While it’s common for one partner to handle most money decisions in a marriage, it’s important for planners to make sure to listen to both.
If you’ve tied the knot again and hope to pass on assets to your kids from a previous marriage, don’t overlook the importance of planning for when you pass away.
Many people lack even a basic will and the stakes can be higher if you do no estate planning when you remarry. As a result, your children could unintentionally be disinherited.
“A conversation about estate planning is absolutely critical in remarriages,” said certified financial planner Lili Vasileff, founder and president of Divorce and Money Matters in Greenwich, Connecticut.“It’s emotional and hard to talk about, but the last thing you want to do is leave adult kids with a disaster.”