Remarrying? Consider entering into a prenuptial agreement

When a couple decides to marry there are many things that they need to take into consideration. Exactly what those things are will vary depending on a variety of factors including the age of the people marrying, how many times they have been married and whether they have children.

Because generally, older individuals who have children have more to lose financially should a marriage fail, at the very least, these matters should be thoroughly discussed before getting married. It is also a good idea for these individuals to think especially hard about marrying again. It is possible that in the long run, things would be better for them if they just remained in the serious relationship without a legal commitment. A reason for this could be to maintain benefits such as health care coverage or a pension, secured when a previous marriage ended.

For couples who do decide to go ahead and get married, a prenuptial agreement can be used to help protect each party financially should the marriage come to an end. Though not required before marrying, in many cases, it is a good idea for individuals to explore this option. This is particularly true in cases where couples are remarrying as the Forest Institute of Professional Psychology reports that second and third marriages end at the rate of 67 percent and 74 percent, respectively.

Prenuptial agreements can address a wide variety of matters but generally include guidelines about retirement plans and pensions, antiques, cash assets, existing property and the appreciation of assets. Because matters such as these are generally complex it is vital to work with a lawyer who understands how these agreements work.