Premarital Agreements: Head vs. Heart

When you are serious about having your financial affairs in order for your own well-being and that of your children you may have to balance matters of the head versus matters of the heart.

Let’s say that you were married for 25 years and you have children. You get divorced, and after a while you meet a special someone and you decide that you may want to get remarried.

It may not be easy to pop the question with an engagement ring in one hand and a premarital agreement in the other.

At the same time, you would do well to understand something about second marriages. Around 67% of them end in divorce someday.

You may insist that your relationship is different. Perhaps it is, but the people comprising this 67% probably had similar thoughts before things went awry.

Even if you want to take the chance, what about the inheritances that you have planned for your children? If the marriage did not last and your ex-spouse walked away with a considerable portion of your resources your children would be paying part of this price.

Another thing to consider is the possibility of predeceasing your new spouse even if the marriage lasts. If he or she inherits everything, where does that leave your children?

If you take the correct legal steps you can protect yourself while you make sure that everyone you love is provided for after you pass away. On the other hand, if you go forward simply hoping for the best you may be taking a considerable risk.