Finding love after a divorce can be a truly wonderful experience. However, as most people already know, retirement can take a hard hit during that first divorce, sometimes making it feel more difficult for that second marriage to truly succeed. In order to fully protect retirement, West Virginia couples should consider addressing retirement savings, marital assets and property division in a prenuptial agreement before walking down the aisle.
Second marriages usually come with a bit more baggage than the average first marriage. Many people have financial obligations from previous relationships, such as alimony, already-divided assets, child support and more. In some situations, couples might not realize the reality of their retirement situation until the retirement age is right around the corner, and they do not have enough savings.
Open communication is essential for virtually all marriages, but second marriages in particular truly benefit from laying everything out on the table. This is why prenuptial agreements are such a good idea for couples who are getting ready to say “I do” for the second or even third time. Not only does it give them an opportunity to discuss their current financial situation, but creating a prenup also provides invaluable protections during a divorce should it come to that.
Even if it feels like love can overcome all, the reality is that couples in West Virginia get divorced. Dealing with things like retirement during property division is already difficult enough, but the effects can be even more frustrating for those who are ending their second or third marriages. Using a prenuptial agreement, couples can make sure that they fully understand their financial situation, economic contributions and much more.