This is a Form of Pre-Nuptial Agreement to be used by persons contemplating marriage and desiring to protect their respective assets. It is essential without exception that the Agreement include Schedules listing all of each person’s assets and include a recitation affirming that each has engaged separate representation. There must be full and complete disclosure of one’s assets. Under no circumstances should the same attorney be permitted to represent both parties, even if one party is willing to waive any conflict.
Note that paragraph 3 suggests that there be a listing of some of the more significant assets held by each party. Items such as trust funds, interests in family businesses or professional practices are often highlighted here for emphasis.
The general thrust of this Agreement is that each party is entitled to take from the marriage should it end exactly what he/she brought to the marriage, and not be required to give up any property interests to the other person. Note that paragraph 7 provides that the parties may, at their discretion, benefit each other to whatever extent they determine to be appropriate.
Steven G. Siegel is president of The Siegel Group, a Morristown, New Jersey - based national consulting firm specializing in tax consulting, estate planning and advising family business owners and entrepreneurs. Mr. Siegel holds a BS from Georgetown University, a JD from Harvard Law School and an LLM in Taxation from New York University.
He is the author of several books, including: Planning for An Aging Population; Business Entities: Start to Finish; Taxation of Divorce and Separation; Income Taxation of Estates and Trusts, Preparing the Audit-Proof Federal Estate Tax Return, Putting It Together: Planning Estates for $5 million and Less, Family Business Succession Planning, Business Acquisitions: Representing Buyers and Sellers in the Sale of a Business; Dynasty Trusts; Planning with Intentionally-Defective Grantor Trusts; The Federal Gift Tax: A Comprehensive Analysis; Charitable Remainder Trusts, Grantor Trust Planning: QPRTs, GRATs and SCINs, The Estate Planning Course, The Retirement Planning Course, Retirement Distributions: Estate and Tax Planning Strategies; The Estate Administration Course, Tax Strategies for Closely-Held Businesses, and Tort Litigation Settlements: Tax and Financial Issues.
Mr. Siegel has lectured extensively throughout the United States on tax, business and estate planning topics on behalf of numerous organizations, including National Law Foundation, AICPA, CCH, National Tax Institute, National Society of Accountants, and many others. He has served as an adjunct professor of law at Seton Hall and Rutgers University law schools.
The Siegel Group provides consulting services to accountants, attorneys, financial planners and life insurance professionals to assist them with the tax, estate and business planning and compliance issues confronting their clients. Based in Morristown, New Jersey, the Group has provided services throughout the United States. The Siegel Group does not sell any products. It is an entirely fee-based organization.
Contact the Siegel Group through its president, Steven G. Siegel, e-mail: firstname.lastname@example.org.