According to statistical information, 67% of second marriages end in divorce. Because of this, many couples entering a second marriage will decide to create a prenuptial agreement before they wed. There is a lot of controversy over the subject of prenuptial agreements and whether they promote or encourage divorces; however, many people do not understand exactly what they are for, especially when couples use them for second marriages. If you are getting married for the second time, here are several things you should know about prenuptial agreements.
It's Not Protection Only For Divorce
When most people think of prenuptial agreements, they may think of an agreement used for couples who divorce. While this is one use of a prenuptial agreement, it is not the only purpose these documents serve. Prenuptials are also extremely useful for times when people who have children remarry. If you have children, or if your future spouse has children, a prenuptial will protect them financially, and this is the reason you may want to consider getting one.
How A Prenuptial Agreement Will Protect Your Children
Second marriages involving kids have unique challenges you typically do not find as often in first marriages. If you have kids, creating a prenuptial agreement will be vital if you want them to receive any of your assets if you die. If you were to die a year after getting remarried, without a prenuptial agreement, your spouse would automatically inherit everything you own. These assets would then get transferred to your spouse's children when he or she died. To prevent your kids from getting nothing, you should make sure you get a prenuptial agreement that states the following things:
A family law attorney, such as Sanoba Karie L Attorney, can help you determine exactly what the document should state and what should be included on it.
You Could Also Use It To Protect You From Divorce
If you are going to create a prenuptial agreement to protect the children involved, you could also use the document to protect each of the spouses. While you may have no intentions of divorcing and you may never get divorced, it might still be wise to include instructions as to what would happen if your marriage did end in divorce. This could simply mean including a few extra lines that state how assets would be divided if the marriage ends in this way.
If You Are Married Already, It's Not Too Late
If you already got remarried and are just learning how important a prenuptial agreement is for the kids you have, it's not too late to get one made. A prenuptial is made before a marriage takes place; however, you could create a postnuptial agreement if you are already married. A postnuptial agreement is very similar to a prenuptial agreement, and it can include all the same instructions.
A postnuptial agreement is just as valid as a prenuptial agreement; however, it's important to make sure an attorney draws it up. If anything on the document is not legally allowed, there is a greater chance a judge will not uphold the document as a legal and valid contract. A good family attorney will make sure everything is worded properly so this does not happen.
If you are not sure if you need a prenuptial agreement or if you want one, it might be a good idea to consult with an attorney. To learn more, contact a family law attorney in your area today.
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