Finding love at an older age can come as a wonderful surprise. Whether you have had previous marriages or this is your first, getting married later in life is great. Too often, though, this comes with the misconception that the marriage will be impervious to any of the pitfalls younger couples might face. As such, older couples might be tempted to forgo a prenuptial agreement and simply get married.
There are several reasons, though, why older couples need prenuptial agreements just as much as their younger counterparts; they might even need it more than younger people. Keep the following facts in mind if you are about to get married and are at retirement age or older:
You have more assets
Most people in their 50s and 60s have more money and assets than those in their 20s and 30s. It is odd, then, that the former group might be more hesitant to sign a prenuptial agreement than the latter. Ultimately, when you are older, you have more to protect, so it makes sense that you should take the steps necessary to safeguard it. Do not overlook the importance of protecting assets as you enter marriage.
You each have established lives
Protecting your assets is not the only benefit of a prenup. You and your spouse-to-be are likely at the point where you have established your lives and accumulated separate possessions. A prenuptial agreement can help establish which of these belong to each spouse so that there is no potential for confusion down the line. This can help you protect your respective lives and identities, too.
Your marriage is still vulnerable
Just because you are older does not mean that your marriage is any less vulnerable. In fact, marriages after your first are more likely to result in separation and divorce. This can mean that older couples are even more vulnerable to the pitfalls of marriage. As such, you should take special care to protect yourself and ensure that you are not left in a bad situation because you failed to plan ahead with a prenup.