Manage episode 243664548 series 2366549
With 50 percent of marriages ending in divorce, there’s a good chance you or someone you know is going to face the choice later in life to remarry or stay single. Many things will factor into that decision but understanding how your finances will be impacted is a significant part of that discussion. These are the questions you need to be asking.
1:03 – The backstory behind today’s main topic.
4:31 – Here’s the question I was asked last week.
5:40 – These are the initial questions that I asked her to get a grasp on all the assets and expenses.
8:00 – For those that don’t know, I’ve been through this same situation.
9:17 – Here are some of the reasons you would not get remarried.
12:06 – A very important thing you have to figure out is what debt situation am I walking into and will I be assuming responsibility for this debt.
12:39 – Let’s talk about the idea of estate planning. Each option results in distinct differences.
15:31 – Let’s talk specifically about where your assets are – IRAs, 401(k)s, etc. How do taxes impact these?
17:02 – What if we want to give all our assets away and we are single versus married?
19:42 – Recapping everything we need to be asking.
21:55 – Once you go through this process, don’t stop. Create the plan and follow through with it.
Get the full show notes and additional resources by visiting our website here: http://smartmoneyquestions.com/podcastposts/episode-108-financial-questions-you-need-to-ask-before-getting-remarried-later-in-life/