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Prenuptial agreements for a second marriage

Prenuptial agreements are a good idea for someone getting married the first time. They are a great idea for someone entering into a second marriage. This is really important if you are remarrying during your senior years. Protecting assets in a second marriage can be done with a prenuptial agreement even if your new spouse is in the same financial situation as you.

An important tip for couples marrying a second time is to provide each other with full disclosure. Sit down with your spouse and disclose all of your assets and finances. Do so by writing them down on paper. Write down your credit history, assets, debts and any obligations you have from a prior divorce decree.

For the most part, remarrying parties are wealthier when they enter into a second marriage compared to when they originally married. Because of this, they will have more property and more assets to protect. This is where a prenuptial agreement becomes so important. If one or both spouses is still working and earning a high wage, they will want to protect what is earned during the second marriage.

A prenuptial agreement can also help protect your children from a prior marriage when you remarry. The agreement can make it known that you want your property and assets to pass to your child upon your death and not your second spouse. Your new spouse will need to waive his or her rights to your assets in the agreement in order for them to go to your children. If not, the new spouse can stake a claim to a portion of the assets either upon divorce or death.

While preparing a prenuptial agreement, consider looking over your insurance, beneficiaries and the fact that a new marriage means you should write a new will.

Are you marrying for a second time? If so, contact our firm to discuss your financial situation and prepare a prenuptial agreement prior to saying “I do” in Newburgh, New York.

Important Information

COVID-19 (Novel Corona Virus)  Update 3-20-2020

By order of Governor Andrew Cuomo, beginning 3-22-2020, all non-essential business in New York state must close their physical offices in response to the rapid rate of positive reported cases of COVID-19 in New York State.

Although this will impact the in office and in person services that LIT can provide, we will still be working remotely from our homes to serve our existing clients and we will continue to serve the public on a remote basis with any new legal matters for which they may need assistance.

We as a nation have overcome great obstacles in the past and although the challenges that lie ahead of us as community, as a state, and as a nation are great, we will overcome them as our resilience as individuals, as a community and as a nation will allow us to prevail.

May all of you and your loved ones be safe and well .

Larkin, Ingrassia & Tepermayster, LLP

Should you have any questions please feel free to contact us at 845-566-5345

For more information regarding the COVID-19 virus please visit any of the following sites:

Centers for Disease Control and Prevention

NYS Department of Health

Orange County Dept. of Health

Ulster County Dept. of Health

For information and updates regarding court postponements or closings please visit:

NYS Unified Court System

9th Judicial District

3rd Judicial District