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Recent Posts
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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What Does the IRS’s recruiting efforts mean for taxpayers?

The IRS’s recent intensification in recruitment to address wealthy taxpayers is raising eyebrows among high-net-worth ...

The post What Does the IRS’s recruiting efforts mean for taxpayers? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim

Estate planning for business owners, particularly those known for impulsive decision-making, requires a nuanced approach. ...

The post Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

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Don’t Keep Financial Secrets from Your New Mid-Life Partner

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.

When joining your finances with a mid-life partner, consider a discussion with a CPA and other financial professionals. 

If you already have retirement accounts and estate planning details set up for you personally, this information should be discussed with your new spouse. It’s a different strategy to go from creating all of this information on your own to reflect your individual needs to moving it over to combined finances and estate planning.

Updating all of your key documents, including your beneficiary designation forms, should come at the top of your priority list.

If you’re stuck on how to get started and need more advice, set up a time to speak with a trusted estate planning lawyer who can guide you through which parts of your estate plan need to be updated and how to consider some of the complexities of combining interests and finances in a later-in-life marriage.      

Schedule your free Exploratory phone call

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can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
What Did We Learn about Investments in 2023?

Reflecting on the tumultuous investment landscape of 2023, Buckingham Strategic Partners distilled invaluable insights into their “Top 10 Investment Lessons of 2023.” ...

The post What Did We Learn about Investments in 2023? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
What Does the IRS’s recruiting efforts mean for taxpayers?

The IRS’s recent intensification in recruitment to address wealthy taxpayers is raising eyebrows among high-net-worth ...

The post What Does the IRS’s recruiting efforts mean for taxpayers? first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more
Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim

Estate planning for business owners, particularly those known for impulsive decision-making, requires a nuanced approach. ...

The post Entrepreneur Estate Plans For Those Who Choose To 1) Ready, 2) Fire, THEN 3) Aim first appeared on Integrated Tax Planning, Legal Planning & Financial Planning.

See more