People often associate prenuptial agreements with the protection of assets in the event of a divorce, but these contracts address a wide range of situations, not simply the dissolution of a marriage. They can also safeguard your children’s inheritance in the event of your death after a second marriage.
If a person is married at the time of death, their assets may go solely to their spouse or may be divided between the spouse and any children. If your new spouse decides to claim more than they are legally entitled to, this can create complications for your children.
If you want to make sure that your assets are distributed fairly after your death, a prenuptial agreement is a great supplement to your will and trust. Discuss your case with a qualified divorce lawyer in Montgomery, AL.
Guaranteeing Your Children’s Financial Future
To others, this may seem unnecessary. You’ve recently gotten engaged and know your future spouse will respect your desires about your children’s inheritance. It is always better to double-check your assumptions rather than take any chances. Having a lot of money can cause even the most rational individual to behave selfishly or cruelly. The last thing your kids need is a custody dispute with their stepparent if you pass away.
You should not only specify in your prenuptial agreement what will happen to your assets in the event of a divorce but also what will happen to them in the event of your death. Determine in advance how much you will leave your current spouse and how much you will leave your children.
Advantages of a Detailed and Thorough Prenuptial Agreement
In short, if you and your future spouse are planning to have children from a previous marriage, it is crucial that you have a comprehensive prenuptial agreement in place. Rather than using sample language or pre-made templates, you should consult an attorney before drafting this agreement. Any errors or confusing components could make the agreement null and void, placing your family up for costly and lengthy legal fights.
Your new spouse will know exactly what to expect in the event of a divorce thanks to a well-thought-out prenuptial agreement, and both sets of assets will be safeguarded should something happen to either of you.
A postnuptial agreement is an alternative to this. These contracts are drawn up and signed after the wedding has taken place.