As second marriages increase throughout the country, many California residents have discovered that tension can build due to finances, particularly when the new spouses have children from prior marriages. Money can be a source of stress for most relationships; however, there are ways to prevent the tension building so much that it hurts the relationship.
One way to prevent these types of issues from popping up later in the marriage is by agreeing to a prenup. While it can be a delicate subject and might seem like the person is thinking about divorcing even before the marriage, a prenup can be used to clearly outline and define which interests will be kept separate, to be inherited by each spouse’s children, and which can be shared. Prenups can also so be used to define if a person wants their money to continue supporting their spouse in case of their death, but then be available to their own children once their spouse dies.
To further strengthen this type of agreement, experts also recommend a post-marital agreement that confirms the provisions of the prenup. Spouses should also update their wills, their beneficiary forms and even their estate plans, to make everything clear and prevent issues later on. When it comes to beneficiary forms, people usually have the freedom to name several beneficiaries and to divide those benefits in a variety of ways.
Planning ahead can prevent many of the complications that can later lead to a divorce. During the planning, or if the relationship does seem like it will end, a lawyer with family law experience can offer guidance and support. The lawyer can explain the legislation regarding each process as well as the options available.