Prenuptial agreements are used to protect assets in the event of divorce or death. If you’re considering another marriage after going through a divorce, you might be wondering about the effectiveness of a prenuptial agreement. There are a lot more factors to take into account with a second marriage.
Why is a prenuptial agreement important for a second marriage?
When you were planning your first marriage, you probably didn’t need to take kids and high-value assets into account. However, you might go into a second marriage with kids, assets, property, etc. already established.
For this reason, a prenuptial agreement might be even more important for your second marriage than it was for the first. While a prenuptial agreement keeps your assets safe in case of a divorce, it also keeps assets that you plan to pass down to your children safe from your spouse in the event of a divorce or death.
What happens when you don’t have a prenuptial agreement?
If you don’t have a prenuptial agreement with your new spouse, they can become legally entitled to your belongings in the event of divorce or death. For example, if you die and don’t have a prenuptial agreement or estate plan, your spouse could claim the house after your death even if you intended to leave it to someone else.
If you have children, you likely want to leave some things behind for them. That’s why prenuptial agreements exist: to protect your assets and the assets you want to pass down.
Of course, you can leave all of your belongings to your new spouse, but it would be intentional. If you have questions about a prenuptial agreement for your second marriage, reach out to a lawyer.