Prenups for Second Marriages: Protecting Assets and Children in Tampa
Getting married a second time is a hopeful act of optimism. Couples have often learned important lessons from previous mistakes and this can lead to a more fulfilling and balanced relationship. People who enter into second marriages often bring with them business interests, retirement accounts, and children.
Although no one wants to get married while thinking of divorce, it is important that couples protect themselves. The divorce rate for second marriages in the United States is much higher than that of first marriages. Due to this, a prenup is an essential piece of protection for couples getting married a second time. Below, our Florida prenuptial agreement attorney outlines what to include in your contract.
Protections for Inheritances for Children from Previous Relationships
One of the most important reasons people should draft a prenup before getting married a second time is to protect the inheritance rights of children from previous relationships. State law in Florida gives spouses many inheritance rights, even if a will or other document disinherits their spouse. A prenup can waive a spouse’s elective share rights and clarify terms for the property that will pass to children instead of the new spouse.
Protecting Separate Property
Many people who get married a second time already own vehicles, homes, businesses, and investment portfolios. Prenups can identify these assets as separate property, which protects them from further claims during divorce. Income from separate property, such as royalties, dividends, or rental income, can also be classified as separate property.
Waiving Alimony
People who enter into a second marriage are often financially independent and so, these prenups often waive alimony entirely.
The courts in Florida generally enforce alimony waivers unless the agreement was signed under duress or the waiver would leave one spouse in severe, foreseeable financial distress.
Addressing Current Support Obligations
If either party already pays child support from a previous relationship, a prenup can address these obligations and clarify that the new spouse is not financially responsible for them. This can protect the new marriage from becoming enmeshed with previous support obligations and ensure transparency about financial obligations right from the beginning.
Retirement Savings
In second marriages, retirement savings often make up a significant portion of the estate. A prenup can clarify who retains separate retirement savings, wave rights to retirement accounts or a pension upon death, acknowledge that each spouse waives any claim to Social Security benefits, and coordinate with beneficiary designations.
Our Prenuptial Agreement Attorney in Florida Can Draft Your Document
Second marriages provide an opportunity for a fresh start, but they also have many legal, financial, and complex family dynamics that must be addressed. One of the most effective ways to do this is to use a prenuptial agreement. At Florida Law Advisers, P.A., our Florida prenuptial agreement attorney can help you identify your goals, tailor your contract to your circumstances, and make sure that your rights are protected under state law. Call us now at 1 (800) 990-7763 or contact us online to schedule a consultation and to get the legal help you need.
Source:
leg.state.fl.us/Statutes/index.cfm?App_mode=Display_Statute&URL=0000-0099/0061/Sections/0061.079.html
