California residents who decide to get remarried should be aware that there can be financial issues that have to be addressed. This is because people who get remarried tend to have more financial assets than they had the first time they were married. It is also likely that they may have lingering financial complications from a previous marriage. The situation can become even more complex when there are adult children.
People who remarry may feel that they have to balance their commitment to their new spouse with their obligations to their children. They want to make sure that if they die, the assets that they want to be given to their children will not be given to the new spouse.
One way individuals can ensure that their children will inherit their intended assets is to complete both a prenuptial and postnuptial agreement. The legal documents can be used to guarantee that people who remarry are able to gain the financial outcome they desire. They can feel secure knowing what assets they can keep and what assets will be transferred to their children.
A prenuptial agreement can address the assets that are being brought into a new marriage as well as new ones that may be obtained during the marriage. It should clearly detail which assets the two parties will share and which ones will remain separate property belonging to each spouse during and after the marriage.
A family law attorney may advise clients who are remarrying what should be included in their prenuptial or postnuptial agreement. A lawyer may negotiate terms to ensure that clients may be able to retain ownership of certain assets if a divorce occurs or that certain assets will pass to their children if a death occurs.