Everyone is hopeful and optimistic when they are getting married. At the same time, we live in a society where divorce is very common.
Young childless people who are getting married for the first time without a lot of possessions may not see much reason to enter into a prenuptial agreement. They may well be correct in this assumption. Should certain circumstances arise it is possible to enter into a post-marital agreement.
On the other hand, let’s look at second and third marriages. By the time you decide to get married for a second or third time you may well have children. And, you may have had the time to accumulate a significant store of financial assets.
Should you consider entering into a prenuptial agreement?
One piece of information that you may want to have in hand as you are making this decision would be the divorce rate for second and third marriages. An informative article has been published on the Psychology Today website probing the subject. According to this piece 67% of second marriages don’t last, and 73% of third marriages terminate via divorce proceedings.
Given these percentages it would seem as though entering into a prenuptial agreement would be the prudent course of action if you want to protect yourself.
And then there is the matter of protecting your children from previous marriages. Even if you defy the odds and your second or third marriage lasts, if your property became community property and your spouse inherited everything he or she may not provide adequately for your children.