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West Dundee, IL847-428-7725
St. Charles, IL630-200-4882
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Why Is a Prenuptial Agreement Important in a Second Marriage?

Posted on in Family Law

Kane County family law attorney prenuptial agreement

A prenuptial agreement is an option for any couple who is planning to get married, but it may not always seem like a necessary step, especially for younger couples who are tying the knot early on in life. However, the benefits of a prenuptial agreement often start to become more clear in cases in which one or both partners are entering their second marriage. If you are planning to remarry, it is at least worth considering a prenuptial agreement before you make your new marriage official.

Benefits of a Prenuptial Agreement When Remarrying

People who are preparing for a second marriage are often doing so later in life, meaning that their circumstances can look very different from those of a couple getting married for the first time. These differences can make a prenuptial agreement helpful in a number of ways, including:

  • Protecting your assets: At the time of your second marriage, you may already have significant assets, including homes and other real estate properties, businesses, investments, and bank accounts, and you may have worked hard to maintain possession of them during your divorce. A prenuptial agreement can clarify which of these properties will remain your personal, non-marital property during your next marriage.

  • Providing for your children: Often, your assets are not only important to you but also to your children from your previous marriage. A prenuptial agreement can help you maintain possession of properties that you wish to pass on to your children either during your lifetime or after your eventual death.

  • Planning for retirement: Second marriages also tend to happen closer to retirement age, which means that you may be more focused on the assets in your retirement accounts so that you can maintain your desired standard of living throughout the rest of your life. Your prenuptial agreement can help you protect these accounts according to your wishes.

  • Discussing finances with your new partner: An additional benefit of a prenuptial agreement is that it gives you the opportunity to talk openly about finances with your new partner before your marriage. This may be especially important if conflict over finances was a factor in your divorce and you wish to avoid a similar situation in your second marriage.

It is important to note that your prenuptial agreement may not be legally enforceable in the event of a divorce if it causes your spouse undue hardship. While it is understandable that you would want to protect your financial interests, an agreement that benefits both spouses often leads to a happier marriage, as well as a smoother divorce in the event that the relationship does not work out.

Contact a Kane County Prenuptial Agreement Lawyer

At the Law Offices of Benedict Schwarz, II PC, we understand that your legal needs are dependent on your personal situation and the current stage of your life, and we are committed to getting to know you so that we can provide the best possible service. As you prepare for your second marriage, contact our dedicated St. Charles family law attorneys at 847-428-7725 to request a free consultation and determine whether a prenuptial agreement is right for you.

 

Sources:

https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&ChapterID=59

https://www.marketwatch.com/story/the-pros-and-cons-of-a-prenup-for-a-second-marriage-2019-02-19

 

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