A: A powerful financial step you can take when getting married for a second time is to do a prenup. Importantly, you are not doing this because you are planning to get divorced again, but rather because you have so many more players at the table now. It’s no longer just the two of you getting married. It’s two families getting married, which could include children from prior marriages.
In the situation of a second marriage, a prenup is really a clear way to plan in advance for how you’ll handle the complexities of melding finances.
The huge benefit of doing this is that it enables everybody to have clarity. Things you may decide are, who will be paying for college if there are kids or if there are eldercare issues, how should that be managed? If someone comes into the marriage with debt, will you share the responsibility of paying it down or not? You should know that debt is an issue that could affect, not just the couple, but kids from a prior marriage.
There are so many more pieces that come into a second marriage. Think of a prenup as a valuable blueprint that will help you move forward in your lifelong commitment to each other – and help your respective families come together in harmony.