If you’re considering remarrying after a divorce and have children from your first marriage, you should consider a prenuptial agreement to protect your children.
One of the most important things that a prenuptial agreement does is outline what assets are separate property and what assets are marital. This distinction can help to prevent disputes in the future, which can protect the inheritance rights of your children. Without having the prenuptial agreement in place, a new marriage may unintentionally change how an estate is divided if you pass away. These intestate laws may not consider your previous marriage and children from that marriage, making a clear plan for your assets necessary.
How can you protect your children?
There are many factors to consider when you’re creating the prenuptial agreement, but if you have children from a first marriage this should be a priority. It’s best to have a detailed prenuptial agreement that covers important assets, even if they don’t have monetary value. Think about family heirlooms, investments and real estate. As you’re doing this, outline how income or growth on the covered assets will be handled during the marriage and if the marriage ends.
You can also consider life insurance policies and retirement accounts. Double-check the beneficiary designations to ensure that your children will be taken care of if something happens to you.
Prenuptial agreements can also address spousal support and debt responsibilities. These decisions may help to protect assets that should go to your children from being negatively impacted if the marriage ends or you pass away.
Prenuptial agreements offer important protections to you and your future spouse. When you’re future marriage involves children from a former relationship, it is advised to speak with knowledgable prenuptial agreement attorneys to understand how your kids might be impacted by the new marriage.