Whether their first marriages ended in death or divorce, many men and women find a new partner and say “I do” a second time. Remarriage rates have dropped over the past 30 years, according to data from Bowling Green State University. Still, nearly a quarter of marriages in 2022 were remarriages.
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“When people are getting married for the second time, they don’t want surprises,” says Marilyn Chinitz, a partner specializing in matrimonial and family law with Blank Rome in New York City.
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Not understanding your partner’s financial situation can lead to marital stress later, and it can be a common mistake when someone marries for the first time. “Often, young people don’t find out about a person’s finances until they walk into a marriage,” Chinitz says.
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You and your future spouse need to be fully transparent in order to make wise decisions about how to handle your money before and after your wedding day. And if your future spouse refuses to share financial information? Don’t marry them, Chinitz says.
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"Saying 'I Do' for the Second Time?" by Maryalene LaPonsie was published in U.S. News & World Report on August 13, 2024.