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When two families join together, it normally seems that everything has a financial implication, starting with where everyone will live all the way through to who will pay for college tuitions of the kids. If you have not already had a serious discussion regarding blended family finances, you ought to, as soon as possible. When you and your new blended family partner contemplate forming a blended family, you can reasonably expect that visitation and extra-curricular activity schedules will dominate many of your conversations and your day to day plans. The challenges do not stop there.
In several blended family situations, this could be a contentious issue. A prenup can go a long way toward reassuring your step kids you will neither squander nor claim their entire inheritance! Many couples shy away from having a prenup, disliking the negative flavor it gives to their remarriage. However, not only does it spell out what each of you owns and can expect if you end up single again, a pre-marriage agreement also lets one spouse waive rights to property, such as a family camp or a savings account which the other spouse wants to preserve for his or her biological kids.