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Second can marriages still end in divorce, prenups can help

Second marriages are not uncommon in New York. For many couples they present an opportunity to do things differently than the first time around, including planning for the possibility of divorce. Prenuptial agreements can be especially helpful for second marriages, when individuals tend to be older and more established in their careers with much more to lose.

Even after going through a previous divorce, heading into a second or perhaps even third marriage later in life can mean that much more is at stake. Savings accounts, homes, investments and other financial interests often come into play during asset division. Wanting to protect those assets is an understandable desire and one that can be readily addressed.

Most prenuptial agreements start off with an open discussion regarding finances. This has the added benefit of helping partners become better acquainted with each other's financial status even before marriage. Still, simply being familiar with a partner's finances does not negate the many benefits provided by a prenup. A carefully worded agreement can head off property division problems before they even have a chance to arise.

Couples who failed to create a prenup before walking down the aisle are not out of luck when it comes to creating an agreement that can prevent issues during divorce. Some people in New York have found that postnuptial agreements can be extremely helpful during divorce. While addressing the possibility of a marriage ending before it even begins can be somewhat off-putting to some, it can ultimately provide the best possible protection for individuals with assets to protect.

Source: chroniclejournal.com, "Financial considerations before a second marriage", Murray Becotte, Sept. 12, 2016

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