There is a common misconception that prenuptial agreements are only utilized in divorces. But prenups actually serve purposes other than divorce; namely, they are a protective measure than can be used in a couple's estate planning. Couples may also enter into a postnupital agreement for these purposes. To better understand this topic and who can benefit most from including a prenup or postnup as part of their estate plans, consult the guide below.

Separate Individual & Joint Assets

Going into a marriage, you and your future spouse can predetermine those assets that should be considered individual property and those that should be considered jointly-owned. If one of you was to suddenly pass away without these distinctions made, certain assets could be misclassified as marital or jointly-held property. And that means they would go to your spouse and perhaps not the recipient you would have wanted to receive the inheritance.

Leave Specific Inheritance Plans

A prenuptial or postnupital agreement can override certain laws on how estates are to be divided after an individual passes away. Spouses who are on their second or third marriage may have adult children to whom they want to leave specific property. According to the law in most states, property passes from one spouse to the other upon death. But with an estate planning prenup or postnup, you can ensure your individual plans for the property are honored.

For example, you and your second spouse each own separate land parcels in your respective names. The long-established family plan was that your eldest child from your first marriage would inherit your parcel of land. Your spouse has a similar family plan in place for the parcel they own: it would go to their eldest child from their first marriage. With a prenup or postnup, you can make certain that the transfer of property occurs smoothly and without incident and that state intestacy laws don't determine who gets the property you've already made provisions for. Without a prenup or a postnup, for instance, the property would automatically go to the spouse--not the eldest child, as had been the plan all along.

If maintaining separate assets is important to your family, consider including a prenup in your estate planning. Estate and probate attorney David R. Webb, Attorney at Law, has been serving clients in Lancaster County, Nebraska, for more than 30 years; he also offers representation in family law and civil litigation matters. Call (402) 477-7577 or visit him online to arrange a consultation.