Sunday, May 30, 2010
In order to properly keep retirement benefits separate, a document must be signed in addition to the prenuptial agreement. Under ERISA, only a spouse can waive rights to the retirement money, so it is important that this document is signed after the wedding.
Prenuptial contracts are on the rise as more people view them as a necessary estate planning tool rather than just preparation for a failed marriage.
See Arden Dale, Stay Ahead of Your Clients - Prenups and Pensions Can Get Snarled, Financial Adviser Blog, May 21, 2010.
Special thanks to Jim Hillhouse (Wealth Counsel) for bringing this to my attention.