In our last post we focused on the decrease in the remarriage rate in the U.S. and how cohabitation is probably playing a large role in why many couples are choosing to stay together without the legal constraints of marriage. However, Missouri couples were also reminded that there are still risks involved when property is owned jointly and children are involved, even if a couple is not married.
It should also be noted that divorce does not deter everyone from marriage. In fact, there are a good number of people who go on to get remarried again. In fact, according to an analysis by the National Center for Family & Marriage Research, almost a third of all marriages in 2010 were remarriages.
When it comes to getting remarried, it can be stressful, especially if the first divorce was rather disastrous. This is why many go the route of having prenuptial agreements before getting married. The idea is that while everything was rather messy the last time — if there is another divorce in the future — they want everything figured out now.
Brent Neiser, the senior director of the National Endowment for Financial Education, said that when it comes to remarriage, couples tend to have a higher level of awareness regarding financial issues since they already went through them before.
For couples who are thinking of getting remarried — or even those getting married for the first time — marriage and divorce can significantly impact one’s financial future. And, while a prenuptial agreement may not sound like the most romantic time, creating a prenuptial agreement gives each partner the chance to put all their financial information out on the table and talk about what matters most to them.
Source: USA Today, “Remarriage rate declining as more opt for cohabitation,” Sharon Jayson, Sept. 12, 2013