For many older adults, finding love again after a divorce or the death of a spouse is a beautiful new chapter, but it can also bring financial and legal complexities that are easy to overlook. As remarriage rates among Americans over 65 slowly rise, so do the questions about how to merge lives, assets, and legacies.

Unlike younger couples building wealth together, older newlyweds often bring decades of financial history into the relationship such as retirement accounts, real estate, inheritances, and adult children from prior marriages. All of these factors can make money management and estate planning more complicated the second time around.

One common challenge is deciding how to share expenses. While some couples combine finances entirely, others maintain separate accounts and split costs equitably. These arrangements can evolve over time, but without clear communication and proper legal planning, they may lead to confusion or even disputes down the road.

One of the core issues is finding a balance between supporting and protecting a new spouse while ensuring children from a previous relationship are not unintentionally disinherited. Many people assume assets will pass as intended, but the legal default may surprise them. For instance, retirement accounts often require spousal consent to name another beneficiary. If that step is missed, adult children could be left out entirely.

Tools like prenuptial agreements, life insurance policies, and Trusts to provide clarity and prevent unintended outcomes. A prenuptial agreement, while potentially uncomfortable to discuss, creates a foundation for financial transparency and mutual understanding. It forces couples to ask important questions like: 

• What happens if one spouse dies? 
• Who inherits the house?
• How will each family be cared for?

Trusts, too, can offer a thoughtful solution, especially when large assets like real estate or investment accounts are involved. A Trust can ensure that a surviving spouse is cared for during their lifetime, while preserving an inheritance for the original owner’s children. Life insurance can be used as a separate financial gift to one party’s heirs, helping to equalize inheritances across blended families.

Unfortunately, failure to plan can have lasting consequences. For example, if one partner helps pay for a home but isn’t listed on the deed, they may have no legal claim to stay or benefit from that property after the owner passes away. These kinds of oversights are surprisingly common and often heartbreaking.

And surprisingly enough, in some cases, the best financial decision may be not to remarry at all. Marriage can impact pension and Social Security benefits, or trigger spousal inheritance rules that complicate a person’s intentions for their estate.

If you’re considering remarriage or already navigating a second union, it’s never too late to review your estate plan. A well-designed strategy can make all the difference in ensuring that your legacy, and your relationships, are protected. Contact us today to schedule a consultation!