Compassionate About People. Passionate About The Law.

Prenuptial agreements smart for those planning to remarry

With the U.S. divorce rate hovering close to 50 percent, it stands to reason that many divorcees will at some point, find love again and decide to remarry. Individuals who have previously gone through a divorce, however, often have different expectations and concerns related to a subsequent marriage.

Most individuals who have gone through a divorce don't seek to repeat the event. Most also, however, are realistic about the probability of another marriage ending in divorce and therefore take steps to protect the assets they bring to a second or third marriage.

Individuals who plan to walk down the aisle for the second or third time would be wise to consider numerous financial considerations which include retirement accounts, insurance accounts, taxes, existing debts and estate planning documents.

When it comes to estate planning matters, individuals may want to consider making changes and updates to important estate planning documents such as a will, durable power of attorney and living will. Likewise, updates may be necessary to add a new spouse to insurance policies and as a beneficiary.

In addition to coming with some excess baggage, many individuals who have been married before may have existing debt. Some of these debts may even be related to a past marriage or relationship. Prior to tying the knot, it's wise for couples to discuss how such debts will be handled and paid in the future.

Individuals who were previously married may have suffered a financial blow to their retirement accounts and investments. It's wise, therefore, that these individuals take steps to protect those assets they bring to a subsequent marriage. A prenuptial agreement is often the most effective way to protect pre-marital assets.

New York residents who are planning to give love a second or even third try would be wise to protect their personal, financial and business assets. A divorce attorney who is experienced in handling both prenuptial and postnuptial agreements can provide advice and guidance on how to protect premarital assets.

Source: Ahwatukee Foothills News, "Remarriage may require refocus on financial goals," Joseph B. Ortiz, July 22, 2013

  • Super Layers
  • AV | Martindale-Hubbell lawyer ratings
  • Marquis Who's Who
  • American Bar Association | Defending Liberty Pursuing Justice
  • Phi Alpha Delta Law Fraternity International
  • G
Email Us For A Response

Contact Us For The Answers You Need Attorney Philip A. Greenberg represents clients in New York and New Jersey. To schedule a consultation with Mr. Greenberg, call 646-363-6807 or contact him by e-mail.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Philip A. Greenberg, P.C., Attorneys at Law
10 Park Avenue
Suite 2A
New York, NY 10016

Phone: 646-363-6807
Fax: 212-279-0466
Map & Directions

Philip A. Greenberg, P.C., Attorneys at Law