For some Massachusetts residents, their first marriage may have ended up being more of a learning experience rather than the happily ever after that they had hoped for. It is not unusual for individuals to go through more than one marriage in their lifetime, and as they move into their next marriage, they may take lessons regarding divorce with them. Creating certain documents and discussing finances before marriage could help with property division should another divorce come about.
Finances are something that parties should be open about if they are considering remarriage. If a person has been married before, it is not unlikely that he or she faced significant financial issues during the separation. Therefore, expressing any concerns regarding the financial situation could help cut off future arguments as well as possibly explain the desire for a prenuptial agreement.
A prenuptial agreement can help create terms about certain financial aspects, such as alimony, and also help protect certain property and funds in the event of a divorce. If an individual has children from a previous marriage, a prenuptial agreement can help ensure that any inheritances would not be significantly impacted in the event of another divorce. These agreements can be beneficial for all parties involved, especially should property division proceedings come about.
Property division can be a point of contention, and if a marriage does not end on good terms, some individuals may wish to gain as much property as they can. However, a prenuptial agreement and financial discussions could help lessen the likelihood of either party being taken advantage of or losing their fair share. If a Massachusetts couple would like to better protect themselves for a possible divorce, information on creating these documents could help.
Source: valdostatoday.com, “5 Critical Financial Issues in Remarriages“, Stacy Bush, July 28, 2014