How Should a Second Marriage Prenup Differ from the First One?

Prenuptial agreements have grown in popularity in recent years. Although most people associate prenups with rich people, any couple can benefit from them, and they are actually more affordable than you may realize. 

You may have already gone through the divorce process once before, and now, you are ready to tie the knot again. Before going through your second marriage, you will likely have different considerations to make than someone marrying for the first time. You should make a prenup, but bear in mind that yours will look different than all your friends’ prenups.

Protect inheritances for any children you have from a previous relationship

You and your former spouse may have had children together. Although you do not get along with your ex, you still want your children to get a good inheritance later. You need to protect your assets now going into a new marriage so your kids still get all the money you want them to have. In the event that this second marriage fails, then you could lose a substantial amount of money that you wanted to give your kids. You need to partake in some estate planning to protect certain assets you do not want your spouse potentially getting later on. 

Look at what your finances will be like without alimony

In the event that you are the spouse receiving alimony, you will lose that secondary income after you marry. In some cases, you could even lose it once you move in with a new partner. Therefore, as you design the prenup for this upcoming marriage, you need to consider your financial state once you lose that money coming in every month. With a prenuptial agreement, you and your future spouse can lay out how you will continue the lifestyle you have become accustomed to even after losing that money. You can move forward in your new relationship with peace of mind.