If you have children from a previous relationship, you may be wondering how your upcoming nuptials may impact them. While you expect your marriage to last a lifetime, you know that the unexpected sometimes happens.
It’s important to set up safeguards to protect yourself and your children.
Making the transition to a blended family
A prenuptial agreement is an important document for ensuring the financial stability and security of your children from a previous relationship and any children you and your new spouse may have together. When discussing a prenuptial agreement, here are some things you should consider:
Education: The agreement should outline who will be responsible for the children’s education, including extra-curricular activities, sports, private school tuition and college expenses.
Inheritance: California does not allow you to leave your spouse with no provisions if you die; however, a prenuptial agreement may override that law.
Trust funds: If you plan to create trust funds for your children, you can include them in your agreement.
Previous assets: You can specify that all assets and property acquired before your marriage should go to your children if you die while still married.
Family items: You can include in the prenup any heirlooms, property, business or future inheritance that you wish to keep in the family.
There are certain things you can not legally include in your prenuptial agreement, such as child custody and child support. Those issues are decided by the court.
Discussing a prenuptial agreement with your future spouse may seem like a difficult conversation to begin. You may feel that you are dooming your marriage before it even starts. But it’s a necessary step for ensuring that your children are provided for in the event of divorce or death.