Getting married is an exciting and magical experience, but those who are ready to tie the knot for the second time around may understand just how important it is to be prepared. Prenuptial agreements can be especially helpful in this regard. Not only have these individuals already dealt with property division before, but they also understand that divorce is a reality even for the seemingly happiest of California couples.
Remarrying after age 40, 50 or even 60 usually involves significantly more assets than marrying for the first time at the age of 25. Individuals usually have real estate, motor vehicles, retirement savings, investments and more that they want to protect. Some also want to ensure that their assets are protected so that children from a prior relationship can still receive their intended inheritances. Prenups can even give couples the opportunity to address important topics that will come out throughout the course of their marriages.
If a soon-to-be-remarried couple is close to retirement, they can create a plan for retirement withdrawals in their prenuptial agreement. This is especially helpful if one spouse has much more saved for retirement than the other party. Couples can also address a particularly tricky subject for those either close to retirement or already in it — marital property. Since marital property is generally accumulated during a marriage, retirement does not afford couples many opportunities to build and grow their marital assets.
There is often a tremendous focus on divorce later in life, while remarrying tends to be overlooked. However, California couples who are ready to remarry should be aware that they have options to protect themselves, their assets and their interests. A carefully planned prenuptial agreement can address important issues, including property division, retirement and more.