Are wedding bells ringing?

FAI-Marriage

Whether you’re getting married for the first time, after becoming a widow(er), or following a divorce, finding love in mid-life is exciting! At any age, sharing your life with the perfect partner is something to cherish and celebrate. If your next chapter includes a mid-life marriage, it’s smart to say “I do” to addressing the unique financial impacts that come with it. These might include:

  • Determining the financial resources each person brings to the union
  • Combining individual financial goals and tolerance of risk, and addressing them as a couple
  • Managing the desire to retain financial responsibility and independence
  • Identifying important legacy issues for heirs while still providing for your new spouse
  • Decisions regarding a primary residence if more than one home is involved

FAI Wealth Management has deep experience working with mid-life marriages. We understand the emotions that can come with these intensely personal discussions and we’ll be with you every step of the way. We’ll work together to develop a smart, practical strategy for combining your wealth while allowing you to maintain your personal financial goals.

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Rich and Joan's Story:

The Financial Decisions That Come With A Mid-Life Marriage Are Overwhelming, Can You Help Us?

Rich and Joan are both divorced, in their late 50s and had been single for some time before meeting each other. Each had two children from their previous marriages, all of whom are either in college or living independently. Rich and Joan both have well-paying jobs and are living in the neighborhoods where their children went to school. Though they are ready to marry and combine households, they are uncertain about the financial decisions that come with this move. They are not sure how to make the right choices in light of what is best for each partner individually, for their new lives as a couple and for their families.

Whether you are marrying for the first time, after a divorce, or after becoming a widow(er), mid-life marriages can require addressing a host of topics related to financial planning and wealth management that are unique to this demographic. These can include:

  • The need to understand the financial resources each brings to the union
  • Combining individual financial goals and risk tolerances and addressing them as a couple
  • Not wanting to lose a sense of financial responsibility
  • Not wanting to be dependent on the other spouse for financial stability
  • The financial impact of joining two families if dependent children are involved
  • Identifying important legacy issues for heirs while still providing for the new spouse
  • Relinquishing total control of financial decisions, instead having to consult, collaborate and compromise
  • Decisions regarding a primary residence if more than one home is involved

These are just a few of the more common issues couples face when making the decision to marry again in late life or for the first time at an older age.

FAI understands the emotions that come with having these difficult discussions. One of our specialties is working with clients who have entered into mid-life marriages for a variety of reasons. FAI will work with you to develop a strategy for combining your wealth while allowing you to maintain your own personal, financial goals.

* Hypothetical example

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Marriage & Divorce Journal

Marriage & Divorce Journal

Marriage and Divorce
Helpful resources for those seeking advice in times of marital transition, be it first or second marriages or divorce.

Happily Ever After: Five Tips for Marriage After Fifty

Happily Ever After: Five Tips for Marriage After Fifty

4/2/2018 12:00:00 AM EDT
2 weeks ago

If you’re age fifty or older and are thinking of tying the knot, it’s smart to plan ahead. Financially, there’s often plenty ...

Five Things to Consider if You’re Divorcing Later in Life

Five Things to Consider if You’re Divorcing Later in Life

2/27/2018 12:00:00 AM EST
a month ago

The number of people divorcing after 50 has doubled in the past 20 years. And those numbers are growing, while divorce rates of other age ...

FAI’s Lyn A. Dippel, JD, CFP®, Named Best Financial Advisor by Washingtonian Magazine

FAI’s Lyn A. Dippel, JD, CFP®, Named Best Financial Advisor by Washingtonian Magazine

2/9/2018 12:00:00 AM EST
2 months ago

Recent News

Recent News

FAI Wealth Management Takes a Novel Approach to our Surging Senior Population

FAI Wealth Management Takes a Novel Approach to our Surging Senior Population

4/13/2018 12:00:00 AM EDT
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FAI Wealth Management, a leading financial planning and investment management firm in the Baltimore-Washington region, has announced the release of its free e-book series, "Caring ...

FAI Wealth Management Continues Its Growth Trajectory

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4/11/2018 12:00:00 AM EDT
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Columbia, Maryland – March 28, 2018 – FAI Wealth Management, a leading fee-only wealth management firm in the Baltimore-Washington region, announced that Zachary Shirilla has joined the ...

Upcoming Events

Upcoming Events

Coffee, Croissants, and Conversations: Don't Be the Weakest of the Herd

Coffee, Croissants, and Conversations: Don't Be the Weakest of the Herd

5/3/2018 8:00:00 AM EDT
Joins us for Coffee, Croissants, and Conversation with Chris Riismandel ...

Coffee, Croissants, and Conversation: Are Your Aging Parents Aging You?

Coffee, Croissants, and Conversation: Are Your Aging Parents Aging You?

5/24/2018 8:00:00 AM EDT
Join us for Coffee, Croissants, and Conversation with Kim Natovitz ...