[WSBAPT] Property Agreement

[Thomas E. Gates]

What does the pre-nup say?

Tom

Sent from my iPad

> On Dec 24, 2014, at 3:01 PM, Glenn Price <glenn at pricefarrington.com> wrote:
> 
> Ladies and Gentlemen:
>  
> A scenario for your consideration:
>  
> 1.     H (60) and W (58) have been happily married for almost eight years – the second marriage for each – and have an approximately $9M estate.
>  
> 2.     W has four adult children from a previous marriage and H has two.
>  
> 3.     W brought most of the assets into the marriage following the signing of a pre-nuptial agreement, but H and W now consider all assets to be community property and owned 50/50, with estate tax planning in place such that the first spouse to die can position his/her 50% of the estate as appropriate.
>  
> 4.     Here’s the wrinkle:  In the unlikely event that the marriage ever dissolves, W wants to assure – and H agrees – that the assets in the estate will be divided 80% to W and 20% to H (with specific asset valuations and allocation to be determined at that time).  As long as both spouses knowingly and voluntarily sign off on such an agreement with access to all information and benefit of independent counsel, is this achievable?  Any reason why such an agreement would be undoable or unenforceable?
>  
> Thanks for your insights.  And my very best wishes a for happy holiday and healthy, happy 2015.
>  
> GDP
> Glenn D. Price, J.D.
> Price & Farrington, PLLC
> Attorneys and Counselors at Law  
> Parkwood Office Center
> 2370 130th Avenue N.E., Suite 103
> Bellevue, Washington 98005
> Phone: 425.451.3583  Fax: 425.522.4818
> Email: glenn at pricefarrington.com
> Home page:   www.pricefarrington.com
> Estate, Tax, Retirement and Asset Protection Planning
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