If you are planning on getting remarried, your next thought may be whether a prenuptial agreement is the right choice. There are many benefits to a prenuptial agreement in any situation and if you are remarrying, it is even more important as you may be coming into the remarriage with children, previous alimony payments, property, etc.
Premarital agreements, which are commonly referred to as prenuptial agreements, or prenups, are a contract that couples enter into before they get married. A well-executed and properly written Florida prenuptial agreement will allow you to outline the terms of the divorce rather than having a judge dictate the outcome.
Each and every prenuptial agreement that is entered into must be in writing and must be signed by both parties to be enforceable. The agreement must be signed voluntarily. What this means is the agreement must be signed absent any fraud, duress, or coercion. The prenuptial agreement must be fair and there must be reasonable disclosure of the other spouse’s financial situation, assets, and debts. This agreement will take effect when the couple eventually marries.
If this is not your first marriage, a prenuptial agreement can be important for many reasons. For starters, it being your second, third, fourth, etc. marriage, that means you went through the whole divorce process one way or another. You are now aware of how difficult the process is and unfortunately for some, how messy things can get depending on your circumstances. Entering into a prenuptial agreement can ensure your next marriage does not go down that same path. It is beneficial to both of you to think about and talk about a prenuptial agreement and how you wish to divide your assets and protect your children in the event of a divorce, while you and your future spouse are amicable.
If either you or your future spouse have children already and one of you are paying child support, a prenuptial agreement can outline how you want these payments to be made out. What this means is you can agree that these payments will be a separate or marital asset. Further, a prenuptial agreement can address additional things unrelated to a divorce such as how you want the distribution of your assets to be in the event of your death, including the distribution of your wealth to your children from a previous marriage.
If you wish to protect your children and their inheritance if applicable to your situation, and you plan to remarry, it may be best to not only speak with a trained family law attorney but also an estate planning attorney. Some things to keep in mind and some possible options are:
1. You Need an Estate Plan in Place.
2. Give the money or assets directly to your children.
3. Create a Trust to Protect your Children’s Inheritance.
4. Beneficiary Designations.
5. Purchase life insurance for your children.