As divorce rates continue to climb across the country, more people are beginning second, third and even fourth marriages.
A recent Fox Business article points out that each new marriage requires at least as much, if not more, planning as the first marriage, as inheritance becomes a much more important issue.
The news source explains that most experts agree that prenuptial agreements are essential for anyone looking to marry later in life. By signing a prenuptial agreement before the marriage, the couple can ensure that they understand where their assets will ultimately end up if one partner passes away or if the marriage ultimately dissolves.
Additionally, the management of one's estate becomes more complicated after a later-in-life marriage, as more assets have been accumulated over the years, the news source says.
Remarriage also has an effect on Social Security, veterans benefits and pension payments, according to the news source, so prenuptial agreements can help sift through the complicated matters while also ensuring that one's loved ones are cared for after a spouse passes away.