Bringing up the topic of a prenuptial agreement with your spouse-to-be might feel difficult. However, signing a prenup can be worth it, especially if you want your children to inherit from you.
Wills and trusts are important estate documents that help you realize your inheritance wishes for your family. Still, you may need a prenup for specific actions to help complete your estate plans.
Designate separate property
A prenuptial agreement permits you to name specific property as separate property. This means a judge cannot divide it with your spouse if the two of you get a divorce. As an added step, your prenup may name certain assets for your children to inherit.
Keep in mind that you can protect your business with a prenup as well. If you want your children to inherit your enterprise, your prenuptial agreement could help you realize your goal.
Protect children from previous marriage
Given that many people marry for a second time, it is possible you already have children from a prior relationship. If so, you should be sure that divorcing your second spouse does not deprive your children of any property you want them to have.
If you have signed a prenup without protection provisions, it is possible to compose a postnuptial agreement that designates the property your children should have. You might also consider this option if you reap a sudden windfall during your marriage and want to increase the inheritance of your children.
Even if a prenup seems like an awkward subject, it does not have to be. Your future spouse could have inheritance concerns about the children you will have together. The two of you may realize that a prenup could be to the benefit of your entire family.