Pre-Nuptial Agreement and Financial Power of Attorney
My husband and I have a pre-nuptial agreement in place, and have been married 5.5 years. We are getting our important paperwork in order, including the Financial PoA. If I name my husband as my Financial PoA, does that invalidate the pre-nuptial agreement (in case we divorce)? Thank you.
Terry Says
No. Check with your attorney, but the prenuptial agreement is designed to distribute property in the case of a divorce. You can always change your financial POA — it’s a simple process. But changing a Prenup is a much bigger deal.
Also, that financial POA should be part of a much larger estate plan — perhaps a Revocable Living Trust. Would you name your spouse — or an adult child — as your successor trustee for your RLT? And who would you name to your Healthcare power of attorney?
If you make a RLT, then you title all your financial accounts in the name of the trust and your successor trustee automatically can handle most things financially related. That’s probably a more comprehensive way to plan. Watch this video — then make sure you consult your OWN estate planning attorney, not that of your spouse.
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4
