People frequently assume that prenuptial agreements only address divorce when they consider what would happen to their assets if they got a divorce. If you pass away after getting remarried, they can also safeguard your children’s access to your assets.
Usually, the assets of a deceased spouse are divided between the spouse and children or belong only to the spouse. If your new spouse decides to request more benefits than they are allowed to receive, this could complicate matters for your kids.
An effective prenuptial agreement supports your will and trust to ensure that your assets are split relatively after passing.
Proper legal counsel is always advisable for people who need help drafting pre-nuptial agreements or enforcing them during divorce proceedings. Click here to know more!
Protecting your children’s assets
You might question whether this is essential. You are happily engaged and confident that your partner will never attempt to defy your wishes or swindle money from your kids. Regardless of how convinced you are, it never hurts to be certain. Even the most level-headed individual can act selfishly or cruelly when they have access to large sums of money. Your children’s last need after your death is a court battle with their stepparent.
The prenuptial agreement should also describe what would happen to your assets during a divorce and after your death.
You might wish to give your spouse the marital assets and whatever you earned before being married to your spouse and children, or you might want to allocate your money in another way. This is particularly crucial if you run a family firm because protracted disputes over a corporation can damage its reputation and reduce its ability to make money.
Prenuptial Agreement Benefits
When you are getting set to get married again, having a comprehensive prenuptial agreement is crucial for the security of your family. Instead of using prewritten forms or documents for this document, you should consult an attorney. Any discrepancies or ambiguities could result in the agreement being ruled void, putting your family at risk for protracted legal disputes.
When a prenuptial agreement is drafted correctly, both parties’ assets will be protected, as well as their children’s assets if they pass away.
A postnuptial contract is an additional choice. It’s created and executed after your marriage. The strength of a prenuptial agreement outweighs this. Your partner has little incentive to sign.