There are many complicated facets of estate planning that arise when marrying someone in mid-life. Keeping financial secrets and refusing to share your financial history with your partner could set you both up for problems in the future.
Furthermore, a mid-life marriage, including a second or third marriage, requires upfront honesty about both of your individual financial situations and how your marriage can impact your estate planning.
One 2020 creditcards.com survey of over 2500 adults in relationships found that nearly half of respondents were hiding a savings, checking or credit card account from their partner. Up to 57% of millennials, 37% of baby boomers, and 45% of GenX-ers had deceived their partners financially. This form of financial infidelity could be very problematic should the other person find out about it and could add to an increasing layer of complexity.
March 10, 2020 |
There are many complicated facets of estate planning that arise when marrying someone in mid-life. Keeping financial secrets and refusing to share your financial history ...
Learn MoreMarch 9, 2020 |
Do you have an annuity? Is this a financial tool you created for your own future but is something that was ultimately moved out of ...
Learn MoreMarch 3, 2020 |
Getting divorced late in your marriage, such as several decades in, can create significant complications for a retirement planning. One partner might have saved a ...
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The loss of a loved one can be an emotional and overwhelming experience and it can feel very difficult to understand what you need to ...
Learn MoreFebruary 27, 2020 |
The picture below was taken at Six Flags Great Adventure on a ride called Kingda Ka. To protect the innocent, I blurred out the faces ...
Learn MoreFebruary 26, 2020 |
It’s very exciting to think about all of the possibilities ahead of you and your family when you have your first child, but in addition ...
Learn MoreFebruary 25, 2020 |
Today, thanks to the multitude of online resources and tools you can find about many different legal processes including estate planning, it’s easy to feel ...
Learn MoreFebruary 24, 2020 |
It’s the perfect time of year to incorporate your estate planning into the bigger picture. Estate planning requires a team approach and communication with all ...
Learn MoreFebruary 19, 2020 |
If your loved one was recently diagnosed with dementia, the entire family has plenty of things to think about. It’s hard to determine when things ...
Learn MoreFebruary 18, 2020 |
Attorney Neel Shah was recently featured in a Wall Street Journal article about making decisions to distributing unequally among your children. While the easiest solution ...
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