Marilyn McWilliams, partner at Moye White LLP, was quoted in an article in the June issue of Consumer Reports Money Digest: “Getting married again?Read this before you tie the knot.”
Love is lovelier the second time around, Frank Sinatra once crooned. But it’s often also more complicated. You may have finally found your soul mate, but you also may be taking the plunge into a more complex financial situation. You may have significant savings, investments, or debt, and if you were hurt financially in a divorce, you’ll probably be wary. And if dependent children or parents are in the picture, combining households is tricky.
So before you finalize the guest list and order the cake, have a good, long talk with your spouse-to-be about money. The conversation can be difficult, but setting the financial terms of your union can minimize misunderstandings or disappointments later on. Here’s a blueprint:
