• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Sinclair Prosser Gasior

Annapolis Estate Planning Attorneys

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Call Now: (410) 573-4818

Attend a Free Workshop Trustee School

  • Home
  • About Our Firm
    • About Our Firm
    • Founding Attorneys
    • Meet Our Team
  • Services
    • Annapolis, MD Asset Protection and Business Planning
    • Estate and Gift Tax Figures
    • Annapolis, MD Elder Law & Medicaid Services
    • Annapolis, MD Trust Administration & Probate
    • Family-Owned Businesses & Farms
    • Annapolis, MD Incapacity Planning
    • Annapolis, MD LGBTQ Estate Planning
    • Annapolis, MD Pet Planning
    • SECURE Act
    • Annapolis, MD Special Needs Planning
    • Estate Planning for Young Families
  • Resources
    • DocuBank
    • Elder Law Reports
    • Estate Planning Definitions
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Asset Protection Planning
      • Estate Planning
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid
      • Power of Attorney
      • Probate Avoidance
      • Trust Administration & Probate
      • Wills
    • Is Your Estate Plan Outdated?
    • Probate Resources
    • Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Trust Administration
      • Estate Planning for Niches
    • Top 10 Estate Planning Techniques
    • Newsletters
  • COMMUNITIES WE SERVE
    • Anne Arundel County
      • Annapolis
      • Crownsville
      • Davidsonville
      • Highland Beach
      • Millersville
    • Baltimore County
    • Calvert County
      • Dunkirk
      • Huntingtown
      • Owings
    • Charles County
      • Charlotte Hall
      • Waldorf
    • District of Columbia
    • Howard County
    • Maryland
      • Clarksville
      • Columbia
      • Ellicott City
    • Prince George County
      • Bowie
      • Fort Washington
      • Glenn Dale
    • Queen Anne’s County
      • Grasonville
      • Queenstown
      • Stevensville
    • St. Mary’s County
      • Charlotte Hall
      • Leonardtown
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact Us
  • Make A Payment
  • Client Portal
Home / Advanced Estate Planning / Pre-nuptial Agreements

Pre-nuptial Agreements

May 24, 2012 by Sinclair Prosser Gasior

Are you thinking of getting married?  You may have heard of pre-nuptial agreements but you are not sure if such an agreement is right for you.  Since many of my clients seek my advice after they have acquired a level of wealth, I am usually working on pre-nuptial agreements to make certain the assets acquired during a lifetime are left to a person’s family prior to the new marriage and are not left to a new spouse.  In this scenario a pre-nuptial agreement can be a significant estate planning legal tool.

When entering into a pre-nuptial agreement, you will have to fully disclose all of your assets and income to the other party.  The agreement must be in writing and each party must have an opportunity to have legal representation.

There are many issues to address in a pre-nuptial agreement, but let me list a few of the common ones: What happens if the newly married couple purchases a home together?  How will it be titled?  What happens to the home when one of the spouses dies?  If one party sells their home and moves in with the other party, what protection does the spouse have if the spouse who owns the home dies?

As you go forward in your life together, tangible personal property such as furniture, artwork and electronics much be considered and their ownership documented.  It is important to catalogue family heirlooms so those items can be returned to the family from which they originated.

401(k)s and other retirement plans must be handled separately.  In fact, you cannot establish your right to a 401(k) in a pre-nuptial agreement.  It must be addressed when you are a spouse.  Often when I prepare a pre-nuptial agreement, I will also prepare a post-nuptial agreement to deal with the retirement plans.

A word of caution: If your spouse goes into a nursing home, a pre-nuptial agreement will not protect your assets.  If you are married you must use your assets to care for your spouse even if you have a pre-nuptial agreement in place.  It is important to determine how long-term care expenses will be paid.  Does your future spouse have enough assets to pay for their care?  Do they own long-term care insurance?  These questions must be answered to ensure your long term financial security.

As you can see, a pre-nuptial agreement takes time and consideration, but can give both spouses peace of mind for their future together.

  • Author
  • Recent Posts
Sinclair Prosser Gasior
Sinclair Prosser Gasior
Our firm is dedicated to providing you with quality estate planning resources, so you can become familiar with all of the existing options. When you visit or call our office, we want you to feel comfortable discussing such an important issue concerning both you and your family. We want to arm you with the information you need to make an informed decision about your family’s future.
Sinclair Prosser Gasior
Latest posts by Sinclair Prosser Gasior (see all)
  • How Often Should I Meet with an Estate Planning Attorney? - January 18, 2018
  • Tax Law Changes for 2018 - December 29, 2017
  • Dedicated Gardeners & Creative Spaces in Annapolis, MD - May 30, 2017

Filed Under: Advanced Estate Planning, Estate Planning, Long term care insurance, Long Term Care Planning Tagged With: Blended Families, Inheritance Planning, Legacy Planning

Other Articles You May Find Useful

Sinclair Prosser Gasior
Free Estate Planning Seminars Next Week! Register now!
Sinclair Prosser Gasior
Helping Your Parents Through Their Twilight Years
Sinclair Prosser Gasior
Colleen Sinclair Prosser with Founding Partners of the American Academy of Estate Planning Attorneys
Sinclair Prosser Gasior
Listen to “Your Estate Matters!” tomorrow morning (Tuesday) at 8:50 a.m. on WNAV Radio
Sinclair Prosser Gasior
Generation Skipping Trusts: You Are Not Skipping a Generation, You are Skipping a Generation of Tax
Sinclair Prosser Gasior
Your Estate Matters – Audio

Primary Sidebar

Download our free estate planning worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Testimonials

5 Stars
Client Review
September 3, 2020
    

We initiated estate planning following a presentation by Sinclair Prosser Attorney Jon Gasior. We were so impressed, we contracted with them to complete our estate planning. Subsequently, we assembled information on our assets and Sinclair Prosser Gasior did the rest. Correspondence was communicated to our financial institutions and the estate was established. We were very pleased with the courteous manner of the Sinclair Prosser Gasior staff. However, it was their professionalism that made us satisfied we chose this firm to handle our estate. We have nothing but praise for Sinclair Prosser Gasior .

default image
– Walter K.

Blog Subscription

Sign up for our blog to receive all of our latest estate planning news and updates!
  • This field is for validation purposes and should be left unchanged.

ANNAPOLIS

900 Bestgate Road
Suite 103, Annapolis, Maryland 21401
Phone: (410) 573-4818
Fax: (410) 573-2802

BOWIE

4201 Mitchellville Road
Suite 403, Bowie, MD 20716
Phone: (301) 970-8080
Fax: (410) 573-2802

MILLERSVILLE

1520 Jabez Run Rd
Suite 300, Millersville, Maryland 21108
Phone: (410) 573-4818
Fax: (410) 573-2802

WALDORF

Hamilton Centre II
3261 Old Washington Road, Suite 2020 Waldorf, MD 20602
Phone: 800-366-4615

Map

map for office

Footer

footer logo
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

The information on this Maryland Attorneys & Lawyers / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

© 2023 American Academy of Estate Planning Attorneys| Privacy Policy | Contact Us | Disclaimer | Site Map