Thought for the Day” #1079 – by Stephen R. Elville, J.D., LL.M.

May 10, 2018

“Because of the technical and procedural requirements for a valid, effective, and legally enforceable pre-nuptial agreement (including independent legal counsel for both parties and full disclosure of assets), and the sometimes uncomfortable and problematic situations that can arise between couples during the process of discussing and entering into pre-marital agreement negotiations, along with the possibility that if challenged a judge could determine some element of the agreement “unfair,” couples looking for an alternative pre-marital asset protection strategy should consider a domestic asset protection trust (DAPT) established in one of the jurisdictions where self-settled irrevocable asset protection trusts are available, such as Delaware. While the DAPT is a powerful asset protection tool for those contemplating marriage, the key to its effective use is that it must be established PRIOR TO marriage.”