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How can prenuptial agreements benefit baby boomers?

On Behalf of | Jun 23, 2021 | marital agreements

While California couples likely do not get married assuming they will end up divorced in the future, it is still prudent to plan for this contingency. Prenuptial agreements allow two parties to come to an agreement on issues related to property division and other financial matters. These can be useful for couples of any age, but they may be particularly beneficial for baby boomers remarrying after a divorce.

More complex finances

Because they are older, baby boomers likely have more complex financial situations. This is especially likely if they are entering second or subsequent marriages. They probably have children and property they wish to protect, and a prenuptial agreement can help them accomplish this.

Older partners may also benefit from discussing what will happen if one of them becomes incapacitated in the future. Drafting a prenuptial agreement allows for important conversations to happen, which is a step that will reduce the chance of complications in the future. It can also provide peace of mind for two people marrying later in life that their financial interests are secure.

Start on the right footing

Baby boomers with more complex financial situations will find prenuptial agreements beneficial as they remarry after a divorce. These contracts will make a possible divorce less complicated and expensive. It also provides protection for assets and property each party is bringing into the marriage. While especially beneficial for individuals who are entering a marriage with wealth and property, these contracts have benefits for California couples of all ages and income levels.