A living trust and a prenuptial agreement serve different purposes, so having one does not necessarily mean you do not need the other.

A living trust is an estate planning tool. It can provide for the management of your assets during your lifetime and explain how those assets should be handled after your death.

A prenuptial agreement addresses financial and property matters between two people who are planning to marry.

For example, someone entering a marriage may already own a home, have investments, own a business, or have children from a previous relationship. Their living trust may already explain what should happen to those assets.

A prenup can address a different set of questions, including how certain property will be treated during the marriage and how financial responsibilities will be handled between the spouses.

The two documents can work together.

This is particularly important for people who created an estate plan before meeting their future spouse. Simply signing a prenuptial agreement does not mean the existing estate plan should be left untouched.

Both should be reviewed together so that the overall plan makes sense.

A prenuptial agreement is not only for wealthy couples. People consider them for many reasons, including existing property, businesses, children from previous relationships, inheritances, or simply a desire to establish clear financial expectations before marriage.

If you already have a living trust and are planning to marry, it is a good time to review the entire plan.

For more information about prenuptial agreements and how they may fit into your planning, visit our new prenuptial agreement page.

FAQs

Is a living trust the same as a prenuptial agreement?

No. A living trust addresses estate planning and the management and distribution of assets. A prenuptial agreement addresses financial and property matters between prospective spouses.

Can I have both a living trust and a prenup?

Yes. The two documents can serve different purposes and can be coordinated as part of an overall plan.

Do I need a prenup if I already have a trust?

Not necessarily, but a living trust does not automatically address every financial and property issue that can arise between spouses.