Blended families begin when two people who already have children meet and fall in love. Those beginning blended families may have lost a spouse or gone through a divorce. Now they have found love again and hope to start a stable family by combining their households.
Statistically, remarriage is a somewhat risky prospect. Second and third marriages are more likely than first marriages to end in divorce. Even those excited about the prospect of new love may hold back out of fear of a painful future divorce. Especially if someone has already experienced divorce once, they may want to avoid the expense and emotional distress that come with litigation. Putting together a prenuptial agreement can be a smart move for engaged couples preparing to start a blended family.
How prenuptial agreements can help blended families
Blended families can derive numerous benefits from the creation of a prenuptial agreement. First and foremost, spouses can clarify their expectations for the relationship. Having a discussion about what each spouse intends to offer the household and what they expect their spouse to provide can help set a couple up for marital success. Couples who put together marital agreements often find that they have more harmonious marriages.
Additionally, a prenuptial agreement makes it very clear what both spouses can anticipate in the event of a divorce. Should the marriage fail, the existing written agreement guides property division matters and possibly even spousal support or alimony it matters. The spouses can look forward to a faster, less acrimonious uncontested divorce.
A prenuptial agreement also helps to protect the inheritance rights of the children of both spouses by designating certain assets as separate property. The need to talk about marital finances and make full disclosures to each other can also improve the stability of a marriage. The more financial conversations that the couple has prior to marriage, the less likely there is to be conflict later that could destroy the blended family unit.
Engaged couples who draft prenuptial agreements can minimize the risk of remarriage while setting themselves up for a better chance of marital success. Learning more about prenuptial agreements could be a smart move for anyone who is recently engaged, especially if they already have children from a prior relationship.