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Relationship Discussion (non-explicit)
Reply to "Second marriage finances"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not sure there’s one best way to do this - I think it really depends on what people are coming in with, if there are kids, how much income both are making, if properties are owned prior to 2nd marriage and so on. Before remarrying I did a lot of research and spoke to an attorney as well as my future partner to figure out what would make sense. Our situation: previous kids, both owned a home and had preexisting financial investments and HYSA and both worked. [b]We sold our homes, bout a new one. [/b] We combined a joint checking account to pay bills and mortgage. Left all other accounts separate and have all of that stipulated in an agreement that states what we came in with we will leave with. Everything post our legal marriage is spilt 50/50. [/quote] This was true with my father too, both with previous kids. But the home is worth $15-20MM, he died, and his widow will leave this house to her two kids, not to his.[/quote] Yep. This is how it goes. Remarriage is ugly. It’s playing at being a family with people who will never have your children’s interests front and center. In fact they have the motivation to push their interests away.[/quote] +100. Np, why is this so hard for people to grasp? I will never understand being blinded by love. There is no scenario where I would ever be under the impression that a spouse in a second marriage would have my kids's best interest. It's not their job to have your kids' best interest. It's the bio parents' job-- period. If you fail to protect your kids' inheritance due to being in love with an outsider, you've failed as a parent. Count yourself as lucky if you marry a second spouse who is decent enough to care.[/quote] My grandfather who was very wealthy remarried. Guess who got all of his money eventually after he died. Yep- his stepkids. My dad and his siblings got nothing, the estate passed to stepmom and ultimately to her kids. I’m on my first marriage and have kids but all of my money goes in trust to my kids. (We signed prenups and both have enough to support ourselves fine). Your spouse can remarry and you won’t be able to control it. [/quote]
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