marry once more? How to forestall monetary infidelity

So you’ve met someone and are thinking about taking the next step and getting married again.

Before you head back down the aisle, there are some financial issues that you should probably discuss with your partner.

ghosts of the financial past

It’s important to pull out all the financial skeletons in your closet. Discuss all debts and income to prevent future financial infidelity. This will get the conversation going about how each spouse handles money.

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focus on the future

It’s a wise move to think about protecting your premarital assets and, if possible, to consult an attorney to discuss ways to protect your assets and assets in the event of a divorce.

Update your will

Not something many people think of, but it’s important to keep beneficiaries informed of any policies you have.

Make sure your will reflects the changes in your life by reviewing and updating it.

If you share children with your ex, it’s also important to make sure you protect their legacy.

“For example, your ex-spouse might still be entitled to your children’s inheritance, but with a proper estate plan, you can account for the cost of maintenance obligations and protect your children’s inheritance through a trust,” Capital Legacy CEO Alex Simeonides previously told News24 explained.

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keep talking

Communication is the key to a good financial relationship with your spouse.

Schedule monthly meetings to discuss finances like budgets, goals, bills and setting goals for the next meeting.

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