You weren’t sure it would happen again and in truth, you weren’t even looking for it. But here you are–you found the love of your life and you are getting married again.
It may not quite be “The Brady Bunch,” but you will have a blended family. Your divorce wasn’t easy and you never anticipate going through that again, but you do have individual assets and you want to be certain they go to your respective kids. How can you ensure that everyone’s financial future is as stable as possible?
The other marriage document
In addition to your marriage license, another essential document to prepare before the wedding is a prenuptial agreement. In it, you can codify just about anything you want–from what is and is not marital property to who gets the family pet should you split.
But the bigger benefit of a pre-nup is not just the chance to designate separate ownership, but also the opportunity to discuss subjects that many couples find difficult.
For example, money is one the most contentious areas in a marriage and one of the most difficult to navigate. Often it comes with much emotion attached to it–you’re a spender but your spouse is a saver. This can create some polarizing dynamics.
Protecting assets and good communication
By sitting down before the wedding and deciding how money should be spent, how it should be invested and what your priorities are, you can create a blueprint for future financial discussions. Similarly, a prenup is helpful for creating parameters around property that you currently own–a car or vacation home–and agreeing who will finance repairs and whether the costs come out of marital or non-marital funds.
Finally, a prenup agreement ensures designation of non-marital property and assets so that, in the event of a divorce, you can be certain your children’s fiscal well-being is protected.
Creating a prenup together engenders good communication, facilitates trust and forges a happy marriage now-and well into the future.
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John Schutz
Partner at John F. Schutz, P.L.
Representing clients exclusively in family law cases for the past 24 years, Mr. Schutz is widely regarded as a marital and family law expert. He is Board Certified in marital and family law by The Florida Bar. As a Fellow of the American Academy of Matrimonial Lawyers (AAML), Mr. Schutz is committed to elevating the standards and improving the practice of family law.
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