Financial Advice for a Second Marriage
Featured in Reviewed, part of the USA TODAY Network
Some things are sweeter the second time around. You’ve met the love of your life and you’re set to be married again! But there are all kinds of financial affairs, some of them complicated, that you’ll need to attend to as you enter your second marriage.
Consider a prenuptial (or postnuptial) agreement
If you have a lot of assets and investments, you may wish to get a prenuptial agreement before your second marriage—or a postnuptial agreement if you’ve already walked down the aisle (again). With such a document, you and your spouse decide the financial terms of a split if you should ever get a divorce. “It’s like insurance. You hope you don’t use it,” says Echo Huang, founder of Echo Wealth Management in Plymouth, Minnesota. “Both parties agree [on] how to divide assets [in the event that they decide to separate].”