If you’ve been giving some thought to the idea of getting married again as a senior, you already know there are a lot of things to consider first. The pros and cons of getting married or remarried later in life are significant. Especially if you’ve already survived a divorce and don’t want to have to go through that again.

In discussing this subject with a variety of people, there’s one surprising feature that comes to mind – the fact that fewer and fewer senior citizens are choosing to get remarried these days. At a glance, one may think it’s the belief that remarriage dishonors the memory of a now-deceased spouse, or that there isn’t much point to second marriages anyway. But for most older adults, this doesn’t even feature on the list of concerns. The reasons, as it turns out, are far more prosaic – Money. Yes, even here in Michigan, our seniors are very focused on their finances during their mature years.

For some older people, remarriage would mean the end of their social security benefits from a previous spouse. This can be a frightening prospect when you are past retirement age and have limited options for additional income.

And then there is the issue of inheritance. As we age, medical concerns become more of a daily reality, and some people worry that the inheritance they have set aside for their children and grandchildren would get slowly sucked away by hospital bills and nursing homes if they married late in life and were required to carry the financial burden of an additional person.

Also, with regard to the issue of inheritance, some people want their children from a previous marriage to inherit the assets that were built up during that marriage. By marrying again late in life there is always the concern that your biological children’s inheritance will now have to be divided among not only your children, but the children of your late-life spouse as well.

Finances tend to be the most prevalent reason for people avoiding late life remarriage.

Added to that are concerns about how the financial choices of your new spouse (if they have substantially more debt or are a bigger spender) may affect your credit history. All in all, many people have a host of good reasons to simply “shack up”, as they say, and avoid remarriage all together.

But wait just a moment…

For those whose lives are not critically dependent on their deceased spouse’s social security check just to get by, there are certainly ways to address all of these issues so that they don’t steal away your chance of walking down the aisle one last time.

Restructuring your will and any trusts you may have to reflect your wishes for your future marital arrangements will make a big difference. Our family law attorneys can assist you in creating a prenuptial agreement that protects your children’s inheritance, and keeping separate checking accounts and credit cards can help to allay concerns about mismatched spending habits. Our estate planning attorneys work hand in hand with our family law attorneys to help structure a financial plan for older Michiganians that are considering marriage.

So while there are some very valid concerns for those who are considering remarriage late in life, there’s no reason to lose out on an opportunity to follow your heart if you make a few wise choices beforehand. Come in and talk to one of our experienced family law attorneys. We can help you prepare for your best possible future! Reach us at 1 800-576-6035.