Couples entering into a second or subsequent marriage, or those who already have children, will want to consider using a prenuptial agreement before you get married. Prenuptial agreements can give each spouse the ability to make an estate plan which will remain secure should you later divorce. For instance, through a prenuptial agreement each spouse can choose to waive the right to inherit his or her share of the other spouse’s estate if the other should die. This will allow each to leave an inheritance for their children without worrying that the other spouse will take a portion of the estate.
If you haven’t created a prenuptial agreement, you will need to consult with your attorney. In the meantime, here are several issues you want to think about as you create the prenup.
Consensual, Knowing, and Written
A prenuptial agreement must be entered into by both spouses consensually and without pressure from the other. Both spouses must also understand what they are agreeing to and must disclose to the other all assets, liabilities, and any other issue that may affect the marriage. You must also write your agreement down and make sure that both spouses sign.
Even though not all states require that both spouses consult with an attorney before signing a prenuptial agreement, hiring individual attorneys is always a good idea. When both spouses have an attorney, both can be assured they enter into a fair agreement, and a court will later be assured that the spouses entered into the prenup knowingly.