Sunday, January 15, 2006

prenuptial property agreement

Prenuptial property agreements can have advantages for people who marry in later life. A spouse of only a few months may become unexpectedly burdened with enormous medical costs if the partner suddenly has a stroke or becomes mentally disoriented and there is no help forthcoming from the family. Keeping "before marriage" assets in one's own name during the marriage can make a difference if application is made for Medicaid assistance for a spouse in a nursing home. Should the late-life romance prove unsatisfactory and end in divorce, a prenuptial agreement can assure that no one is left without any financial resources.
Nauton, E. "Elderly Marriages ... Till Money Do Us Part," in Aging, Goldstein, E. C., ed. Vol. 1, Art. 58. Boca Raton, Fl.: Social Issues Resource Series, Inc., 1981.

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