Couples beginning second marriages today face many complex issues that require them to rethink financial plans. For example, it is not uncommon for one or both parties to have offspring from their first marriage. Accordingly, when they consider remarrying, these couples frequently agree upon the need for a prenuptial agreement that will protect them against some of the legal and financial hurdles they faced when dissolving their first marriage.

Although their financial and emotional ties to their previous spouses have generally been severed, frequently both parties want the assets they are bringing to the second marriage to provide a legacy for the offspring of the first one. Vividly aware of the potential for divorce, many of these couples choose to keep totally separate bank accounts and harbor the illusion that by doing so, they are limiting their financial responsibility for their second spouse. Read More »

This article from Genworth Financial’s new Let’s Talk website.

1. How Things Are Now – Is the person you care about already facing challenges that you may not be aware of? Do you have a clear and realistic view of their current daily lives? Do they have any health problems? Are there things that can be done now to make life easier?

2. Option A and Option B – We all need a plan no matter what our age. If there is a crisis, how will this person get help? Who will call you and who will you call? Do you have contact information for relatives, neighbors, friends, doctors, lawyers, and local service providers? Consider creating a telephone checklist in case you need to make calls on anyone’s behalf. It’s a nice-to-have regardless. Read More »