How can a prenup help a remarriage?
Colorado residents considering getting married for the second or third time know all too well that life can hand out unforeseen circumstances. Whether a remarriage follows a previous divorce or the death of a prior spouse, people in this situation know that marriages do not always last through to old age.
Knowing this, it is important for people entering into a new marriage to take steps to protect themselves and their families. Remarriages can be wonderful relationships but they can also come with unique baggage, especially in the form of children from prior marriages. This is perhaps one of the biggest reasons for anyone getting remarried to consider a prenuptial agreement.
The prenup, estate planning and family harmony
Smart Stepfamilies confirms that instead of viewing a prenuptial agreement as solely a pre-divorce agreement, partners look at a prenup as a way of outlining what they want to happen when each person dies. It is rare that two spouses die at the same time so there will most commonly be a situation in which one spouse dies first and that person’s assets and debts must be dealt with.
When remarried spouses have children from earlier relationships, it is understandable that they may want to keep some assets separate from their new marriage. This can help to ensure that select items or funds are reserved for each person’s biological or adopted children and grandchildren.
A prenuptial agreement can outline all of these things. It can even indicate if some assets should be allocated to the existing spouse. In addition to reducing angst after a person dies, a prenup may allay fears of family members and allow them to more fully embrace the new marriage.
CNBC urges people considering prenuptial agreements to be as detailed as possible, much like with the development of a will. Any item left out of a prenup is something that can spark an argument down the road and the point of the prenup is in large part to prevent just that.
It is also important that spouses do not create their prenup too close to the date of the wedding. This work should be done well in advance to avoid any potential for coercion to be alleged.
Separate legal representation
When creating a prenuptial agreement, each partner should have individual legal representation. Couples can still work together make joint decisions but the lawyers can help to ensure that each person’s individual interests are appropriately considered and protected.