Should baby boomers consider using this family law tool?

| Nov 30, 2018 | Family Law |

After divorce, some people in Alabama feel as if they will never be ready to marry again. However these feelings often fade, and many people go on to find a new love and remarry. This is not always a stress-free process though, especially for baby boomers who may have a few extra family law worries on their plate.

By the time people begin to hit 50, 60 and even 70 years old, many have accumulated a significant amount of assets. Even if a person’s home, motor vehicle and retirement assets do not exactly make them rich — particularly if these assets were already divided in a past divorce — protecting them is still important. This is where the prenuptial agreement comes into play. Baby boomers who are close to or are already in retirement can outline all of their separate property in a prenup, ensuring that it is kept out of property division should their subsequent marriage end in divorce.

Marrying later in life also usually means that one or both partners already have children from past relationships. Since providing support to children — even those who are adults — is important, couples can address how they will do so in their prenup. Setting boundaries for financially assisting children and establishing a plan for money management during the marriage are both steps people can take to ensure fewer arguments over finances.

Although attitudes toward prenuptial agreements are shifting, some baby boomers in Alabama may still be struggling with the idea. Indeed, many were taught that a prenup was an indicator of divorce. In reality, it is an important family law planning tool that can both protect people during a divorce, and also help couples start off their marriages with a more open outlook.

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