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What Are the Benefits of a Prenuptial Agreement When Remarrying?

Posted on in Family Law

Oak Brook family law attorney prenuptial agreement

When people get divorced, they may fear that they will never find love again. If you have met someone special after your divorce and intend to get remarried, you are probably excited to make this important commitment to your new partner. However, you may also worry about the possibility of your second marriage ending in divorce. A prenuptial agreement is a legally enforceable contract that protects a spouse’s rights in the event of divorce or death and helps an engaged couple ensure that they are on the same page before tying the knot. An experienced family law attorney can help you draft this legally binding document. 

Advantages of Signing a Prenup Before Your Second Marriage

Prenuptial agreements or “prenups” are often misunderstood. Signing a prenup does not mean that you think your marriage will fail. However, prenuptial agreements do provide a multitude of benefits if a couple does eventually decide to divorce. During the creation of a prenuptial agreement, a couple decides how they want to handle issues related to property or asset division, spousal maintenance, life insurance policies, retirement funds, and estate planning upon divorce or the death of a spouse. Many engaged couples find that creating a prenuptial agreement allows them to discuss money-related issues openly and honestly. Research shows that financial disagreements are the number-one predictor of divorce in the United States. By discussing concerns related to property and debt before getting married, you and your soon-to-be spouse set yourselves up for a happy, successful marriage.  

Addressing Children’s Inheritance Rights

One benefit of prenuptial agreements that is often overlooked is that they allow couples to settle certain inheritance concerns. If you are getting married for a second time, you and your partner may each have children from your first marriages. According to Illinois intestate laws, when a married person passes away, half of his or her assets are transferred to his or her spouse and the other half goes to the deceased person’s children. However, the law does not specify how these assets are divided. A prenuptial agreement can help you ensure that your children and your spouse’s children all receive a fair inheritance. It can also allow you to specify which assets should go to which child so that important family heirlooms are kept in the family.

Contact a Western Springs Prenuptial Agreement Lawyer

Misconceptions about marital agreements prevent many couples from gaining the advantages associated with signing a prenuptial agreement. To learn more about how a prenuptial agreement can benefit you, contact the accomplished legal team at Botti Marinaccio, LTD. Schedule a personalized consultation with an experienced Cook County family law attorney by calling our office today at 630-575-8585.

 

Sources:
https://www.huffpost.com/entry/divorce-study_n_3587811
https://www.forbes.com/sites/nextavenue/2019/02/13/all-about-prenups-for-second-marriages/
https://www.ilga.gov/legislation/ilcs/ilcs3.asp?ActID=2087&

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Botti Marinaccio, LTD.

630-575-8585

2015 Spring Road, Oak Brook, IL 60523

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