On behalf of Stange Law Firm, PC posted in Family Law on Tuesday, March 15, 2016.
Recent reports suggest that many couples contemplating marriage, including, most likely, some in Missouri, have been previously married to others. Whether a first marriage ended through divorce or by the death of a spouse, anyone entering a new marriage will want to consider important issues regarding legal, financial and estate planning matters. Many experts claim that a prenuptial agreement is key to protecting one’s assets and family for the future.
Though laws vary by state, a spouse typically gains certain rights upon marriage. These rights, depending on the state in which a spouse resides, may include the right to assets or other property when a spouse dies. Furthermore, a spouse will gain the right to be the guardian of the other spouse and/or the right to be supported under state law. Remarrying after a spouse’s death can present many legal challenges in these and other areas.
One way to avoid potential stress further down the line is to sign a prenuptial agreement. It is particularly advisable to those who plan on passing ownership of a business or home on to children from a previous marriage. It is not always legally enforceable to rely on oral agreements in such circumstances.
Some in Missouri may be among those who believe a prenuptial agreement is only necessary if one possesses great material riches. There is much evidence to suggest otherwise, however. No matter one’s level of wealth, properly signed waivers are often critical to protecting assets intended for children of a prior marriage. Anyone with questions about the issue can seek guidance through consultation with an experienced family law attorney.
Source: USA Today, “Getting remarried? Get a financial plan first“, Robert Powell, March 12, 2016