Counseling Fiduciaries and Beneficiaries

Prenuptials: Meanings, Myths and Misconceptions

Prenuptial agreements, or “prenups,” often come with a cloud of misconceptions. Many people think they’re only for the rich and famous or assume that discussing a prenup casts doubt on a marriage before it even begins. But prenups are practical tools that help couples of all financial backgrounds protect their assets, define financial expectations and ensure a smoother process if circumstances change. Prenups can cover what would happen in the event of a separation, divorce or dissolution of the marriage, but they also can address inheritance rights in the event of the death of a spouse. This could be an important issue to address, particularly if there are children from a prior marriage, if a family-owned business is part of the balance sheet or if a significant ancestral inheritance could be impacted.

One common myth is that prenups take a long time to finalize, but with the right legal guidance, they can often be completed in a matter of weeks. Timing is crucial, though—it's recommended to start the conversation early, ideally a few months before the wedding, to ensure both parties have the time to thoughtfully consider their agreement. Far from being a sign of mistrust, a prenuptial agreement fosters open communication about finances, providing peace of mind for both partners as they start their life together. Whether you're protecting personal assets, family businesses or simply looking to avoid future misunderstandings, a prenup can be a smart step in securing your future.

Focus Areas:

Counseling Fiduciaries and Beneficiaries

Family Offices and Family Trust Companies

Irrevocable Trust Modifications

Private Foundations

Tax Return Preparation

The Power of a Postnuptial

What is a postnuptial agreement? Recognized in Ohio since 2023, this legal document allows married couples to define the division of assets and financial responsibilities in the event of separation, divorce or death of a spouse. A postnuptial can also be used to amend, revoke or terminate a previously executed premarital agreement. This can be very important to address if the premarital agreement was signed many years ago and its terms have become stale or outdated over time. A postnuptial agreement can be essential for couples needing to adapt to changes that have occurred since their wedding day.

At Schneider Smeltz Spieth Bell LLP, our attorneys excel in crafting these instruments, leveraging their deep understanding of the law, tax implications, business matters and estate planning. With this broad expertise, we ensure your postnuptial agreement will be comprehensive and tailored to protect your interests and secure your future.

Are you getting ready to say,
“I do?”

Are you already married, but circumstances have changed? Contact the Schneider Bell team today to talk about how we can future-proof your marital assets.

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