With summer wedding season here, a growing number of couples are adding to their pre-marriage to-do lists a visit to their attorneys to have a prenuptial agreement put in place. A “prenup” is a legally binding document that lays out certain parameters and terms regarding a couple’s assets and finances should their marriage end in divorce. Considered a “life insurance” of sorts for marriage, prenuptial agreements are now viewed as a sensible choice for soon-to-be married couples, especially given the changing demographics of marriage in New Jersey and across the U.S.
In the past, it was common for couples to wed in their early 20s, an age when neither party tended to enter marriage with substantial assets. In today’s word, many couples are in their 30s or 40s or beyond when they finally walk down the aisle for the first time — and growing numbers of older couples are entering into their second marriage or more. In these marriages, one or both spouses may already have a number of significant assets to their name, including a home, business interests, retirement plans, and their own stock portfolio. They may also have children from previous marriage or relationships.
Are you entering into a second marriage and wondering what a prenup can do for you? Consider these seven ways premarital agreements can offer special protections for older brides and grooms. Read more