7 Reasons for a Prenup Before Your Second Marriage
Statistically, second or third marriages are more likely to result in divorce than first-time unions, making a prenuptial agreement an especially wise idea. According to Bankrate.com, you should consider having a prenup if you fall into any of the following categories:
- One of you is wealthier than the other.
- You have assets such as a house, stock or retirement funds.
- You own part or all of a business.
- You may be receiving an inheritance.
- You have relatives who need to be taken care of, such as disabled children or elderly parents.
- You could see a big increase in income because of a growing business.
- You have children and/or grandchildren from a previous marriage.
Gould-Saltman recommends that each partner draw up a list of assets before seeing an attorney familiar with prenuptial agreements and the laws of the state in which you'll be living. Advance planning for how you want to structure your marital finances and assets will save you money.
For professional couples, prenuptial agreements can be the ultimate protection against all-too-common lawsuits or medical malpractice suits, says Gould-Saltman. "You can't foresee everything, and prenups are a means of keeping your assets safe in the event of any financial problems that your spouse may experience."