Today, remarrying after a divorce or the death of a spouse is commonplace, as is getting married or remarried in our senior years. Remarriage brings a different host of issues that need to be addressed than when marrying young or for the first time. Often, each spouse may have children from previous partners, or they may bring a significant amount of assets to the marriage. And, both spouses may have their own plans as to how they want their estate and assets handled.
When remarrying, you and your future partner should discuss the following:
- After the marriage, in whose house will we live? If we purchase a new home, what do we do with the assets from the sale of our other homes?
- What assets are marital property and what assets are personal property?
- What is our plan for long-term care?
- What is the plan if one of us dies, and how do our children receive any inheritances?
Of course, there are many other questions to consider. These issues are serious and should be taken care of before you’re married, as they’re often complex issues that can require legal documents and agreements.
Prenuptial agreements and remarriage
Prenuptial agreements often get a bad rap, especially in television and movies. This stigma can prevent many couples to lose out on the benefits of these protective legal contracts. A prenup can protect you, your children and your family – as well as your heirlooms and legacy – when it comes to joining two families together. It’s also important if you or your future spouse are business owners or are coming into the marriage with a large amount of assets or property (or if one of you is coming into the marriage with a large amount of debt).
A prenuptial agreement is a legal contract between two future spouses, and it lays out guidelines as to how marital property and other issues will be handled during the course of the marriage. Each spouse should have their own attorney in the creation of a prenup and, especially in the case of a remarriage, your prenup should take into account each of your estate plans.
In many cases, couples don’t think about these big picture issues until a major event like a death or divorce occurs – resulting in contentious legal battles. By planning for these in advance with a prenuptial agreement, you can ensure your family is protected.
“Prenup” doesn’t have to be a dirty word. In fact, it can help strengthen your marriage right from the start, and the family law attorneys at Miller Upshaw Family Law, PLLC can help. Talk to us today about how we can help your blended family. Please call 615-391-4200 or use our contact form to schedule a consultation in our Nashville office today.