How can a premarital contract help safeguard against your stepchildren?

Answer: A well-drafted premarital contract can prevent the possibility that your stepchildren inherit from you while your own children receive nothing from your estate. For instance: Let’s say Jack and Jill are getting married and each has a child from a prior marriage. Most married couples arrange their estates so that upon the death of one spouse, everything passes to the surviving spouse. Then, upon the death of the surviving spouse, the estate is divided among the children. However, if Jack passes away and Jill remarries before her demise or alters her estate plan, Jack’s child may never receive a portion of Jack’s estate, even assets Jack may have owned prior to marrying Jill. Meanwhile, Jill’s own child (or even new children Jill has with her new spouse) could potentially inherit from Jack’s estate. A strong premarital contract and other estate planning measures can mitigate these risks by providing for Jack’s child in the event he predeceases Jill.