disputes and ensuring that everyone understands and respects your wishes.

Premarital Agreements Strengthen Communication

Discussing finances can be uncomfortable. However, it builds stronger foundations. A premarital agreement encourages open conversations about money, values and expectations. It forces couples to talk about important topics—retirement plans, caregiving needs and financial obligations to others—that might otherwise be overlooked.

Rather than undermining romance, these discussions show respect for each other’s histories and futures. They create shared understanding and prevent surprises down the road.

The Importance of Independent Legal Advice for Each Spouse

For a premarital agreement to be legally enforceable, each party should have their own attorney review the document. This ensures that both individuals understand their rights and obligations and that the agreement cannot be challenged later due to claims of coercion or misunderstanding.

Older couples should consider a premarital agreement. Working with an experienced estate planning or family law attorney ensures that the agreement is tailored to your state’s specific requirements and your unique circumstances. If you would like to learn more about planning for older couples, please visit our previous posts.

References: American College of Trust and Estate Counsel (ACTEC) (Nov. 5, 2020) “What Is a Prenuptial Agreement?” and Hello! Magazine (April 2025) “King Charles and Queen Camilla’s Separate Homes: Was a Marital Agreement Involved?”

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Category: Spouse

Spousal Lifetime Access Trusts can Protect Your Partner

Understanding Spousal Lifetime Access Trusts

How SLATs Protect Wealth

Key Structural Considerations

When to Consider a SLAT

Balancing Flexibility and Finality

Portability Doesn’t Happen Automatically

Protect Your Child’s Inheritance in a Second Marriage

How Wealth is Distributed in Blended Families

Secure Your Spouse’s access to Quality Care

Understanding Medicaid Eligibility

Why Legal Planning Is Essential for Medicaid Eligibility

Preparing Emotionally and Practically for the Transition to Nursing Care

Moving to Another State can Impact Your Will

Your Will May Still Be Valid—But That’s Not Enough

Community Property and Spousal Rights

Update Beneficiary Designations and Ancillary Documents

Using a Disclaimer Trust to Transfer Land

Older Couples Should Consider Premarital Agreement

Why Older Couples Should Plan with a Premarital Agreement

Key Issues to Address in a Premarital Agreement

Protecting Heirs and Family Interests

Premarital Agreements Strengthen Communication

The Importance of Independent Legal Advice for Each Spouse

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