Toronto Family Lawyers Advising Clients on Second Marriage Issues
If you have previously been married, there are several important factors you must consider if you are thinking about getting married again. Entering into a second (or subsequent) marriage comes with significant legal and financial risks. For the most part, many of these can be mitigated through careful and proactive planning under the guidance of a highly knowledgeable family lawyer.
At Baker & Company, we have more than 30 years of experience advising clients on second or multiple marriages. We will explain all possible risks you face, outline your options, and help you put agreements in place to prevent potential future disputes. In all cases, we seek to represent your best interests and achieve the optimal result at the lowest possible cost.
Whether you are simply thinking about a second (or subsequent) marriage, or you are already married for the second (or subsequent) time, the highly knowledgeable Toronto family lawyers at Baker & Company can help you to protect yourself and any children you may have from previous relationships.
We are known for being the firm that handles the “complicated stuff”. We do not shy away from the most complex of legal scenarios and regularly help clients through their most thorny and muddled issues, including issues that arise in second or subsequent marriages.
There are a number of issues to consider before remarrying. For instance, if you are paying spousal support to your former spouse, it is possible that your payments may increase as a result of your second marriage (if you are considered to have additional income due to shared expenses with your new spouse).
From an estate planning perspective, a second marriage will revoke any wills you may have previously made. This will ultimately impact any children you may have from your first marriage as they will not be provided for until you draft a new, updated will reflecting your new circumstances. Other important estate planning documents must also be updated.
A marriage contract (i.e. prenuptial agreement) with your new spouse can be an effective way to protect your assets and rights in a second marriage. This can even be entered into after your second marriage and does not need to be drafted before the marriage takes place.
At Baker & Company, we can advise on a variety of matters that arise in second or multiple marriages including:
We rely on our in-depth knowledge and experience across various practice areas including family law, wills & estates law, and corporate & commercial law to provide multi-faceted and highly pragmatic advice that will help you address any and all potential risks involved in re-marriage.
If you are separating for a second (or third or fourth) time, you will be facing a number of distinctive challenges and financial risks.
For instance, your financial obligations towards your first spouse, and any financial calculations that were undertaken during your first divorce may have an impact on your second divorce, and vice-versa. These risks can be managed through careful planning and consultation with a knowledgeable divorce lawyer who understands the specific legal and financial implications of second (or subsequent) divorces and can advise you accordingly.
It is also critical to know that any legal advice you may have received during your first separation and divorce will not apply to your second separation and divorce. You will need to consult with a family lawyer again to carefully discuss your new circumstances, understand any potential risks, and take proactive steps to address those risks.
At Baker & Company, our Toronto family lawyers advise clients on some of their biggest life decisions, including second or subsequent marriage. We provide pragmatic and proactive guidance and risk management. For more than three decades we have represented clients in Toronto and throughout the GTA. Call us at 416-777-0100 or contact us online for a consultation.