That quoted provision appears to be a mistake (or misquoted). It would essentially render the prenup meaningless.

In reference to a previous question re: asking to have a settlement check signed to another person

The nature of the cause-of-action for the settlement is important to consider. For example, settlements in personal injury matters are not taxable...

Reviewing Contracts

Transactional attorney. Business, commercial...

Is currency loss deductible if I am not a forex trader? I have held foreign currency accounts because I have lived abroad.

Because you are not engaged in the business of currency trading it is a capital loss and subject to capital loss rules. It is not a deduction from...

What do I do for my estate plan?

You're thinking correctly. Listing a trusted beneficiary as co-owner on bank accounts and deeds is a good first step.