Prenuptial agreements can be challenging for couples. Some may feel like it is a plan for the marriage to fail. For someone who had already experienced the financial and emotional stress of divorce, this feeling can be especially acute.
However, a prenup can support a second marriage by providing both parties with the peace of mind of knowing their assets and family members are protected. Here is information you should know about planning a prenup for your second marriage.
Protecting your assets
As time has passed since your first marriage, you and your partner have likely accumulated valuable assets. Creating a prenup for a second marriage can help both of you protect the assets you have worked hard to obtain.
Protecting and providing for your children
When you have children from a previous marriage, your children may have concerns about how the marriage will affect them. This can lead to added stress before and after a second marriage. A prenuptial agreement can reduce this stress by assuring children that their financial interests are protected in the event of a future divorce or if you should die before your spouse.
Retirement and beyond
As you and your partner look toward your new future, you may also be thinking about retirement. A prenuptial agreement can help you agree on what will happen to retirement assets if you divorce.
How prenups can prevent future disputes
When you and your future partner work through the process of a prenuptial agreement, you can talk about asset division while you are in a positive place in your relationship. Often, during a divorce, couples start to get angry and spiteful, making asset division more challenging–and expensive.
Making an agreement before your marriage can reduce the financial and emotional stress of asset division if there is a future divorce.