<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div>I asked about the prenup to understand their mind set at the time they were entering into the marriage. While they are happily married now, it appears to me that the mind set remains at least to some degree. Would they enter into a postnup. That's a thought I am sure you have already considered. </div><div><br></div><div>I agree that the challenge is identifying the 80/20 division of the property. What types of assets are in the estate? Will the assets need to revalued over the length of their relationship if, in deed, they split up? Can they make the 80/20 division today and let the assets appreciate regardless of the 80/20 division in the out years?</div><div><br></div><div>Merry Christmas.<br><br>Sent from my iPad</div><div><br>On Dec 24, 2014, at 3:52 PM, Glenn Price <<a href="mailto:glenn@pricefarrington.com">glenn@pricefarrington.com</a>> wrote:<br><br></div><blockquote type="cite"><div><meta http-equiv="Content-Type" content="text/html; charset=utf-8"><meta name="Generator" content="Microsoft Word 14 (filtered medium)"><style><!--
/* Font Definitions */
@font-face
{font-family:Calibri;
panose-1:2 15 5 2 2 2 4 3 2 4;}
@font-face
{font-family:Tahoma;
panose-1:2 11 6 4 3 5 4 4 2 4;}
/* Style Definitions */
p.MsoNormal, li.MsoNormal, div.MsoNormal
{margin:0in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
a:link, span.MsoHyperlink
{mso-style-priority:99;
color:blue;
text-decoration:underline;}
a:visited, span.MsoHyperlinkFollowed
{mso-style-priority:99;
color:purple;
text-decoration:underline;}
p.MsoAcetate, li.MsoAcetate, div.MsoAcetate
{mso-style-priority:99;
mso-style-link:"Balloon Text Char";
margin:0in;
margin-bottom:.0001pt;
font-size:8.0pt;
font-family:"Tahoma","sans-serif";}
p.MsoListParagraph, li.MsoListParagraph, div.MsoListParagraph
{mso-style-priority:34;
margin-top:0in;
margin-right:0in;
margin-bottom:0in;
margin-left:.5in;
margin-bottom:.0001pt;
font-size:11.0pt;
font-family:"Calibri","sans-serif";}
span.BalloonTextChar
{mso-style-name:"Balloon Text Char";
mso-style-priority:99;
mso-style-link:"Balloon Text";
font-family:"Tahoma","sans-serif";}
span.EmailStyle20
{mso-style-type:personal;
font-family:"Calibri","sans-serif";
color:windowtext;}
span.EmailStyle21
{mso-style-type:personal-reply;
font-family:"Calibri","sans-serif";
color:#1F497D;}
.MsoChpDefault
{mso-style-type:export-only;
font-size:10.0pt;}
@page WordSection1
{size:8.5in 11.0in;
margin:1.0in 1.0in 1.0in 1.0in;}
div.WordSection1
{page:WordSection1;}
/* List Definitions */
@list l0
{mso-list-id:342903338;
mso-list-type:hybrid;
mso-list-template-ids:290096404 67698703 67698713 67698715 67698703 67698713 67698715 67698703 67698713 67698715;}
@list l0:level1
{mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-.25in;}
@list l0:level2
{mso-level-number-format:alpha-lower;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-.25in;}
@list l0:level3
{mso-level-number-format:roman-lower;
mso-level-tab-stop:none;
mso-level-number-position:right;
text-indent:-9.0pt;}
@list l0:level4
{mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-.25in;}
@list l0:level5
{mso-level-number-format:alpha-lower;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-.25in;}
@list l0:level6
{mso-level-number-format:roman-lower;
mso-level-tab-stop:none;
mso-level-number-position:right;
text-indent:-9.0pt;}
@list l0:level7
{mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-.25in;}
@list l0:level8
{mso-level-number-format:alpha-lower;
mso-level-tab-stop:none;
mso-level-number-position:left;
text-indent:-.25in;}
@list l0:level9
{mso-level-number-format:roman-lower;
mso-level-tab-stop:none;
mso-level-number-position:right;
text-indent:-9.0pt;}
ol
{margin-bottom:0in;}
ul
{margin-bottom:0in;}
--></style><!--[if gte mso 9]><xml>
<o:shapedefaults v:ext="edit" spidmax="1026" />
</xml><![endif]--><!--[if gte mso 9]><xml>
<o:shapelayout v:ext="edit">
<o:idmap v:ext="edit" data="1" />
</o:shapelayout></xml><![endif]--><div class="WordSection1"><p class="MsoNormal"><span style="font-size:12.0pt;color:#1F497D">Assume the prenup in a conventional way specifically identifies assets as one or the other’s SP and some as CP. Both spouses agree that many of the identified accounts are no longer in existence and that they assume their estate is now all CP. The question is their ability to agree to the division of the assets 80/20 upon a divorce.<o:p></o:p></span></p><div><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Glenn D. Price, J.D.<br>Price & Farrington, PLLC<br><i>Attorneys and Counselors at Law<o:p></o:p></i></span></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><i><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"> <o:p></o:p></span></i></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Parkwood Office Center<br></span><b><span style="font-size:12.0pt;color:#1F497D">2370 130<sup>th</sup> Avenue N.E., Suite 103</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><br>Bellevue, Washington 98005<br>Phone: 425.451.3583 Fax: 425.522.4818<o:p></o:p></span></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Email: </span><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"><a href="mailto:glenn@pricefarrington.com"><span style="color:blue">glenn@pricefarrington.com</span></a></span></u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><br>Home page: <a href="http://www.pricefarrington.com/" title="blocked::http://www.pricefarrington.com/">www.pricefarrington.com</a><o:p></o:p></span></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Estate, Tax, Retirement and Asset Protection Planning</span><span style="color:#993366"><o:p></o:p></span></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">This e-mail and any attachment is intended solely for the use of the addressee(s) and is privileged and confidential within the attorney-client privilege. If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment. </span><span style="color:#993366"><o:p></o:p></span></p><p class="MsoNormal" style="margin-left:.5in"><b><i><span style="font-size:10.0pt;color:navy">IRS Circular 230 provides that this message cannot be used to avoid any IRS tax penalties.</span></i></b><span style="color:#993366"><o:p></o:p></span></p><p class="MsoNormal" style="margin-left:.5in"><span style="color:#1F497D"><o:p> </o:p></span></p><p class="MsoNormal" style="margin-left:.5in"><i><span style="color:navy">No trees have been killed in the sending of this message, but billions of electrons have been horribly inconvenienced.<o:p></o:p></span></i></p><p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p></div><p class="MsoNormal"><span style="color:#1F497D"><o:p> </o:p></span></p><div><div style="border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in"><p class="MsoNormal"><b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif"">From:</span></b><span style="font-size:10.0pt;font-family:"Tahoma","sans-serif""> <a href="mailto:wsbapt-bounces@lists.wsbarppt.com">wsbapt-bounces@lists.wsbarppt.com</a> [<a href="mailto:wsbapt-bounces@lists.wsbarppt.com">mailto:wsbapt-bounces@lists.wsbarppt.com</a>] <b>On Behalf Of </b>Thomas E. Gates<br><b>Sent:</b> Wednesday, December 24, 2014 3:27 PM<br><b>To:</b> WSBA Probate & Trust Listserv<br><b>Subject:</b> Re: [WSBAPT] Property Agreement<o:p></o:p></span></p></div></div><p class="MsoNormal"><o:p> </o:p></p><div><p class="MsoNormal">What does the pre-nup say?<o:p></o:p></p></div><div><p class="MsoNormal"><o:p> </o:p></p></div><div><p class="MsoNormal">Tom<br><br>Sent from my iPad<o:p></o:p></p></div><div><p class="MsoNormal" style="margin-bottom:12.0pt"><br>On Dec 24, 2014, at 3:01 PM, Glenn Price <<a href="mailto:glenn@pricefarrington.com">glenn@pricefarrington.com</a>> wrote:<o:p></o:p></p></div><blockquote style="margin-top:5.0pt;margin-bottom:5.0pt"><div><p class="MsoNormal" style="margin-left:.25in"><span style="font-size:12.0pt">Ladies and Gentlemen:</span><o:p></o:p></p><p class="MsoNormal" style="margin-left:.25in"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoNormal" style="margin-left:.25in"><span style="font-size:12.0pt">A scenario for your consideration:</span><o:p></o:p></p><p class="MsoNormal" style="margin-left:.25in"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="mso-list:Ignore">1.<span style="font:7.0pt "Times New Roman""> </span></span><!--[endif]--><span style="font-size:12.0pt">H (60) and W (58) have been happily married for almost eight years – the second marriage for each – and have an approximately $9M estate. </span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="mso-list:Ignore">2.<span style="font:7.0pt "Times New Roman""> </span></span><!--[endif]--><span style="font-size:12.0pt">W has four adult children from a previous marriage and H has two. </span><o:p></o:p></p><p class="MsoListParagraph"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="mso-list:Ignore">3.<span style="font:7.0pt "Times New Roman""> </span></span><!--[endif]--><span style="font-size:12.0pt">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.</span><o:p></o:p></p><p class="MsoListParagraph"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoListParagraph" style="text-indent:-.25in;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="mso-list:Ignore">4.<span style="font:7.0pt "Times New Roman""> </span></span><!--[endif]--><span style="font-size:12.0pt">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?</span><o:p></o:p></p><p class="MsoListParagraph"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:12.0pt">Thanks for your insights. And my very best wishes a for happy holiday and healthy, happy 2015.</span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:12.0pt"> </span><o:p></o:p></p><p class="MsoNormal"><span style="font-size:12.0pt">GDP</span><o:p></o:p></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Glenn D. Price, J.D.<br>Price & Farrington, PLLC<br><i>Attorneys and Counselors at Law </i></span><o:p></o:p></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Parkwood Office Center<br></span><b><span style="font-size:12.0pt;color:#1F497D">2370 130<sup>th</sup> Avenue N.E., Suite 103</span></b><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><br>Bellevue, Washington 98005<br>Phone: 425.451.3583 Fax: 425.522.4818</span><o:p></o:p></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Email: </span><u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:blue"><a href="mailto:glenn@pricefarrington.com">glenn@pricefarrington.com</a></span></u><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy"><br>Home page: <a href="http://www.pricefarrington.com/" title="blocked::http://www.pricefarrington.com/">www.pricefarrington.com</a></span><o:p></o:p></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">Estate, Tax, Retirement and Asset Protection Planning</span><o:p></o:p></p><p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;margin-left:.5in"><span style="font-size:10.0pt;font-family:"Arial","sans-serif";color:navy">This e-mail and any attachment is intended solely for the use of the addressee(s) and is privileged and confidential within the attorney-client privilege. If you have received this e-mail in error, please notify the sender immediately and delete all copies of this e-mail message and any attachment. </span><o:p></o:p></p><p class="MsoNormal" style="margin-left:.5in"><b><i><span style="font-size:10.0pt;color:navy">IRS Circular 230 provides that this message cannot be used to avoid any IRS tax penalties.</span></i></b><o:p></o:p></p><p class="MsoNormal" style="margin-left:.5in"> <o:p></o:p></p><p class="MsoNormal" style="margin-left:.5in"><i><span style="color:navy">No trees have been killed in the sending of this message, but billions of electrons have been horribly inconvenienced.</span></i><o:p></o:p></p><p class="MsoNormal"> <o:p></o:p></p><p class="MsoNormal"> <o:p></o:p></p></div></blockquote><blockquote style="margin-top:5.0pt;margin-bottom:5.0pt"><div><p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Times New Roman","serif"">_______________________________________________<br>WSBAPT mailing list<br><a href="mailto:WSBAPT@lists.wsbarppt.com">WSBAPT@lists.wsbarppt.com</a><br><a href="http://mailman.fsr.com/mailman/listinfo/wsbapt">http://mailman.fsr.com/mailman/listinfo/wsbapt</a><o:p></o:p></span></p></div></blockquote></div></div></blockquote><blockquote type="cite"><div><span>_______________________________________________</span><br><span>WSBAPT mailing list</span><br><span><a href="mailto:WSBAPT@lists.wsbarppt.com">WSBAPT@lists.wsbarppt.com</a></span><br><span><a href="http://mailman.fsr.com/mailman/listinfo/wsbapt">http://mailman.fsr.com/mailman/listinfo/wsbapt</a></span></div></blockquote></body></html>