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My point is/was, practicality may not overrule the emotional aspects and we can all "what if" to death a major decision like remarriage after a certain age. If legal considerations and finances were prevalent factors for most there would be few marriages at any age and probably even fewer children.
I don't know about anyone else but I refuse to live in fear of what may or may not ever occur. If it does, I/we will deal with it. In the interim we'll simply enjoy our lives, together!
Well, I for one would never marry someone without every protection to my assets in place. This is a second marriage for me and my husband and I exchanged net worth statements before we married and created new wills shortly after we married.
Marriage is easy to enter into . . . but not so easy to exit gracefully -- or with one's assets intact.
No one gets married with the expectation that it isn't going to work out well. But . . . sometimes it doesn't.
The flip side to people not being able to divorce when they get older, for financial reasons, is people taking a big risk to marry when they get older - specifically, when one partner has far greater assets than the other.
Even with a prenuptial agreement.
If one partner becomes sick, unable to work and without assets, eligibiliity for Medicaid may require spending down a substantial portion of the other partner's assets. The worst case becomes he/she does go into a nursing home, spends down the partner's assets and then dies, leaving him/ her older, poorer, and alone.
Doesn't it make sense that they should just live together as a committed couple without marrying.?
Comments/Thoughts/Opinions?
C
It would truly depend on each couple's situation, I would think. The situations you outlined are not that uncommon! However, I don't think most folks consider how easily they could be put into a poverty or nearly impoverished financial condition b/c of the health of their partner.
My advice to friends (who have asked!!!) is to always consult a financial planner and/or a tax attorney before making this decision to re-marry after age 65. There are financial instruments that would protect wealth. For those who are concerned about their children and inheritance . . . this could be a big issue, too.
I have had folks tell me - well, my vows were "for better or worse" - but my reply to that is . . . why endure the financial "worst" if you can avoid it? It may be romantic for someone to "suffer for love" at age 35 but there is nothing romantic about it at 70.
No one gets married with the expectation that it isn't going to work out well. But . . . sometimes it doesn't.
God knows I'm aware of that!
Quote:
Originally Posted by anifani821
It would truly depend on each couple's situation, I would think. The situations you outlined are not that uncommon! However, I don't think most folks consider how easily they could be put into a poverty or nearly impoverished financial condition b/c of the health of their partner.
My advice to friends (who have asked!!!) is to always consult a financial planner and/or a tax attorney before making this decision to re-marry after age 65. There are financial instruments that would protect wealth. For those who are concerned about their children and inheritance . . . this could be a big issue, too.
I have had folks tell me - well, my vows were "for better or worse" - but my reply to that is . . . why endure the financial "worst" if you can avoid it? It may be romantic for someone to "suffer for love" at age 35 but there is nothing romantic about it at 70.
At age 70 I would agree. At age 50, not so much. But if it's any help, if this marriage comes a cropper I promise not to remarry at 70 (right around the corner) or anytime later.
At age 70 I would agree. At age 50, not so much. But if it's any help, if this marriage comes a cropper I promise not to remarry at 70 (right around the corner) or anytime later.
LOL.
I expect you will enjoy your retirement years very much with your lovely spouse. Getting married at 50 is, indeed, much different than re-marrying at 70. In either case, though, it is a wonderful thing to find someone to journey into the future together.
Most of us, I would think, made much better choices in our later marriages . . . and 50 isn't that old, anyway!
Remarriage after 50 is a greater burden for women because most are younger than their spouse and will be the caretaker in the majority of situations. Yeah his kids will worry about losing their "inheritance" but many are hard to find when Dad needs help when he gets sick.
Women deserve to inherit for their support. Pretty sure Florida law says 2nd spouse is entitled to 1/3 even if they are left out of the will. (I am a first wife lol).
I see very limited reasons why people over 50 would need to get married.
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