Ohio residents who have been divorced at least one time already and have found a new love can benefit greatly from creating a prenuptial agreement before walking down the aisle again. This may be especially true if one or both of the partners in a new relationship has children from their prior marriages. What are some of the benefits of a prenup for a remarriage?
As CNBC explains, a prenuptial agreement for a couple who is getting remarried can actually function as a valuable means of estate planning. Frequently in a second marriage, people bring their own set of family heirlooms and assets to the union that each spouse’s children may assume they will eventually inherit. If the parents also share these wishes, those should be documented in order to ensure that they will actually be followed.
Another big benefit of a marital contract for remarriages according to bank rate is the ability to discuss important financial matters in detail before a marriage begins. Since financial issues are common pain points in many marriages, this may actually give the couple an advantage in making their marriage successful. One element to be discussed is any previous financial commitments related to the earlier marriages such as child support or spousal support. These types of obligations may actually warrant couples choosing to keep some if not all of their finances separate even once they are married.
Looking forward, couples should also use the prenup planning process to determine how they will financially support their children as they grow and go to college, get married and more. This may or may not be something they want to jointly fund and a prenup can identify these things.
