Protecting Your Assets in a Second Marriage

 Posted on March 22, 2019 in Prenuptial and Postnuptial Agreements

People do not typically marry with the intention of one day divorcing, but those who have already experienced a failed marriage may be even more adamant to grow old with their new partner. Sadly, the risk of divorce is significantly higher for subsequent marriages. As such, it is highly recommended that parties take proactive steps to protect their assets in a second marriage. Learn more about how a prenuptial agreement can help you do this, and discover how our seasoned family law attorneys can help.

Know Your Wealth and Assets

Just as it is critical to know your wealth and assets in a divorce, you should know them going into a marriage. Not only does this give you a base to work from in the event of a divorce, but it also enables you to effectively and proactively protect your wealth, long before a divorce occurs.

Never Enter a Second Marriage Without a Prenuptial Agreement

If you did not sign a prenuptial agreement before your first marriage, it is likely you know just how messy dividing assets in a divorce can be. When you add in the fact that may divorcees also have children from their previous marriage, perhaps even child support and spousal support obligations, the importance of protecting one’s assets in a second marriage becomes even more crucial. One of the most effective ways to do this is to ensure you have a sound and concise prenuptial agreement before you marry a second time.

Start Discussing Your Prenuptial Agreement Early

Discussing a prenuptial agreement with your intended spouse may not seem like the most romantic way to move forward with your wedding plans. Yet, this early discussion could be critical in the event of a divorce. Not only does this give you more time to work out all the details, but it also decreases the chances that your agreement will be discredited by the courts. Still uncertain of how to broach the subject? Many parties use their prenuptial agreement as a springboard to discuss their marital financial plans.

Consider Your Other Financial Obligations

When creating a prenuptial agreement for a second marriage, it is critical that parties consider more than just their wealth. Other financial obligations, such as child support, alimony, and even college tuitions and inheritances for adult children should also be protected.

Contact Our DuPage County Family Law Attorneys

Prenuptial agreements are legal documents, so it is critical that every element of it is carefully crafted. Davi Law Group, LLC is one of the most trusted family law firms in the state, and we can help protect your wealth and financial freedom. Call 630-657-5052 and schedule your personalized consultation with our Wheaton prenuptial agreement lawyers today.

Source:

https://www.forbes.com/sites/ericbrotman/2019/03/26/financial-considerations-for-the-future-getting-married/#f24fc0e4130b