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Prenups, divorce and estate planning all interconnected

Many Texas residents are aware of the recent passing of controversial media mogul Hugh Hefner. The 91-year-old founder of Playboy magazine lived a long life that was largely defined by his drive to create an enduring presence in the publishing world. Many of his personal choices were also called into question over the years. After two previous divorce experiences, Hefner was married to his third wife at the time of his death.

His widow is a model who is six decades his junior. Shortly after their marriage, it was announced that she had signed a prenuptial agreement prior to walking down the aisle. Reports also indicated that she was not added to her husband's will. As a result, there is a great deal of current speculation that she will receive little to nothing from his estate.

It is believed that Hefner's wealth will pass down to his children, a university and multiple charities. One source claims that his widow will be "taken care of." No details have been provided as to how that outcome might be achieved.

When considering a marital contract such as a prenuptial or postnuptial agreement, many Texas residents fail to understand how divorce and estate planning are interconnected. In cases where one or both spouses have children from previous unions, it is important to create a comprehensive structure through which assets will be transferred in the event of one's death. Having a solid prenup in place along with comprehensive estate planning documents can make it far easier to ensure that one's wishes are adhered to in the event of either death or divorce.

Source: ajc.com, "Hugh Hefner's wife, Crystal Harris, signed 'ironclad' prenup, report says", Nicole Moschella, Sept. 28, 2017

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Vernier & Associates, PLLC Vernier & Associates, PLLC

Vernier & Associates, PLLC
2441 High Timbers Drive Suite 110
The Woodlands, TX 77380

Phone: 281-882-3271
Fax: 832-585-0955

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