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Can a prenuptial agreement help my current or future kids?

The practicality of a prenup cannot be ignored. To put it simply: Responsible couples sign prenuptial agreements before they get married. That's because a prenuptial agreement takes into account the possibility of divorce and helps couples prepare for it in advance to prevent the threat of infighting, costly divorce battles and stressful decisions when they are in difficult emotional states.

One area of divorce, however, that couples cannot prepare for in their prenuptial agreement is the area of child custody. Ultimately, any decision or agreement regarding child custody must be negotiated and approved by the parents and then brought before a judge for approval. However, although a prenuptial agreement wouldn't be able to make predetermined decisions regarding child custody, it can help one's children a great deal during the divorce process. Here are two reasons why:

  1. A prenuptial agreement makes divorce less stressful and less likely to end in argument. When parents are less stressed, less angry and calmer, they are going to be better parents to their children and give their children the extra time and attention they need during and after the divorce process.
  2. A prenuptial agreement can protect the future inheritance of children. Parents who have children from previous marriages can prevent the inheritance of their children from being absorbed by a new spouse in the event of an unexpected death.

As one can see, signing a prenuptial agreement could assist children in two very important ways in the event of a divorce. As such, it may behoove many single parents to enter into a prenup if they choose to get married -- not only for the potential financial benefits, but also for the benefit to their children.

Source: US News, "Why Almost Everyone Needs a Prenup," Kimberly Palmer, accessed March 09, 2018

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