Marrying again can be a new start, but like your first marriage, it still involves the merging and protection of assets. A prenuptial agreement is worth considering, as it covers more than “who gets what” if you and your future spouse decide to part ways. Learn what benefits a prenup offers when remarrying to help you enter the union feeling extra secure.

Why You Should Create A Prenuptial Agreement When Remarrying

1. To Protect the Inheritance Rights of Children & Grandchildren

Outline what your children and your grandchildren will inherit, if applicable. Make it clear in the prenuptial agreement that these assets are under legal protection, such as in the form of a will or living trust, and cannot be touched by your new spouse. This ensures your family gets what is rightfully theirs in the event of a divorce. In addition to wills and living trusts, you may also want to consider pay on death and transfer on death provisions where assets are immediately transferred to your beneficiaries upon your passing.

2. To Address Marital Funds Regarding Ex-Spouses & Children

Avoid martial fund problems with your ex-spouse and children from that union with a prenup. Without one, half of every dollar going to spousal and child support comes from your future spouse’s marital property. A prenuptial agreement detailing what monies go towards spousal and child support if you and your future spouse split up protects the individual from this marital property issue.

3. To Protect Your Business

Keep your business out of your marriage to make certain it does not become a viable asset if you divorce. Your prenuptial agreement must make it clear that your business and all properties and monies associated with it are not subject to divorce proceedings. It provides a way to keep your assets separate — something plenty of couples with plans to remarry prefer.

4. To Plan for Retirement

Use your prenuptial agreement to plan for retirement since retired couples generally do not amass marital property. Discuss what you will both use as financial support in the event of divorce (such as 401(k)s), as well as who will live in any properties you both acquired throughout your lives and careers. Retirement planning with a prenup also helps you avoid taking on any debts owed by your future spouse, and vice versa.

Create a prenuptial agreement with professional assistance from Brown, Burgoon, & Hartnagel, P.C in Bardonia, NY. Proudly serving Rockland Westchester & Orange counties since 1992, these family court and estate attorneys offer a combined 60 years of experience. Call (845) 624-1966 today to schedule a free consultation or visit the attorneys online for more information about their practice areas.