Getting Remarried? Consider a Prenuptial Agreement

prenuptial agreement, remarriage, Illinois family law attorneyAs the age at which Americans enter their first marriages continues to rise, each partner is likely to bring more personal history and property to the marriage than those of previous generations. Individuals spend more time as single adults than ever before, often starting careers, buying homes, and investing in various business interests. For many entering marriage for the first time, a prenuptial agreement may be appropriate to help establish what belongs to whom in the event the marriage does not succeed. For those entering a subsequent marriage, however, a prenuptial agreement may be virtually necessary to account for even more complex personal situations.

Second and Third Marriages

If you are considering remarriage, one of two things have already happened: you have been widowed by the death of a spouse or you have been through the process of divorce. Therefore, you probably have a pretty good understanding of many of the complexities that can present themselves. A prenuptial agreement, as you probably realize, can help remove a great deal of uncertainty through cooperation while the spirit of togetherness is alive and well between you and your soon-to-be spouse. Drafting a prenuptial agreement is not betting against your marriage any more than a life insurance policy equals betting against your life. At some point, your marriage will end, either by divorce or death, and a prenuptial can address both realities.

Concerns for Children

In addition to the increased property that each spouse normally brings to a remarriage, you and your spouse may each have children from your previous marriage. You can use a prenuptial agreement to delineate certain portions of your property to be set aside for your children, regardless of any children you may have with your new spouse. This can allow you to protect their more general inheritance rights, or to simply allocate a particular heirloom or piece of property.

In the event you pay or receive child support for children from a previous marriage, your prenuptial agreement can also designate what funds will be used to make the payments or how the received payments will be used. It is important to remember, however, that a prenuptial agreement is between you and your soon-to-spouse and will not affect your child’s other parent or existing court orders.

Before you walk down the aisle again, it is important to seek legal advice from an experienced family law attorney in Aurora, Illinois. At the Law Office of Matthew M. Williams, P.C., we are prepared to help you draft a prenuptial agreement designed to protect both you and your children no matter what the future may bring. Call [[phone]] for your free consultation today and get the peace of mind you deserve.

 

Sources:

http://www.360financialliteracy.org/Topics/Family-Financial-Planning/Remarriage/Remarriage-and-prenuptial-agreements

http://www.cnbc.com/2015/02/12/remarrying-protect-your-kids-assets-with-an-airtight-prenup.html

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