Nuptial Agreement Forms And Lists For Estate Planners (Page 4 of 6) in pdf

Nuptial Agreement Forms And Lists For Estate Planners Page 4

62 | The Practical Lawyer

June 2016

C. Sample Issues List for Parties to Discuss Before Drafting Begins

In order to facilitate in the process of drafting the prenuptial agreement, you should consider your goals

and financial situation prior to our meeting next week. As we discussed, we advise that you communicate

openly with Jane regarding the prenuptial agreement to the extent that you are comfortable doing so, as

the resolution of issues between the two of you will greatly improve the efficiency and amicability of the

process.

You requested that we set forth for you specific items you should address before we meet for our pre-

drafting session next week. The following issues are major items that will need to be addressed in the pre-

nuptial agreement process.

1. Lifestyle. What is the amount of money you and Jane will spend each month to maintain your life-

style, and to what extent do you wish to finance Jane in maintaining such a lifestyle in the event of divorce?

What about in the event of your death?

2. Maintenance. Will either of you be required to make monthly maintenance payments in addition

to a property settlement? If so, will those payments cease upon remarriage?

3. Property Settlement. Will you list assets that you wish to keep separate and then divide only assets

acquired after your marriage based on a percentage division (e.g. 50/50 split)? If so, will the percentage

vary based on the number of years you are married? If you wish to base the property settlement on the

number of years married and ignore the separate/marital property distinction, at what point do you in-

crease the settlement amount (e.g. $100,000 for every year up to 10 years, and then $200,000 for every year

thereafter; or $100,000 for every year and $2,000,000 flat once you reach 10 years)?

4. Residence. Will Jane retain the residence in the event of death or divorce? If so, who will be respon-

sible for the remaining mortgage, if any? Will Jane be required to sell the home and give you your share of

the proceeds or buy you out of your share after a certain period of time?

5. Special Assets. Are there any particular assets you would like to maintain as your own separate as-

sets even after you are married? For example, will you have any rights in the other’s retirement accounts?

6. Release. Are you willing to release your rights in assets that Jane wishes to maintain as her separate

property following your marriage?

7. Joint Assets. If you acquire any assets in joint ownership, how will those assets be divided?

8. Fiduciary Designations. Do you wish to agree to resign as Trustee of any trust created by the other

person in the event of divorce? For example, if we establish an insurance trust for you as part of your estate

plan and you name Jane as Trustee, will she resign that position?

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