You deserve another chance at a happy marriage... just be sure to discuss all aspects of your financial past, present and future with your fiancé. Your financial situation tends to be more complicated, so proceed with caution and don't let love blind your fiscal judgment.
A few things to think about:
- Will either or both of you support children from a previous relationship?
- How does your significant other feel about taking on your debt, alimony or child support payments?
- Are there obligations under a previous divorce decree, including insurance payments or retirement earnings that an ex-spouse is entitled to receive?
- Have you drafted a will naming guardianship for minor children?
- Is there an inheritance or substantial assets to consider?
These are just a few of the potential issues a prenuptial agreement can make sense for couples wanting to legally address these types of financial matters.
Visit our Advanced Planning and Estate Analysis areas for information on estate planning issues. As always, consult with your legal and financial professionals for specific advice.