My 25 year old daughter is engaged to a very nice guy who is quite a bit older than she.
He is asking her to sign a prenup due to his company being family owned. He is agreeable to giving her a life insurance plan in lieu of her having an interest in his business or home. Should I be concerned and should I have an attorney look this thing over?
You should absolutely have an attorney review the agreement and advise your daughter. I am certain she is not being benefited by the agreement and she needs to understand the potentially significant financial rights she is giving up by signing it. I have never recommended that someone in your daughter’s situation sign this type of agreement. At a minimum, she needs to understand what she is signing.
Generally, life insurance provisions in a premarital agreement only apply as long as the parties are still living together and/or are married. She should consider negotiating through her attorney for additional financial benefits in the event of a divorce.
Kenneth T. Demmerle