Anyone in New Jersey who is considering a second or subsequent wedding after a divorce will likely have many concerns. Most people expect the best from a subsequent marriage, but plan appropriately for the possibility of another divorce. It is crucial to avoid previous mistakes, especially those that only became evident during the division of assets in the divorce.
Communication and financial transparency are essential from the onset, even before saying, “I do.” Disclose all information about debts, assets, financial support for a child with special needs, spousal and child support, retirement plans and more. Discuss assets that will be brought into the marriage by both spouses, and whether some or all of those will be kept separate or joined. Will earnings be pooled, or will both spouses keep their separate bank accounts and establish a joint account for household expenses?
Getting a prenuptial agreement signed is typically a good idea. It is typically a sure way to avoid contention and traumatic battles about property division in the event of another divorce. Furthermore, it can be a valuable document if one spouse should become incapacitated or die.
As soon as a remarriage is considered it makes sense to consult with an experienced family law attorney. A New Jersey lawyer can provide valuable advice and assist with the drafting of a prenuptial agreement that will cover all aspects of the division of assets in the event of a divorce. Legal counsel can also guide the client through the tasks of closing old and opening new bank accounts where necessary, and suggest changes to beneficiaries on insurance policies and estate plans.