Financial Considerations for Second Marriages and Blended Families
Financially Focused Legal Advice for Second Marriages and Blended Families
While second marriages and blended families are increasingly commonplace, there are unique legal implications for these relationships that should be discussed with a qualified family lawyer before you consider walking down the aisle again.
Eli Karp is a family lawyer with a focus on the financial implications of second marriages and blended families. We advise professionals, business owners, and other high-income individuals about safeguarding their assets and protecting themselves and any children from a first marriage.
Co-habitation and prenuptial agreements for second marriages
Many couples considering a second marriage, or entering a co-habitation relationship after an earlier divorce, have more significant assets than younger couples or those who have not previously been divorced. Spouses that have gone through divorce are also more aware of the potential for disputes over assets and property division in the event of a separation.
For these reasons, a co-habitation or prenuptial agreement is essential. These contracts can help to protect each party by addressing important issues in advance, such as setting out how their respective assets will be treated, and expectations for child and spousal support.
Child support and blended families
Often, second marriages create blended families where one, or both, spouses previously had children in an earlier relationship. A couple may subsequently have children together, with step-children living in the same household often being raised together. These relationships can give rise to complex child support issues in the event of a second divorce.
At Financial Litigation, we advise clients about the child support obligations of step-parents, as well as any other legal matters relating to children and second marriages.
Comprehensive family law advice for second marriages and blended families
In a second marriage, many couples seek to protect their assets, and the rights of any children from an earlier relationship. Whether they are considering marriage or simply co-habitation, Financial Litigation advises clients about the legal and financial implications of their relationship. We provide responsive and thoughtful advice that allows professionals, business owners, and other high-income earners to make the best decisions to protect their families and their assets. To schedule an appointment, call 416-769-4107 x1 or contact us online.