Not Just for the Rich and Famous…

Prenuptial agreements can also provide structure for a second marriage. A properly crafted, written agreement can allow both partners to make clear what property is and shall remain separate, and what things are something that they will build and accumulate together.

With such an agreement, you can set aside assets (or categories of assets) that you want to pass to your heirs when you pass away. Your partner can do the same, for his or her heirs (children, grandchildren, or others). The two of you can also agree how you will divide monthly expenses, and what will happen to assets and debts that you accumulate together.

The process of preparing an antenuptial agreement can be very helpful for a couple. The process involves full disclosure to each other, and ensures that both partners understand and agree to the arrangements they are making. It is a good footing for a couple’s continuing, joint financial lives. And, giving clear definition of your financial commitments to one another, and to the others that are important in your lives, can allow you to put more time and attention into the important things, like living your new life together.