Family Law Friday, October 4, 2019
More and more couples are finding love a second time. Whether the first relationship ended due to divorce or death of a partner. A recent study by the Pew Research Center finds that the vast majority of individuals over the age 55 find love a second time. 67 percent of these individuals, to be exact.
The high rate of remarriage may be the result of increased life expectancy or increased divorce rates amongst couples once their children leave the family home. In many cases, these new relationships can result in a blended family. A blended family, for the purposes of this post, refers to a family where the partners have children from a previous relationship.
Whatever the reason for the transition out of one relationship and into the next, those starting a blended family can help ease the transition with these tips:
- Get a prenuptial agreement. Do not think of a prenuptial agreement in a negative light. This legal document will protect your children. It can outline property distribution in the event of a divorce and better ensure your children get the assets they deserve. Putting together a prenuptial agreement also forces both parties to have open and candid discussions about their finances. This type of candor can help reduce the risk of financial discord in the future.
- Discuss daily life. Will daily expenses come out of individual or joint accounts? How are household chores split? Take some time to discuss the minutiae of daily life to reduce the risk of conflict after the wedding day.
- Update your estate plan. If you do not already have an estate plan, get one. If you have one, update it. Discuss what assets will go to your children and whether or not you wish to leave behind assets for your new spouse and their children.
Taking these steps can help better ensure a successful marriage.Have questions? Contact a Family Law Attorney to get the answers.