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How prenuptial agreements work in second marriages

On Behalf of | Feb 19, 2019 | Divorce

Arizona residents who are getting married for the second time may have a greater need for a prenuptial agreement. This is because they have retirement accounts, homes and other assets that may need to be protected. Individuals who have children from a previous marriage could also benefit from having a prenuptial agreement. In some cases, it allows couples to put themselves on equal financial footing.

This could be true if both parties to the marriage are retired and accumulate little or no marital property. The prenuptial agreement may call for the spouse with fewer assets to receive alimony or other assistance from the spouse with greater resources. An agreement reached before a wedding takes place could also determine which retirement account would be used to support a couple when they stop working.

It is important that a prenuptial agreement is not seen purely as a business transaction. This can cause friction in a relationship and even cause it to come to an end. Ideally, the agreement will be a means to help both parties learn to communicate and create a relationship built on trust and equitable division of assets. Furthermore, creating such an agreement can make a divorce itself easier on all parties involved.

A person getting a divorce may experience many different emotions, and they could play a role in how a person makes decisions during that process. However, a prenuptial agreement may make it easier to get a divorce in a civil and timely manner. This is because the terms will be negotiated while both sides are calm and willing to work together. Of course, each party should have separate counsel during the process.

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