It is natural to envision two young adults who have not yet had children walking down the aisle when you think about marriage. The image of a young man asking his beloved to marry him and then handing her a prenuptial agreement along with a ring may seem a little bit out of context. But the reality is that not every marriage involves young couples who have no children who are bringing limited assets into the union.
A very significant percentage of the marriages that take place in the United States ultimately end in divorce. Most people who get divorced remarry someday, and in the majority of these instances one or both of the people getting married have children. For these individuals, premarital agreements can make a lot of sense.
You never know if the marriage will last or when you will pass away, and there are no guarantees regarding what your spouse would do with regard to providing for your children after his or her death. If your assets are your own you can plan your estate as you see fit and you can be certain that your children will benefit from your legacy.
A lot of people don’t realize that you can also enter into a post-marital agreement. If you have an existing premarital agreement you can alter the terms by executing another agreement after marriage. And if you did not have a premarital agreement in place, you can still have a post-marital agreement drawn up dividing community property. This can be an ideal solution when a married couple cannot agree on a shared legacy plan.
These agreements can actually make marriages stronger and assuage concerns on both sides. If you are interested in learning more, simply pick up the phone and get in touch with an experienced estate planning attorney to arrange for a consultation.
- Important Subjects to Discuss with Your Estate Planning Attorney - January 23, 2023
- Planning for the Possibility of Dementia - January 20, 2023
- How to Prepare for Retirement - January 17, 2023