Preparing For Life In A Blended Family

There may be many financial issues that North Carolina divorced parents who are remarrying have to think about when combining their families. Parents who may have more money or may be bringing more assets into the marriage may need to figure out how to use those resources in a fair manner. In some cases, those assets may have been meant to provide for that person’s biological child. However, it may not be fair to ignore the needs of a new spouse’s biological child.

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A prenuptial agreement may help parents creating a blended family avoid financial issues both now and in the future. One of the best reasons to consider such an agreement is that full disclosure is required when creating the document. This means that both sides fully understand how much money the household brings in, what its debt load may be and what will happen to assets being brought into the marriage.

It may also be a good idea to talk about how to handle future expenses such as a car or college for the kids. Parents should also consider whether their children will be asked to contribute to some or all of the cost of their education. Finally, it may be worthwhile to decide now how much of a priority saving money for retirement or other long-term goals may be.

Child custody, spousal support and property division issues may be complicated matters to resolve even in an amicable divorce. Such issues may be even tougher to resolve after divorcing for a second or third time. Creating a prenuptial agreement may make it easier for people to protect assets brought into the marriage. This may make it easier to ensure that they are available for their children or for other causes if the marriage ends.