Getting a second chance at a happy marriage is exciting. Remarrying can come with a lot of joy and happiness. However, there may be certain precautions you want to take before jumping in with both feet.
Pre and postnuptial agreements have been a sort of taboo subject, but they do not have to be. In fact, creating one of these agreements may be necessary, especially in a second marriage.
Why do you need a prenup?
If you have children from a previous marriage, creating a prenup or even a postnup is a good way to protect them and their future. A prenup can protect almost any type of asset you want to pass on to your children. In many cases, a prenup is essentially a part of good estate planning.
Getting remarried can cause all kinds of headaches in your estate plan, but creating a prenup can save you and your future spouse a lot of time in the long run.
How do you do it?
Creating a pre or postnup can be slightly complex and confusing, but it is worth it overall. Fortunately, there are a few rules you can use to make the process more straightforward:
- Have a discussion with your future spouse about all finances and assets, be open about the process
- Negotiate and sign the prenup well before the wedding (if not, a postnup is better than nothing)
- Take care not to intermix your assets after marriage
While you might not want to think about legal matters before your wedding, these precautions help you and your family and protect your future.