A prenuptial agreement can save you a lot of money and time should your marriage end. Often called a prenup, this document lays out how your assets and debts will be distributed should your marriage end. It can protect not only your income, but protect you from the debts of your spouse.
No one enters a relationship — be it personal or business — thinking it will fail. However, what happens when it does?
More Americans are now getting married over the age of 65 than ever before. Even though this may be a second or third marriage for many, caregivers should nevertheless be aware of certain aspects that shouldn’t be ignored amidst all the wedding plans and celebrations.
“Gray divorce” — the unfortunately named term for divorce after age 50 — is increasing among baby boomers.
Your dad bequeathed you a generous sum of money on his passing. Those gifted and inherited assets, in many instances, will be considered ‘separate property,’ not marital property. That might mean that they might not be subject to division, if you divorce. However, perhaps you want to backstop that hoped for result to make the protection more likely to stick if your marriage doesn’t work out.
Resist the urge to use your will for vengeance
You may want to consider some financial issues before walking down the aisle again.
Who’s going to inherit on the death of one of the re-marrieds? Will this be the surviving spouse? If so, where will those inherited monies go on the second-to-die’s death?
The early part of the year is often referred to as “divorce season,” since it’s a popular time for couples to part ways. Regardless of when it happens, divorce is a significant time of change for women in many aspects, especially when it comes to their finances and money management.
Louisiana law provides that once a married couple is divorced, the ex-spouse loses all rights under the will, but there are other ways your ex-sposue could inherit your assets.
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