Why Prenuptial Agreements are Beneficial for Second Marriages
There has been a significant rise in “gray divorces” in the United States—that is, divorces involving people over 50 years old. There are a variety of reasons for this, including an increased life expectancy. But one result of this trend has been people getting married for a second time at an older age.
The prenuptial agreement can be a useful tool for any age, but especially so for people of a more advanced age entering their second marriage. Here’s why.
- More significant assets: Seniors or people nearing their senior years are much more likely to have more significant and valuable assets than younger couples, which they will want to protect with a prenuptial agreement.
- Bequests: People over 50 are likely to have large pieces of property or significant portions of their estate they are going to want to leave behind to their children in their estate plans, and a prenuptial agreement can protect those assets and children’s inheritance.
- Financial obligations: People entering a second marriage are more likely to have some significant financial obligations like child support or alimony, so it is important to account for the financial impact of those obligations right off the bat.
- Financial planning: It can simply be a good idea to get financial information out in the open when entering a second marriage, and a prenuptial agreement is a good way of doing so.
For more information about the benefits of prenuptial agreements, contact a trusted Long Island divorce lawyer at Bryan L. Salamone & Associates.