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Marriage & Love. Family Affairs >> Love and Marriage with Prenuptial Agreement >> Prenup for Only Child - Protect Inheritance?
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| Discussion: Prenup for Only Child - Protect Inheritance? | - |
| Joined 28 Jun 2022 2:42 pm
1 post
Unrated |
I am an only child and stand to inherit a decent amount of money. My parents are still alive, however I am the sole beneficiary to their estate and also have power of attorney. Marriage is on the horizon for me and I want to know if I need a prenuptual agreement to protect my future inheritance. It is my understanding that my future husband cannot claim my inheritnace as long as I dont spend my inheritance on something that would be marital property. Is that true?
I really do not want to go through getting a prenuptual agreement. Aside from my future inheritance, I do not own any real estate or anything worth protecting. Are there any alternatives to a prenup that I can establish to protect my inheritance and the little money I have saved? How about a revocable living trust?
Since I have power of attorney over parents, if I am married and I die before them and my husband. Does that power of attorney transfer to my husband? I wouldnt want that either.
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| Joined 26 Jan 2022 1:01 pm
144 posts
9.6/10 Rating |
Dear Columbus22,
You are absolutely right saying that your inheritance money remain your property unless you sacrifice them to buy marital property.
Your parents may set up a testamentary trust meaning that you inherit whatever they had in the trust after they pass away. OR, you may set up a Living Trust after you receive the inheritance. But for now, as we understand from your post, there is nothing to worry about except that some savings money. Anyway, we strongly recommend you to consult an attorney whether a Living Trust is the best option for you.
Good news: the Power of attorney you are holding dies together with your parents. That means that after death of your parents their POA is ineffective.
Please note that authorities granted in a Power of attorney are "non-transferable".
Best regards,
Legal Helpmate Corp.
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