Working with a financial advisor is a great way to preserve and increase personal wealth. When it comes to getting married, a New Jersey financial advisor can also help protect against losses in the event of a high asset divorce. Each set of circumstances is unique, but a prenuptial agreement is among the most powerful ways to protect wealth.
In some cases, a prenup is simply a family expectation. Many wealthy families insist that their adult children sign a prenuptial agreement prior to tying the knot. Some families even have a set list of terms that are to be included in the document.
While this may seem like a heavy-handed approach, most parents are simply trying to protect a child from making a costly mistake. Some parents and grandparents go so far as to insist that a prenup is in place in order for an adult child to receive his or her inheritance. While this may seem like a harsh way to go about sheltering wealth from loss, it can make a great deal of sense.
When a prenup is an expected part of marriage, the matter becomes easier to discuss. That is especially true in cases where an inheritance is involved. Few prospective spouses would refuse to sign a prenuptial agreement and cause his or her life partner to lose an inheritance.
Including a prenup in one’s wedding plans is a great way for New Jersey residents to protect wealth from loss in a high asset divorce. Working with a financial advisor can make it easier to create a prenup that is aligned with the needs of both parties. For families in which prenuptial agreements are standard practice, the issue is often easier to discuss.
Source: wealthmanagement.com, “So Your Client Is Getting Married…“, Marvin Blum, Feb. 5, 2018
