Why is pre-planning before a second marriage in San Diego an important process? How can the Certified Family Law Specialists at Burke & Domercq work with you to protect your interests as you consider a new marriage?
Remarriage and blended families are much more common these days here in San Diego and across the nation. What legal issues are important to consider before entering into your new marriage?
We’re sure you clearly understand your own heart in the matter concerning the aspects of love, trust and fidelity associated with marriage. You also probably know that marriage is a contract between you and your spouse. Each party owes their partner a powerful legal “fiduciary duty” to act in the other’s best interest (as if acting for one’s self) in an atmosphere of absolute transparency, honesty and candid communication.
However, things may be quite different this time around. Do you have children from your previous marriage? Is it important to you to set aside money or assets specifically for their college or inheritance? How will you provide for them and what happens in the event of your unexpected passing?
Do you have existing retirement accounts? Do either of you own or have an interest in a business or professional practice?
Are there any student loans or other existing debt which is of concern to either of you?
Pre-planning before a second remarriage in San Diego should be a joint experience which generates positive experiences while opening candid conversations about money and assets. The experience can actually strengthen the bond between you and your spouse-to-be while setting a strong course for the future.
If you are pre-planning before a second marriage in San Diego you should absolutely discuss a prenuptial agreement. A prenuptial agreement is not a divorce plan. Quite the contrary, it is a recipe to strengthen the bonds you have with your future spouse and to help to cement an open, candid, transparent atmosphere surrounding two of the greatest challenges in many second and subsequent marriages: money and separate children.
In a first marriage it may be natural to blend everything, financial accounts, investments and assets. As you contemplate a subsequent marriage it is time to give some consideration to the retirement accounts, real estate, investments and savings you have developed along the way.
A prenuptial agreement establishes the separate property and assets you bring to the new union, keeping them outside of the new community estate. Prenuptial agreements help to protect your children while preserving separate assets to provide for their education, care and ultimately their inheritance. They protect the business or professional practice you’ve worked so hard to establish and build.
This will also protect you from anything in your future spouse’s past, and potential credit issues. Co-owned assets can be attached by a spouse’s creditor. “Separate” property can be protected from creditors and collections in many cases.
The experienced family law attorneys at Burke & Domercq invite you to consider a prenuptial agreement as part of your pre-planning before a second marriage in San Diego. A prenuptial agreement is not a predictor of nor an expression of expectation regarding your future marriage. It is an important process which will protect each of your interests and the future you are about to enter into together.
If you are interested in learning more we invite you to review the strong recommendations of our former clients and the legal industry and contact us or call 760-434-3330 to schedule an appointment for a remote or socially distanced consultation with one of our experienced Certified Family Law Specialists.