{"id":8910,"date":"2021-04-13T20:32:52","date_gmt":"2021-04-13T20:32:52","guid":{"rendered":"https:\/\/ogbornelaw.com\/?p=8910"},"modified":"2023-07-19T19:28:27","modified_gmt":"2023-07-19T19:28:27","slug":"family-legacy-planning-prenups","status":"publish","type":"post","link":"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/","title":{"rendered":"Family Legacy Planning &#038; Prenups"},"content":{"rendered":"<p>It\u2019s a godsend to have the chance to pass on considerable assets to your children \u2013 and it\u2019s probably one of the reasons you worked so hard and saved so diligently during your life. It\u2019s normal to want to keep your wealth within your family, particularly as we find ourselves living through economically uncertainty. Although you may love your daughter or son-in-law very much, present world events have let us know that you can\u2019t predict what the future might bring. This could lead to many people wondering if there\u2019s a way to bequeath money to their children devoid of passing any rights on to the spouses of their children.<\/p>\n<p>Usually, after you pass assets to your children unmitigated, their spouses are going to have equal rights to those assets. If you have positive relationships among their spouses, it\u2019s normal to feel somewhat guilty about attempting to avoid passing on any rights of your wealth. Nevertheless, if you feel adamant about retaining your financial legacy for your children, there are ways to accomplish this.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_76 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/#Trusts\" >Trusts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/#Prenuptial_Agreements\" >Prenuptial Agreements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/#Postnuptial_Agreements\" >Postnuptial Agreements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/#How_to_Begin_With_Legacy_Planning\" >How to Begin With Legacy Planning<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/#Source\" >Source:<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/webtechs-designs.com\/2023Ogborne\/family-legacy-planning-prenups\/#Arizona_Family_Law\" >Arizona Family Law<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Trusts\"><\/span>Trusts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Creating a trust is one of the most general ways to shield your assets, and it\u2019s simple to do. When you want to bequeath money to your children today, you could devise the trust now. When you want to wait until you\u2019ve passed away, the trust could be created through your will and go into effect at a later time.<\/p>\n<p>Trusts are very adaptable \u2013 it can receive investment assets, in addition to being named the beneficiary of assets such as your retirement accounts or life insurance. You are able set the conditions of the trust to direct precisely how much income or capital should be allocated to your children. You are able to even direct the trustee to pay out only expenses for your children instead of allocating cash, in which is going to protect against their spouses gaining access to cash allocations.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Prenuptial_Agreements\"><\/span>Prenuptial Agreements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Historically, there has been somewhat of a shame when signing prenuptial agreements. However, increasingly number of Millennials are opting to sign a prenup. Not only do prenups document and verify the assets each one of the spouses brings into the marriage, but they specify what happens to assets that could be inherited someday. When you know your plans prior to your children getting married, as well as the wealth you are planning to bequeath to them in their prenuptial agreements is going to guarantee the money will stay with them.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Postnuptial_Agreements\"><\/span>Postnuptial Agreements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>So, what happens when it\u2019s too late to get your children to sign a prenup? Postnuptial agreements enable you to achieve the same peace of mind concerning the future allocation of your assets, but they are put in place following your children have already got married. This may make for an uncomfortable discussion, and there is the possibility for it to create some bad emotions throughout the family. Nevertheless, when you feel adamant about retaining your wealth with your children, it may be worth the risk to guarantee your estate plans are carried out in accordance with your wishes.<\/p>\n<p>Estate planning is about taking steps presently to guarantee you can manage the future allocation of your assets. Despite your relationships with your children\u2019s spouses, it\u2019s not uncommon to want to guarantee your wealth stays with your children. As you mull over your options, including those aforementioned, it\u2019s a good idea to enlist the counsel of a qualified attorney to make your estate documents are correctly prepared to fulfill your wishes.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Begin_With_Legacy_Planning\"><\/span>How to Begin With Legacy Planning<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Generally, the first step to any legacy planning method is to collect information. You will want to create a list of each of your assets and where they\u2019re located. That can comprise of everything from brokerage accounts to actual real estate to insurance policies.<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Source\"><\/span>Source:<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ol>\n<li>\n<p style=\"margin-left: 28.35pt; text-indent: -28.35pt;\">Admin. (2020, August 21). <a href=\"https:\/\/pacesferrywealth.com\/estate-planning-keeping-your-legacy-in-the-family\/\">Estate planning: Keeping your legacy in the family.<\/a> Retrieved April 12, 2021, from https:\/\/pacesferrywealth.com\/estate-planning-keeping-your-legacy-in-the-family\/<\/p>\n<\/li>\n<\/ol>\n<h2><span class=\"ez-toc-section\" id=\"Arizona_Family_Law\"><\/span>Arizona Family Law<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><iframe loading=\"lazy\" style=\"border: 0;\" src=\"https:\/\/www.google.com\/maps\/embed?pb=!1m14!1m8!1m3!1d13295.289322404855!2d-111.972881!3d33.583962!3m2!1i1024!2i768!4f13.1!3m3!1m2!1s0x0%3A0xa02db9a3ce093e9d!2sOgborne%20Law%20PLC!5e0!3m2!1sen!2sus!4v1575490314048!5m2!1sen!2sus\" width=\"100%\" height=\"150\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Naming <a href=\"https:\/\/ogbornelaw.com\/services\/estate-planning\/\" data-cke-saved-href=\"https:\/\/ogbornelaw.com\/services\/estate-planning\/\">guardians in your will<\/a> can be part of your <a href=\"https:\/\/ogbornelaw.com\/services\/estate-planning\/\" data-cke-saved-href=\"https:\/\/ogbornelaw.com\/services\/estate-planning\/\">estate plan<\/a>. You may think you\u2019re too young or don\u2019t have enough money to justify the expense, but if you have children, you have priceless assets. There are many <a href=\"https:\/\/ogbornelaw.com\/consider-naming-guardians\/\" data-cke-saved-href=\"https:\/\/ogbornelaw.com\/consider-naming-guardians\/\">considerations when naming guardians<\/a> for your kids. However, the process doesn\u2019t have to be expensive or complicated.<\/p>\n<p>There\u2019s nothing better than the peace of mind you will\u00a0have knowing you\u2019ve protected your family at a time when they need it most. Let us help. <a href=\"https:\/\/ogbornelaw.com\/schedule-a-consultation\/\" data-cke-saved-href=\"https:\/\/ogbornelaw.com\/schedule-a-consultation\/\">Schedule a consultation<\/a> or <a href=\"https:\/\/ogbornelaw.com\/contact\/\" data-cke-saved-href=\"https:\/\/ogbornelaw.com\/contact\/\">contact<\/a> Ogborne Law, PLC of Arizona today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a godsend to have the chance to pass on considerable assets to your children \u2013 and it\u2019s probably one of the reasons you worked so hard and saved so diligently during your life. It\u2019s normal to want to keep your wealth within your family, particularly as we find ourselves living through economically uncertainty. Although&hellip;<\/p>\n","protected":false},"author":3,"featured_media":10835,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[178,52,184],"tags":[179],"class_list":["post-8910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legacy-planning","category-postnuptial-agreements","category-prenuptial-agreements","tag-legacy-planning","category-178","category-52","category-184","description-off"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Family Legacy Planning &amp; Prenups - Ogborne Law<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Family Legacy Planning &amp; Prenups - Ogborne Law\" \/>\n<meta property=\"og:description\" content=\"It\u2019s a godsend to have the chance to pass on considerable assets to your children \u2013 and it\u2019s probably one of the reasons you worked so hard and saved so diligently during your life. 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