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Medical_Student
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Just wanted to check in and see if there were any particulars RE: above – or is it for the most part the same as the Roman Church.
That may be true, but not as effective. One may express their intent in a will or other contractual agreement, but this may be secretly changed by either party without the other’s knowledge. As you may know, a new will does not need to be filed; it may be validly [and secretly] changed at a later date by a handwritten paper, usually witnessed by another person. Many lawsuits of the rich-and-famous have been contested over just such instruments as this.Why would you need a prenup to pass property to children? There are other legal documents one can file.
An irrevocable trust is better than a prenuptial agreement. There is also the revocable living trust AB (with marital trust and bypass trust) or an ABC trust. Do not move community property into a trust that was created before the marriage.That may be true, but not as effective. One may express their intent in a will or other contractual agreement, but this may be secretly changed by either party without the other’s knowledge. As you may know, a new will does not need to be filed; it may be validly [and secretly] changed at a later date by a handwritten paper, usually witnessed by another person. Many lawsuits of the rich-and-famous have been contested over just such instruments as this.
However, a pre-nup is a an agreement formally entered into for a binding purpose as disposition of property or assets owned by either spouse prior to the marriage.
I can see a value in an AB trust, but it doesn’t differ very much in theory from a pre-nup. In either case, the assets are formally delineated and determination is made regarding beneficiaries. The only difference in the trust is that it will provide greater advantage in escaping tax liability in the event of death.An irrevocable trust is better than a prenuptial agreement. There is also the revocable living trust AB (with marital trust and bypass trust) or an ABC trust. Do not move community property into a trust that was created before the marriage.
The trusts are not an agreement between the spouses like a prenuptial is so can be private and the assets in them are never part of the marital estate.I can see a value in an AB trust, but it doesn’t differ very much in theory from a pre-nup. In either case, the assets are formally delineated and determination is made regarding beneficiaries. The only difference in the trust is that it will provide greater advantage in escaping tax liability in the event of death.
Not too many folks entering into a second marriage are aware of these trusts, unless they receive counselling from an attorney skilled in these two types of instrument.
The question at hand seems to be, does either instrument invalidate the marriage? I think not, since tribunals will evaluate the mutual consent entered into at the time of the marriage, which in itself may be sacramentally binding, despite any agreement regarding the disposition of assets. Dr. Peters alluded to this in Bookcat’s link.
Could it be argued against a valid marriage whenever these assets are “privately” set aside in a trust almost immediately prior to the marriage? I am not disagreeing with you, but the timing could be seen as “what’s mine remains forever as mine.” I just choose to use a fancier way of setting them aside.The trusts are not an agreement between the spouses like a prenuptial is so can be private and the assets in them are never part of the marital estate.
If an agreement indicates that the spouses do not regard marriage as indissoluble, it would be grounds for declaration of nullity. Future conditions are not allowed, but other conditions are allowed with written permission.Could it be argued against a valid marriage whenever these assets are “privately” set aside in a trust almost immediately prior to the marriage? I am not disagreeing with you, but the timing could be seen as “what’s mine remains forever as mine.” I just choose to use a fancier way of setting them aside.
If a person has children and wishes to protect them in the event of death, I would think that this trust should be done long before there is a second marriage on the horizon. There could be no doubt then about their assets being excluded from a future partner.