Prenups and Second Marriages
Posted on Jun 5, 2014 4:58pm PDT
When it comes to a second marriage, there are many issues that a prenuptial agreement can help resolve. When remarrying, individuals are often bringing a significant amount of separate property, as well as prior spousal and child support obligations. If a fiancé has children from a previous relationship, a prenup could keep inheritances intact. Seniors who are approaching a second or third marriage certainly need to ensure they have a financial plan in place, and that their children will receive a full inheritance.
A prenup is not a sign of distrust. It certainly is not the most romantic thing you could bring up, but if you think about it, the agreement is much like any insurance policy. You never want to utilize it, but you do not want to go without it, just as a precaution. In fact, starting this dialogue on financial issues can prevent problems down the road in the marriage. A prenup does more than delineate separate property from marital property; it can help couples specify how they are going to handle finances in the marriage.
Here are some tips to make the process a little smoother:
- Bring up the idea of a prenuptial agreement as early as possible: As your relationship progresses, a prenup should not come as a surprise, but be something that has already been anticipated and talked over.
- Each retain your own family lawyer: What's the point of creating a prenup if it isn't legally valid? If you each have a family attorney, you may be able to ensure that you don't have an agreement that is lopsided from a legal standpoint, but one that is fair and effective.
- Have a witness for the signing: This means that your prenup really ought to be in writing. Attorneys can be your witnesses.
If you have any further questions about whether or not a prenup is right for you, or how you can start this process, don't hesitate to call a family lawyer today!