Legal Question in Wills and Trusts in Michigan
Prenuptual Agreement Void Living Revocable Trust
My mother and father prepared a Durable Power of Attorney regarding property & financial matters,Revocable Trust,Designation of Patient Advocate, & Last Will and Testament leaving all assets to spouse and dividing between 4 children when spouse is deceased. My mother passed away two years ago (after 54 years of marriage) and my father is getting remarried. We talked him into getting a Prenuptual Agreement and he told us we would split half of his assests upon his death. I was the executor of the estate in the original documents. I believe the new wife will be executor in the Prenuptual Agreement. What is rightfully owed us (the 4 children)? My father has many more assets than the new wife. The new wife has 3 children. Where do we stand and what can we do? Does the Prenuptual Agreement void the previous agreements?
1 Answer from Attorneys
Re: Prenuptual Agreement Void Living Revocable Trust
You indicate that there is a revocable living trust included in the prior planning. The answer to your questions will also depend on the funding of the trust and the provisions contained within it. However, based on your question if I assume that:
1) Your father has 100% of the title and/or beneficial interest in the collective assets (between him and your now deceased mother);
2) Your father is competant to execute a new estate plan and pre-nuptial agreement.
If my assumptions are correct, then his updated planning, including a new estate plan and a pre-nuptial agreement will then control the ultimate disposition of his estate.
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