If you are a so-called baby boomer nearing retirement who is happily contemplating a second marriage that you just know is going to work, congratulations. Many people find true love and lasting stability in repeat unions that follow younger failings.
They also find something else, though, which family law commentators routinely stress merits thorough attention prior to a subsequent betrothal. A recent national article sums it up by pointing to “a lot of personal and financial decisions that need to be discussed before the wedding party.”
Candidly, if you’re a pending or already-there Massachusetts senior who is about to remarry, you’ve got a different bag of concerns than does, say, a Millennial 30-plus years younger than you.
For starters, you’ve likely got far more substantial and diverse asset holdings. Many people in your demographic have contributed to company-sponsored retirement accounts for decades. Many also have various other savings vehicles. Some own businesses. Others are beneficiaries or heirs slated to receive or already collecting monies from trusts and other policies/accounts. And, of course, high numbers of baby boomers own homes and have adult children from earlier marriages.
An acknowledgment that you want — and need — to protect all those things in a late-union marriage is far from being an ice-cold and unromantic utterance. Rather, it reflects a logical and reflective resolve to be duly prudent as you grow older.
Your soul mate will likely understand your thoughts on the matter. There is a good chance that he or she is thinking along the very same lines.
The aforementioned Forbes article notes that seasoned attorneys “urge you to take precautions” if you are simultaneously preparing for both a second or subsequent marriage and retirement.
A candid discussion with a proven family law and divorce attorney can reveal why, as well as provide a remarrying individual with peace of mind prior to embarking on a new life.