Remarrying couples may wish to consider prenups

On behalf of Sachin Dwivedi
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When people in Wisconsin decide to marry again after divorce, they may feel as if they have learned many lessons from their previous experiences. Indeed, 40% of all marriages involve partners who have been married at least once in the past. While these lessons may help people avoid mistakes that were problematic in prior relationships, it may be particularly important to keep close track of issues related to finances. For example, older couples may be concerned about the future of their retirement accounts. According to one study, over 66% of people aged 55 to 64 who were previously married have since remarried.

Later marriages often involve two people with more significant assets, a phenomenon that is particularly true for older couples. In addition, there may be ongoing financial obligations linked to each person’s first marriage. Many people who remarry later in life also have children, and people may want to ensure that their kids are protected later on in life. Prenuptial agreements are often considered unromantic, but they can be especially important for people in these circumstances. Not only do they provide a plan in case of divorce, but they also provide a basis for estate planning decisions.

This type of agreement is not only for famous celebrities or the ultra-wealthy. It can help people of any financial means to lay out their assets and make clear which are separate and which are joint. This can include carving out separate assets that each partner wants to pass on to their children.

People who are planning to remarry later in life may wish to make a firm plan for the future; after all, they have often experienced the pain and expense of divorce. A family law attorney may help a spouse-to-be to plan for the future, including negotiating a fair prenuptial agreement.